AMC Theatres CEO Adam Aron received compensation of $25.4 million in 2023, up from $23.7 million in 2022 and $18.9 million in 2021, according to the cinema giant’s proxy statement filed with the Securities and Exchange Commission.
That included a base salary of $1.5 million, stock awards of $17.9 million and non-equity incentive plan compensation of $6 million.
In early 2021, AMC became a popular stock among “meme” traders after the company appeared close to bankruptcy amid the pandemic fallout at movie theater chains.
The stock surge helped the company strengthen its financial position and diversify its revenue streams — the latest initiative is starting to sell branded microwave and ready-to-eat movie popcorn varieties, initially at Walmart.
Aron’s base salary was $1.5 million in 2023, flat from $1.5 million in 2022 and from $1.45 million a year earlier. He took home a bonus of $5 million in 2020, but received no bonus during the last two years.
The SEC filing also revealed that CFO Sean Goodman...
That included a base salary of $1.5 million, stock awards of $17.9 million and non-equity incentive plan compensation of $6 million.
In early 2021, AMC became a popular stock among “meme” traders after the company appeared close to bankruptcy amid the pandemic fallout at movie theater chains.
The stock surge helped the company strengthen its financial position and diversify its revenue streams — the latest initiative is starting to sell branded microwave and ready-to-eat movie popcorn varieties, initially at Walmart.
Aron’s base salary was $1.5 million in 2023, flat from $1.5 million in 2022 and from $1.45 million a year earlier. He took home a bonus of $5 million in 2020, but received no bonus during the last two years.
The SEC filing also revealed that CFO Sean Goodman...
- 4/5/2024
- by Etan Vlessing
- The Hollywood Reporter - Movie News
April will not be a good look for domestic box office. We know it can’t possibly compete with 2023, which saw “The Super Mario Bros. Movie” take the month to $900 million, but even a shortfall of 25 percent would be great news.
Two days after AMC Theatre head Adam Aron wished his X followers a happy Easter with the promise that the box office would also rise, his stock price hit a new annual low. Aron’s upbeat messaging aside, the apparent vote of no confidence stemmed from AMC’s announcement that it may sell yet more stock to raise cash.
Happy Easter everyone.
My good news on this Easter Sunday is that in March, the domestic industry box office finally turned upwards. The best March in five years.
This is so encouraging in looking at the movie slate deeper into 2024. Many superb movies are coming. pic.twitter.com/sbhlgiCKlr
— Adam...
Two days after AMC Theatre head Adam Aron wished his X followers a happy Easter with the promise that the box office would also rise, his stock price hit a new annual low. Aron’s upbeat messaging aside, the apparent vote of no confidence stemmed from AMC’s announcement that it may sell yet more stock to raise cash.
Happy Easter everyone.
My good news on this Easter Sunday is that in March, the domestic industry box office finally turned upwards. The best March in five years.
This is so encouraging in looking at the movie slate deeper into 2024. Many superb movies are coming. pic.twitter.com/sbhlgiCKlr
— Adam...
- 4/3/2024
- by Tom Brueggemann
- Indiewire
Nicole Kidman is well aware of all the spoofs her viral AMC commercial generated and now has an idea to perform it live.
The actress starred in the September 2021 AMC advertisement, which reminded people of the unique experience of watching a film in the theater following the pandemic. Kidman knows about the recent trend of drag queens spoofing the commercials and is ready to perform the monologue live.
“My dream will be to be onstage doing it with a drag queen,” she said in an interview with Elle. “I’ve got to be able to do that at some point.”
Kidman recalled filming the ad while filming Being the Ricardos and why she felt the need to do it after AMC Theatres CEO Adam Aron offered her the task.
“It was just the desire to keep cinemas alive,” she said. “I’ve had the best experiences in cinema. I’d...
The actress starred in the September 2021 AMC advertisement, which reminded people of the unique experience of watching a film in the theater following the pandemic. Kidman knows about the recent trend of drag queens spoofing the commercials and is ready to perform the monologue live.
“My dream will be to be onstage doing it with a drag queen,” she said in an interview with Elle. “I’ve got to be able to do that at some point.”
Kidman recalled filming the ad while filming Being the Ricardos and why she felt the need to do it after AMC Theatres CEO Adam Aron offered her the task.
“It was just the desire to keep cinemas alive,” she said. “I’ve had the best experiences in cinema. I’d...
- 3/20/2024
- by Armando Tinoco
- Deadline Film + TV
Aquaman’s mom Nicole Kidman is a superhero of cinemas, thanks to her enduringly viral AMC ads.
The Oscar winner starred in an infamous 2021 campaign for the largest U.S. theater chain — new versions of the ad are currently rolling out. In a recent cover story for Elle, Kidman spoke about her newfound commercial calling as a way to save theaters from extinction.
“It was just the desire to keep cinemas alive,” Kidman said. “I’ve had the best experiences in cinema. I’d pretend I was going to school; I’d forge a note, and I’d go and sit in a movie theater. That’s a safe haven for me, so the idea of those not existing — that’s just not part of the equation in my lifetime.”
Kidman continued, “If that’s what it takes, I’ll do whatever it takes. We have to have some more ideas for the next one.
The Oscar winner starred in an infamous 2021 campaign for the largest U.S. theater chain — new versions of the ad are currently rolling out. In a recent cover story for Elle, Kidman spoke about her newfound commercial calling as a way to save theaters from extinction.
“It was just the desire to keep cinemas alive,” Kidman said. “I’ve had the best experiences in cinema. I’d pretend I was going to school; I’d forge a note, and I’d go and sit in a movie theater. That’s a safe haven for me, so the idea of those not existing — that’s just not part of the equation in my lifetime.”
Kidman continued, “If that’s what it takes, I’ll do whatever it takes. We have to have some more ideas for the next one.
- 3/19/2024
- by Samantha Bergeson
- Indiewire
German actress Nina Hoss (Phoenix, Tár, Barbara) has signed on to star in The Other Side, an upcoming adventure thriller from German director Mariko Minoguchi.
Hoss will play Hanna, a doctor who, during the midst of an epidemic, goes into self-isolation in the mountain wilderness to protect herself and others.
Best known for her many collaborations with German director Christian Petzold —including 2007’s Yella, 2012’s Barbara and 2014’s Phoenix — Hoss played Cate Blanchett’s wife in Todd Field’s Oscar-nominated Tár (2022) and had a recurring role as Astrid in seasons 5 and 6 of Showtime’s Emmy-winning series Homeland and in Amazon’s action series Tom Clancy’s Jack Ryan. More recently, Hoss co-starred in Claire Burger’s coming-of-age romantic drama Langue Étrangère, which premiered at the Berlin Film Festival last month, and in Radu Jude’s freewheeling feminist satire Do Not Expect Too Much From the End of the World, which...
Hoss will play Hanna, a doctor who, during the midst of an epidemic, goes into self-isolation in the mountain wilderness to protect herself and others.
Best known for her many collaborations with German director Christian Petzold —including 2007’s Yella, 2012’s Barbara and 2014’s Phoenix — Hoss played Cate Blanchett’s wife in Todd Field’s Oscar-nominated Tár (2022) and had a recurring role as Astrid in seasons 5 and 6 of Showtime’s Emmy-winning series Homeland and in Amazon’s action series Tom Clancy’s Jack Ryan. More recently, Hoss co-starred in Claire Burger’s coming-of-age romantic drama Langue Étrangère, which premiered at the Berlin Film Festival last month, and in Radu Jude’s freewheeling feminist satire Do Not Expect Too Much From the End of the World, which...
- 3/13/2024
- by Scott Roxborough
- The Hollywood Reporter - Movie News
Exclusive: Cesd Talent Agency has expanded its theatrical talent agent roster with two new hires from the former A3 Artists Agency. Aron Giannini has joined Cesd as Co-Head of its L.A. Theatrical Talent Department and Ross Silver as an Agent in its New York Theatrical Talent Department. Their new roles are effective immediately.
“We are very pleased to bring Aron and Ross to our agency’s team. They’ve each proven themselves to be unique and vital assets to their clients and to the representation business. Aron is a highly respected leader and a dynamic agent. Ross is a new generation representative and strong advocate for clients. Their arrival signals Cesd’s commitment to engaging not only the best available agents, but also to expanding our theatrical representation footprint for all our clients,” said Ken Slevin and Paul Doherty, Cesd’s partners.
Giannini and Silver are expected to bring...
“We are very pleased to bring Aron and Ross to our agency’s team. They’ve each proven themselves to be unique and vital assets to their clients and to the representation business. Aron is a highly respected leader and a dynamic agent. Ross is a new generation representative and strong advocate for clients. Their arrival signals Cesd’s commitment to engaging not only the best available agents, but also to expanding our theatrical representation footprint for all our clients,” said Ken Slevin and Paul Doherty, Cesd’s partners.
Giannini and Silver are expected to bring...
- 3/7/2024
- by Denise Petski
- Deadline Film + TV
Taylor Swift and Beyoncé not only helped AMC Theatres weather a slow holiday movie season, the singers’ AMC-exclusive concert films actually propelled the multiplex chain to exceed expectations.
In an earnings call with investors Thursday — where news of more Nicole Kidman ads was also announced — AMC CEO Adam Aron revealed that an otherwise moribund fourth quarter was resuscitated by Taylor Swift: The Eras Tour and Renaissance: A Film By Beyoncé, as those two movies powered the company to $1.1 billion over that 2023 quarter, an increase of more than $990 million from...
In an earnings call with investors Thursday — where news of more Nicole Kidman ads was also announced — AMC CEO Adam Aron revealed that an otherwise moribund fourth quarter was resuscitated by Taylor Swift: The Eras Tour and Renaissance: A Film By Beyoncé, as those two movies powered the company to $1.1 billion over that 2023 quarter, an increase of more than $990 million from...
- 2/29/2024
- by Daniel Kreps
- Rollingstone.com
Exclusive: Rtg Features, the sister studio to basketball media company Slam, is partnering with arts organization Heartland Film to launch the first annual Slam Film Festival dedicated to basketball-themed movies.
The festival, which will take place February 16-18, 2024, at Living Room Theaters in Indianapolis, will be a mix of world premiere titles, recent festival circuit movies and iconic films. The event will be the first-ever film festival exclusively focused on basketball, and is launched in celebration of Slam’s 30th anniversary in 2024. Scroll down for the lineup.
There will be 30th anniversary screenings of Steve James’ classic doc Hoop Dreams, William Friedkin’s Nick Nolte and Shaquille O’Neal film Blue Chips and Jeff Pollack’s Above The Rim. Newer films set to screen will include Palm Springs 2024 title Amongst The Trees, exec-produced by NBA star Paul George, and recent doc biopic Stephen Curry: Underrated (2023).
In addition to screenings and post-screening Q&As,...
The festival, which will take place February 16-18, 2024, at Living Room Theaters in Indianapolis, will be a mix of world premiere titles, recent festival circuit movies and iconic films. The event will be the first-ever film festival exclusively focused on basketball, and is launched in celebration of Slam’s 30th anniversary in 2024. Scroll down for the lineup.
There will be 30th anniversary screenings of Steve James’ classic doc Hoop Dreams, William Friedkin’s Nick Nolte and Shaquille O’Neal film Blue Chips and Jeff Pollack’s Above The Rim. Newer films set to screen will include Palm Springs 2024 title Amongst The Trees, exec-produced by NBA star Paul George, and recent doc biopic Stephen Curry: Underrated (2023).
In addition to screenings and post-screening Q&As,...
- 1/24/2024
- by Andreas Wiseman
- Deadline Film + TV
About six weeks after Beyoncé made a surprise appearance at the world premiere of Taylor Swift: The Eras Tour, Swift returned the favor, showing up Thursday night at the London premiere of Renaissance: A Film by Beyoncé.
Swift was even on point with the color scheme, wearing a sparkling silver gown. That’s the hue Beyoncé requested fans wear to some of her tour dates and, in fact, often sported herself onstage.
Beyoncé herself was decked out in silver – with platinum hair to match – at a screening for the film at the Academy this week.
Tonight, however, the Renaissance woman opted for a black ensemble, though she kept the platinum hair.
That Swift would show for Beyoncé’s big moment makes sense in more ways than one. There’s the payback aspect, but both films are also being distributed through AMC. It’s just good business for AMC CEO...
Swift was even on point with the color scheme, wearing a sparkling silver gown. That’s the hue Beyoncé requested fans wear to some of her tour dates and, in fact, often sported herself onstage.
Beyoncé herself was decked out in silver – with platinum hair to match – at a screening for the film at the Academy this week.
Tonight, however, the Renaissance woman opted for a black ensemble, though she kept the platinum hair.
That Swift would show for Beyoncé’s big moment makes sense in more ways than one. There’s the payback aspect, but both films are also being distributed through AMC. It’s just good business for AMC CEO...
- 12/1/2023
- by Tom Tapp
- Deadline Film + TV
Cullen Bunn Returns to the Deepest Catacombs: "In 2020, author Cullen Bunn released The Deepest Catacombs, a serialized comic inspired by vintage advertisements for the Dungeons And Dragons role-playing game. The story, told in 25 single-page installments, featured a different artist on every page. It was released for free for fans of comics, fantasy, and role-playing games. Now, Bunn is returning to the world of The Deepest Catacombs with an all-new 22-page comic that will be released in a serialized format.
“When I finished releasing the initial run of The Deepest Catacombs,” says Bunn, “I knew I would return to that world. I just loved the characters and the nostalgia, the magic and the monsters. And I loved working with so many talented artists! This was, of course, a labor of love, so it has taken me a bit of time to get the ball rolling again, but the story is...
“When I finished releasing the initial run of The Deepest Catacombs,” says Bunn, “I knew I would return to that world. I just loved the characters and the nostalgia, the magic and the monsters. And I loved working with so many talented artists! This was, of course, a labor of love, so it has taken me a bit of time to get the ball rolling again, but the story is...
- 11/29/2023
- by Jonathan James
- DailyDead
It’s a Friday the 13th weekend in October, and Halloween is just two weeks around the corner, yet the biggest chills occurring in Hollywood tonight is the prospect of trying to do business opposite Taylor Swift’s crowning moment of cinematic glory. That’s right. It’s The Eras Tour movie weekend, and the impact could be bigger than just those initial rounds of box office receipts.
Not that the impending box office gross of Taylor Swift: The Eras Tour isn’t also dazzlingly important to the exhibition industry. As of press time on Thursday afternoon, industry prognosticators at Hollywood studios are pegging the film to open north of $100 million in the U.S. while a $150 million global cume is also expected based on pre-release ticket sales; Las Vegas bookies are taking over and under bets on whether the film crosses $115 million in North America during its first three...
Not that the impending box office gross of Taylor Swift: The Eras Tour isn’t also dazzlingly important to the exhibition industry. As of press time on Thursday afternoon, industry prognosticators at Hollywood studios are pegging the film to open north of $100 million in the U.S. while a $150 million global cume is also expected based on pre-release ticket sales; Las Vegas bookies are taking over and under bets on whether the film crosses $115 million in North America during its first three...
- 10/13/2023
- by John Saavedra
- Den of Geek
AMC Theatres CEO Adam Aron was the victim of a blackmail and extortion plot.
The unconventional CEO disclosed the plot Thursday morning on X (formerly Twitter), adding that the perpetrator has already been convicted.
“By definition, I live my life in the public eye. Unfortunately, last year I became the victim of an elaborate criminal extortion by a third party who was unknown to me related to false allegations about my personal life,” Aron shared. “Rather than give in to blackmail, I personally engaged counsel and other professional advisors and reported the matter to law enforcement. I did so knowing I risked personal embarrassment. But with my access to resources, if I did not stand up against blackmail, who could?”
According to court documents, the woman, Sakoya Blackwood, began texting Aaron in March of 2022 pretending to be a number of different people. Aron initially believed that she “was an adult...
The unconventional CEO disclosed the plot Thursday morning on X (formerly Twitter), adding that the perpetrator has already been convicted.
“By definition, I live my life in the public eye. Unfortunately, last year I became the victim of an elaborate criminal extortion by a third party who was unknown to me related to false allegations about my personal life,” Aron shared. “Rather than give in to blackmail, I personally engaged counsel and other professional advisors and reported the matter to law enforcement. I did so knowing I risked personal embarrassment. But with my access to resources, if I did not stand up against blackmail, who could?”
According to court documents, the woman, Sakoya Blackwood, began texting Aaron in March of 2022 pretending to be a number of different people. Aron initially believed that she “was an adult...
- 10/12/2023
- by Alex Weprin
- The Hollywood Reporter - Movie News
Adam Aron, the colorful and outspoken CEO of top exhibitor AMC Entertainment, revealed Thursday in a post on X/Twitter that he had been targeted in a blackmail plot last year.
The exec described it as “entirely a personal matter” and one that is “now closed.” He said he had reported the extortion attempt to AMC’s board as well as law enforcement. The perpetrator, whom he did not know, who was arrested and then sentenced in July.
AMC’s board “thoroughly reviewed these events” with outside counsel at the WilmerHale law firm, Aron wrote. In a statement provided to Deadline, AMC’s board said it “retained independent counsel, WilmerHale, to look into the incident. The board determined it was a personal matter, and considers the issue resolved.”
Throughout my long career, I have successfully led many prominent companies and am proud of my impeccable reputation. In recent years, AMC's...
The exec described it as “entirely a personal matter” and one that is “now closed.” He said he had reported the extortion attempt to AMC’s board as well as law enforcement. The perpetrator, whom he did not know, who was arrested and then sentenced in July.
AMC’s board “thoroughly reviewed these events” with outside counsel at the WilmerHale law firm, Aron wrote. In a statement provided to Deadline, AMC’s board said it “retained independent counsel, WilmerHale, to look into the incident. The board determined it was a personal matter, and considers the issue resolved.”
Throughout my long career, I have successfully led many prominent companies and am proud of my impeccable reputation. In recent years, AMC's...
- 10/12/2023
- by Dade Hayes
- Deadline Film + TV
AMC Theatres CEO Adam Aron says he was the victim of an “elaborate criminal” extortion attempt in 2022 related to “false allegations” about his personal life, a matter which resulted in the extortionist being arrested and spending a year in jail.
Aron made the revelation in a lengthy X post on Thursday, the day his theater chain launched their anticipated collaboration with Taylor Swift to distribute “The Eras Tour” concert film.
The executive’s post begins by noting how important AMC’s shareholders are to him, which is why he’s decided to share this story publicly for the first time.
“By definition, I live my life in the public eye,” he said. “Unfortunately, last year I became the victim of an elaborate criminal extortion by a third party who was unknown to me related to false allegations about my personal life. Rather than give in to blackmail, I personally engaged...
Aron made the revelation in a lengthy X post on Thursday, the day his theater chain launched their anticipated collaboration with Taylor Swift to distribute “The Eras Tour” concert film.
The executive’s post begins by noting how important AMC’s shareholders are to him, which is why he’s decided to share this story publicly for the first time.
“By definition, I live my life in the public eye,” he said. “Unfortunately, last year I became the victim of an elaborate criminal extortion by a third party who was unknown to me related to false allegations about my personal life. Rather than give in to blackmail, I personally engaged...
- 10/12/2023
- by Adam Chitwood
- The Wrap
Adam Aron, the CEO of AMC Theatres, revealed that he had been the victim of an “elaborate criminal extortion.” The chief of the world’s largest cinema chain didn’t reveal details about what he described as a “blackmail attempt” other than to claim they were “related to false allegations about my personal life.”
Aron says there has been a “vigorous” criminal investigation taken by the U.S. Attorney’s Office for the Southern District of New York, and he had reported the situation to the FBI and Justice Department. Semafor first reported the news Thursday morning.
“Rather than give in to blackmail, I personally engaged counsel and other professional advisors and reported the matter to law enforcement,” Aron wrote on X, formerly known as Twitter. “I did so knowing I risked personal embarrassment. But with my access to resources, if I did not stand up against blackmail, who could?”
Throughout my long career,...
Aron says there has been a “vigorous” criminal investigation taken by the U.S. Attorney’s Office for the Southern District of New York, and he had reported the situation to the FBI and Justice Department. Semafor first reported the news Thursday morning.
“Rather than give in to blackmail, I personally engaged counsel and other professional advisors and reported the matter to law enforcement,” Aron wrote on X, formerly known as Twitter. “I did so knowing I risked personal embarrassment. But with my access to resources, if I did not stand up against blackmail, who could?”
Throughout my long career,...
- 10/12/2023
- by Rebecca Rubin and Brent Lang
- Variety Film + TV
Updated: Deadline has learned exclusively that the theatrical release date for Beyonce Renaissance World Tour is looking like Dec. 1, the post Thanksgiving/Black Friday weekend frame which is typically a dead zone at the box office. AMC didn’t respond to request for comment. Interesting that AMC is looking to hit a grand slam in 2023 since the 2024 theatrical release calendar will greatly be shaken up by films pushing due to actors strike. On Dec. 1, 20th Century Studios has the wide release of the Tom Hardy-Jodie Comer-Austin Butler starring, Jeff Nichols directed movie The Bikeriders while Lionsgate has John Woo’s first US film in 20 years, Silent Night. Won’t be shocking if they move.
Previous, 11:20Am: Capitalizing on the anticipated big screen fever of Taylor Swift: The Eras Tour, we are hearing heavy buzz this morning that AMC’s next big concert film is Beyonce: Renaissance World Tour,...
Previous, 11:20Am: Capitalizing on the anticipated big screen fever of Taylor Swift: The Eras Tour, we are hearing heavy buzz this morning that AMC’s next big concert film is Beyonce: Renaissance World Tour,...
- 9/30/2023
- by Anthony D'Alessandro
- Deadline Film + TV
On Thursday, October 5, 2023, at 8:00 Pm, History Channel’s “Mountain Men” continues with Season 12, Episode 6, titled “Ice Cold.”
In this episode, viewers will follow the rugged mountain men as they face various challenges in the wilderness. Jake, one of the featured mountain men, experiences an unexpected setback when his snowmobile breaks down. He must spend the night in the unforgiving mountains, highlighting the harsh realities of life in the wild.
Paul, another mountain man, is on the hunt for mink and pine marten as he tends to his traps. Meanwhile, Eustace lends a helping hand to a friend who is purchasing and assembling an antique sawmill, showcasing the valuable skills needed for survival in the wilderness.
Lastly, Aron and Jen embark on an ambitious endeavor to harvest a staggering 12,000 pounds of ice from the lake, emphasizing the resourcefulness required to thrive in the untamed wilderness.
Tune in to “Mountain Men...
In this episode, viewers will follow the rugged mountain men as they face various challenges in the wilderness. Jake, one of the featured mountain men, experiences an unexpected setback when his snowmobile breaks down. He must spend the night in the unforgiving mountains, highlighting the harsh realities of life in the wild.
Paul, another mountain man, is on the hunt for mink and pine marten as he tends to his traps. Meanwhile, Eustace lends a helping hand to a friend who is purchasing and assembling an antique sawmill, showcasing the valuable skills needed for survival in the wilderness.
Lastly, Aron and Jen embark on an ambitious endeavor to harvest a staggering 12,000 pounds of ice from the lake, emphasizing the resourcefulness required to thrive in the untamed wilderness.
Tune in to “Mountain Men...
- 9/30/2023
- by Jules Byrd
- TV Everyday
Elvis Presley‘s unique moniker will forever be synonymous with the superstar entertainer. However, the name was considered unusual when the king of rock and roll first grew in popularity. Who was Elvis Presley named after, and what are the origins of his name?
Why did Gladys and Vernon Presley name their son Elvis?
Gladys Presley reportedly had no idea she was carrying twins when she delivered her child on Jan. 8, 1935, in Tupelo, Ms. She first delivered a stillborn son via a midwife.
Her husband, Vernon Presley, described the heartbreaking moment in an interview with Good Housekeeping in 1978. Vernon explained the combination of hurt and happiness during the life-changing event.
“After what seemed to be an eternity, a baby boy was born, dead. I was desolate at the loss of our child. But then my father put his hand on my wife’s stomach and announced, ‘Vernon, there’s another baby here!
Why did Gladys and Vernon Presley name their son Elvis?
Gladys Presley reportedly had no idea she was carrying twins when she delivered her child on Jan. 8, 1935, in Tupelo, Ms. She first delivered a stillborn son via a midwife.
Her husband, Vernon Presley, described the heartbreaking moment in an interview with Good Housekeeping in 1978. Vernon explained the combination of hurt and happiness during the life-changing event.
“After what seemed to be an eternity, a baby boy was born, dead. I was desolate at the loss of our child. But then my father put his hand on my wife’s stomach and announced, ‘Vernon, there’s another baby here!
- 9/4/2023
- by Lucille Barilla
- Showbiz Cheat Sheet
Shares in AMC Theatres collapsed on Monday after a Delaware Court judge gave a green light to parent AMC Entertainment Holdings proceeding with a revised plan to convert AMC Preferred Equity Units, or so-called APEs, into the company’s common shares.
On August 11, Judge Morgan T. Zurn of the Court of Chancery in Delaware in a 110-page ruling approved a settlement that was revamped by AMC Theatres after she rejected an earlier settlement that would have paved the way for AMC to continue to sell stock to reduce its high debt load on July 21.
On Monday, in the wake of the court ruling, common shares in AMC predictably began to converge with the lower-cost Ape shares as retail investors had shorted the higher-cost AMC common shares as part of an arbitrage trade.
In mid-morning trading, shares in parent AMC Entertainment Holdings fell by $1.77, or nearly 34 percent, to $3.50, while the price of Ape units rose 30 cents,...
On August 11, Judge Morgan T. Zurn of the Court of Chancery in Delaware in a 110-page ruling approved a settlement that was revamped by AMC Theatres after she rejected an earlier settlement that would have paved the way for AMC to continue to sell stock to reduce its high debt load on July 21.
On Monday, in the wake of the court ruling, common shares in AMC predictably began to converge with the lower-cost Ape shares as retail investors had shorted the higher-cost AMC common shares as part of an arbitrage trade.
In mid-morning trading, shares in parent AMC Entertainment Holdings fell by $1.77, or nearly 34 percent, to $3.50, while the price of Ape units rose 30 cents,...
- 8/14/2023
- by Etan Vlessing
- The Hollywood Reporter - Movie News
Delaware Chancery Court Judge Morgan Zurn has approved a revised settlement in ongoing litigation related to shareholders of AMC Entertainment, TheWrap has confirmed. The turnabout means chairman and CEO Adam Aron can now try to raise capital, which he had previously been prevented from doing after the initial settlement was rejected on July 21.
Aron expressed concern both on Twitter and amid AMC Entertainment’s most recent quarterly earnings call on Tuesday about the possibility of running out of money, even bankruptcy, if the company wasn’t able to secure financing.
“In the short term, AMC has some serious liquidity issues to solve. We should not oversimplify that it will be easy to overcome the obstacles and hurdles in our path,” Aron said in the earnings call.
The settlement will presumably pay off common stockholders in exchange for allowing holders of its preferred shares to convert their holdings into common stock.
Aron expressed concern both on Twitter and amid AMC Entertainment’s most recent quarterly earnings call on Tuesday about the possibility of running out of money, even bankruptcy, if the company wasn’t able to secure financing.
“In the short term, AMC has some serious liquidity issues to solve. We should not oversimplify that it will be easy to overcome the obstacles and hurdles in our path,” Aron said in the earnings call.
The settlement will presumably pay off common stockholders in exchange for allowing holders of its preferred shares to convert their holdings into common stock.
- 8/11/2023
- by Scott Mendelson
- The Wrap
CEO Adam Aron has expounded on Twitter and most recently on AMC Entertainment’s latest earnings call about the risk of a cash crunch and even bankruptcy if it wasn’t able to secure financing in a still uncertain box office climate.
Today he can breathe easier as a Delaware Chancery Court Judge approved a revised shareholder settlement that paves the way for that to happen.
Chancellor Morgan Zurn, in her second opinion, approved the agreement she had rejected on July 21 for being “unsound.”
The problem speaks to the fact that AMC has an unusual investor base of millions of individual shareholders who were reluctant to dilute their holdings by allowing the company raise equity capital, with its regular shares. So AMC created new Ape units (AMC Preferred Equity) as a workaround, figuring it could sell those, but it didn’t work. The APEs, which were traded separately, plunged in value.
Today he can breathe easier as a Delaware Chancery Court Judge approved a revised shareholder settlement that paves the way for that to happen.
Chancellor Morgan Zurn, in her second opinion, approved the agreement she had rejected on July 21 for being “unsound.”
The problem speaks to the fact that AMC has an unusual investor base of millions of individual shareholders who were reluctant to dilute their holdings by allowing the company raise equity capital, with its regular shares. So AMC created new Ape units (AMC Preferred Equity) as a workaround, figuring it could sell those, but it didn’t work. The APEs, which were traded separately, plunged in value.
- 8/11/2023
- by Jill Goldsmith
- Deadline Film + TV
AMC Entertainment has promoted Ellen Copaken to senior vice president of marketing. She will report directly to CEO Adam Aron.
Copaken, who joined the company in February of 2022 as the vice president of growth strategy, fills the vacancy created with the departure of Eliot Hamlisch.
Meanwhile, AMC external communications, led by corporate communications and public relations vice president Ryan Noonan, will also report directly to Aron.
While in her previous position at AMC, Copaken led all aspects of the AMC Perfectly Popcorn product launch in more than 2,600 Walmart locales and on Walmart.com. Prior to her tenure at AMC, she spent 20 years in senior marketing roles at the likes of Frito-Lay, PepsiCo and Hostess Brands. In addition to the new marketing responsibilities, she will continue in her role concerning AMC’s retail at-home popcorn business.
Aron commented: “Ellen Copaken has truly distinguished herself as she grabbed the reins of our...
Copaken, who joined the company in February of 2022 as the vice president of growth strategy, fills the vacancy created with the departure of Eliot Hamlisch.
Meanwhile, AMC external communications, led by corporate communications and public relations vice president Ryan Noonan, will also report directly to Aron.
While in her previous position at AMC, Copaken led all aspects of the AMC Perfectly Popcorn product launch in more than 2,600 Walmart locales and on Walmart.com. Prior to her tenure at AMC, she spent 20 years in senior marketing roles at the likes of Frito-Lay, PepsiCo and Hostess Brands. In addition to the new marketing responsibilities, she will continue in her role concerning AMC’s retail at-home popcorn business.
Aron commented: “Ellen Copaken has truly distinguished herself as she grabbed the reins of our...
- 8/10/2023
- by Scott Mendelson
- The Wrap
AMC Theatres has promoted Ellen Copaken to lead its marketing department. As senior VP of marketing, effective immediately, she will report to AMC’s chairman and CEO Adam Aron and will join the company’s executive committee.
She’s taking over for Eliot Hamlisch, who recently departed the company. He had been commuting across the country to AMC’s Theatre Support Center in Leawood, Kansas from his residence in northern New Jersey. For personal reasons, Hamlisch was unable to relocate permanently, according to a statement from AMC.
Copaken joined AMC in February 2022 as VP of growth strategy. Her first initiative was launching a line of microwave, ready-to-eat popcorn, which is now sold in more than 2,600 Walmarts in the U.S. and online. She previously worked in senior marketing leadership roles for Frito-Lay, PepsiCo and Hostess Brands.
“In the year and a half that she has been with us, her talent,...
She’s taking over for Eliot Hamlisch, who recently departed the company. He had been commuting across the country to AMC’s Theatre Support Center in Leawood, Kansas from his residence in northern New Jersey. For personal reasons, Hamlisch was unable to relocate permanently, according to a statement from AMC.
Copaken joined AMC in February 2022 as VP of growth strategy. Her first initiative was launching a line of microwave, ready-to-eat popcorn, which is now sold in more than 2,600 Walmarts in the U.S. and online. She previously worked in senior marketing leadership roles for Frito-Lay, PepsiCo and Hostess Brands.
“In the year and a half that she has been with us, her talent,...
- 8/10/2023
- by Rebecca Rubin
- Variety Film + TV
AMC Entertainment’s CEO Adam Aron warned that the chain risks financial peril if it can’t raise fresh cash as needed while exhibition continues its post-Covid recovery amid Hollywood strikes.
The world’s biggest move chain saw second-quarter earnings surge, sales jump and things looked great in movieland with the three months ended in June and the current month of July setting records on key metrics. But the numbers mask an AMC skirmish with shareholders that turned into a messy, ongoing Delaware Chancery Court case requiring a judge’s approval for the company to sell equity to raise cash.
Yes, Aron said he’s heartened at AMC’s liquidity of $643 million at the end of June, but retail shareholders, who own most of the company’s stock, “are underestimating the potential for cash burn in seasonally weaker winter months, especially given the uncertainties of the actors’ and writers’ strikes,...
The world’s biggest move chain saw second-quarter earnings surge, sales jump and things looked great in movieland with the three months ended in June and the current month of July setting records on key metrics. But the numbers mask an AMC skirmish with shareholders that turned into a messy, ongoing Delaware Chancery Court case requiring a judge’s approval for the company to sell equity to raise cash.
Yes, Aron said he’s heartened at AMC’s liquidity of $643 million at the end of June, but retail shareholders, who own most of the company’s stock, “are underestimating the potential for cash burn in seasonally weaker winter months, especially given the uncertainties of the actors’ and writers’ strikes,...
- 8/8/2023
- by Jill Goldsmith
- Deadline Film + TV
AMC Entertainment returned to a profit for the second quarter Tuesday, reversing a year-ago loss as the nation’s largest theater chain saw audiences return to seats as the post-pandemic recovery picked up pace, but the CEO warned of potential liquidity challenges ahead.
The Leawood, Kansas-based company posted net income of $8.6 million, or 1 cent per share, compared with a loss of $121.6 million, or 12 cents per share, in the second quarter of 2022.
That was a solid beat over the 5 cents per share loss projected by analysts polled by Zacks Investment Service.
Riding hit films like “The Super Mario Bros. Movie,” “Guardians of the Galaxy Vol. 3” and “Spider-Man: Across the Spider-Verse,” revenue came in at $1.35 billion, up 15.5% from $1.17 billion last year, and a strong beat of the $1.29 billion forecast by Zacks analysts.
In U.S. theaters, revenue jumped nearly 20% to $1.09 billion.
“While we still have much work ahead of us on this front,...
The Leawood, Kansas-based company posted net income of $8.6 million, or 1 cent per share, compared with a loss of $121.6 million, or 12 cents per share, in the second quarter of 2022.
That was a solid beat over the 5 cents per share loss projected by analysts polled by Zacks Investment Service.
Riding hit films like “The Super Mario Bros. Movie,” “Guardians of the Galaxy Vol. 3” and “Spider-Man: Across the Spider-Verse,” revenue came in at $1.35 billion, up 15.5% from $1.17 billion last year, and a strong beat of the $1.29 billion forecast by Zacks analysts.
In U.S. theaters, revenue jumped nearly 20% to $1.09 billion.
“While we still have much work ahead of us on this front,...
- 8/8/2023
- by Eileen AJ Connelly
- The Wrap
Top exhibitor AMC Entertainment rode the box office revival in the second quarter, beating Wall Street forecasts and returning to profitability.
The company posted total revenue of $1.348 billion, up almost 16% from a year ago, and swung to a profit of 1 cent a share from a loss of 12 cents in the 2022 quarter. Analysts had expected revenue of $1.29 billion and a loss of 4 cents a share. Shares in the theater owner gained 4% in pre-market trading, hitting $5.35.
While the second quarter, ending June 30, did not include the sizzling month of July and the Barbenheimer phenomenon, it did see improving fortunes for theater owners as their post-Covid comeback attempt continues. AMC said attendance in the quarter gained 12% year-on-year to hit 66.4 million. Total domestic box office rose 22% over 2022 levels through the end of July, topping $6 billion.
AMC Entertainment executives will discuss the quarterly results after the close of trading Tuesday on a conference call with Wall Street analysts.
The company posted total revenue of $1.348 billion, up almost 16% from a year ago, and swung to a profit of 1 cent a share from a loss of 12 cents in the 2022 quarter. Analysts had expected revenue of $1.29 billion and a loss of 4 cents a share. Shares in the theater owner gained 4% in pre-market trading, hitting $5.35.
While the second quarter, ending June 30, did not include the sizzling month of July and the Barbenheimer phenomenon, it did see improving fortunes for theater owners as their post-Covid comeback attempt continues. AMC said attendance in the quarter gained 12% year-on-year to hit 66.4 million. Total domestic box office rose 22% over 2022 levels through the end of July, topping $6 billion.
AMC Entertainment executives will discuss the quarterly results after the close of trading Tuesday on a conference call with Wall Street analysts.
- 8/8/2023
- by Dade Hayes
- Deadline Film + TV
Cinema giant AMC Theatres swung to a second-quarter profit as revenue jumped 15.6 percent to $1.35 billion and touted its highest quarterly attendance in years, but also issued a warning of possible liquidity challenges ahead.
Earnings for the second quarter hit $8.6 million, compared to a loss of $121.6 million in the comparable period of 2022, the company reported on Tuesday. It also saw a 12.2 percent gain in attendance year-over-year.
CEO Adam Aron, in an after-markets analyst call, said the third quarter of 2023 had kicked off well due to Barbie, Oppenheimer, Mission Impossible – Dead Reckoning Part One and Sound of Freedom playing on his company’s screens.
“The stakes are high and we’re surrounded by some uncertainties and risks. But it’s certainly encouraging for us all to take a moment this afternoon and celebrate our immensely positive results in the most recently completed quarter,” Aron insisted. But AMC still has some ways...
Earnings for the second quarter hit $8.6 million, compared to a loss of $121.6 million in the comparable period of 2022, the company reported on Tuesday. It also saw a 12.2 percent gain in attendance year-over-year.
CEO Adam Aron, in an after-markets analyst call, said the third quarter of 2023 had kicked off well due to Barbie, Oppenheimer, Mission Impossible – Dead Reckoning Part One and Sound of Freedom playing on his company’s screens.
“The stakes are high and we’re surrounded by some uncertainties and risks. But it’s certainly encouraging for us all to take a moment this afternoon and celebrate our immensely positive results in the most recently completed quarter,” Aron insisted. But AMC still has some ways...
- 8/8/2023
- by Georg Szalai and Etan Vlessing
- The Hollywood Reporter - Movie News
CEO Adam Aron said a court ruling last week that makes it harder for AMC Entertainment to raise cash has serious implications for the circuit’s financial stability — a blowout “Barbenheimer” weekend at the box office and surging share price notwithstanding.
“AMC must be in a position to raise equity capital. I repeat, to protect AMC’s shareholder value over the long term, we Must be able to raise equity capital,” he wrote in an open letter to shareholders on Twitter (which was just renamed ’X’). “This is especially the case now with the added uncertainty caused by the writers and actors strikes, which could delay the release of movies currently scheduled for 2024 and 2025.”
As things stand, he said, “the risk materially increases of AMC conceivably running out of cash in 2024 or 2025, or of AMC being unable to satisfactorily refinance and stretch out the maturity of some of our debt...
“AMC must be in a position to raise equity capital. I repeat, to protect AMC’s shareholder value over the long term, we Must be able to raise equity capital,” he wrote in an open letter to shareholders on Twitter (which was just renamed ’X’). “This is especially the case now with the added uncertainty caused by the writers and actors strikes, which could delay the release of movies currently scheduled for 2024 and 2025.”
As things stand, he said, “the risk materially increases of AMC conceivably running out of cash in 2024 or 2025, or of AMC being unable to satisfactorily refinance and stretch out the maturity of some of our debt...
- 7/24/2023
- by Jill Goldsmith
- Deadline Film + TV
In a contorted legal case, a Delaware judge today struck down a settlement that would have helped AMC Entertainment move ahead with steps to raise cash and shore up its stock.
“To cut to the chase, the settlement cannot be approved as submitted,” Judge Morgan Zurn of Delaware Chancery Court wrote in a 69-page opinion released today. Her ruling followed several days of hearings earlier this summer in a suit initially brought by a group of AMC investors who challenged the company’s plans to convert preferred equity into common stock. The exhibitor and the shareholders subsequently reached a settlement in the case but that required the judge’s approval.
Long and short: If AMC has to raise cash in a pinch, it will need to sell AMC Preferred Equity units, or APEs, which are worth much less than its common stock. The APEs fell 14% to $1.54 in late trading today.
“To cut to the chase, the settlement cannot be approved as submitted,” Judge Morgan Zurn of Delaware Chancery Court wrote in a 69-page opinion released today. Her ruling followed several days of hearings earlier this summer in a suit initially brought by a group of AMC investors who challenged the company’s plans to convert preferred equity into common stock. The exhibitor and the shareholders subsequently reached a settlement in the case but that required the judge’s approval.
Long and short: If AMC has to raise cash in a pinch, it will need to sell AMC Preferred Equity units, or APEs, which are worth much less than its common stock. The APEs fell 14% to $1.54 in late trading today.
- 7/22/2023
- by Jill Goldsmith
- Deadline Film + TV
Shares in AMC Theatres soared by just over 60 percent late Friday — and at one point by 100 percent — after a Delaware Court judge blocked parent AMC Entertainment Holdings from proceeding with a plan to convert AMC Preferred Equity Units, or so-called APEs, into the company’s common shares.
Vice Chancellor Morgan T. Zurn of the Court of Chancery in Delaware rejected an earlier settlement that would have paved the way for AMC to continue to sell stock to reduce its high debt load. “The proposed settlement is not approved,” Judge Zurn concluded in her 68-page decision.
On the weekend, AMC revised its stock-conversion proposal to potentially remove any objection from the Delaware court to the earlier version of stock conversion plan to raise fresh capital. And AMC Theatres CEO Adam Aron on his Twitter account reiterated the APEs-to-Stock conversion plan was essential to the company’s survival.
“Accordingly, given the absolute...
Vice Chancellor Morgan T. Zurn of the Court of Chancery in Delaware rejected an earlier settlement that would have paved the way for AMC to continue to sell stock to reduce its high debt load. “The proposed settlement is not approved,” Judge Zurn concluded in her 68-page decision.
On the weekend, AMC revised its stock-conversion proposal to potentially remove any objection from the Delaware court to the earlier version of stock conversion plan to raise fresh capital. And AMC Theatres CEO Adam Aron on his Twitter account reiterated the APEs-to-Stock conversion plan was essential to the company’s survival.
“Accordingly, given the absolute...
- 7/21/2023
- by Etan Vlessing
- The Hollywood Reporter - Movie News
After AMC Theatres CEO Adam Aron had to address the viral rumor that “Sound of Freedom” audiences were being targeted by theater workers, the studio behind the film was weighed in to support the theater chain.
A number of bizarre tweets from the film’s right-wing fans — the child-trafficking drama has won vast admirers from those, like QAnon, who believe in wide-ranging pedophilia plots touching the highest echelons of American power — suggested that the air conditioning was deliberately turned off during screenings. And a viral satirical tweet suggested that AMC theaters had a conspiracy against QAnon members and were supplying suspicious liquid at the concessions stand. “Sound of Freedom” is based on the story of Operation Underground Railroad founder Tim Ballard, played by Jim Caviezel who is an active QAnon believer.
“I work at AMC and just got fired for refusing to add this liquid to a customer’s soda,...
A number of bizarre tweets from the film’s right-wing fans — the child-trafficking drama has won vast admirers from those, like QAnon, who believe in wide-ranging pedophilia plots touching the highest echelons of American power — suggested that the air conditioning was deliberately turned off during screenings. And a viral satirical tweet suggested that AMC theaters had a conspiracy against QAnon members and were supplying suspicious liquid at the concessions stand. “Sound of Freedom” is based on the story of Operation Underground Railroad founder Tim Ballard, played by Jim Caviezel who is an active QAnon believer.
“I work at AMC and just got fired for refusing to add this liquid to a customer’s soda,...
- 7/13/2023
- by Samantha Bergeson
- Indiewire
AMC Theatres CEO Adam Aron and “Sound of Freedom” distributor Angel Studios have joined forces to quell a boycott against the exhibition chain over the release of the Jim Caviezel action movie. Social media users have accused AMC of purposely disrupting “Sound of Freedom” screenings following accusations that the hit film stokes QAnon conspiracy theories. Claims include AMC canceling screenings and disrupting showtimes with technical difficulties and broken air conditioning.
“Sadly, conspiracy theorists are so prevalent in America. So much garbage information is spread,” Aron wrote on Twitter. “More than One Million people have watched ‘Sound of Freedom’ at AMC Theatres. More than at any other theatre chain on the planet. Yet people falsely claim otherwise. It is so bizarre.”
Written and directed by Alejandro Monteverde, “Sound of Freedom” is based on the true story of Tim Ballard. “The Passion of the Christ” star Caviezel plays a former government agent...
“Sadly, conspiracy theorists are so prevalent in America. So much garbage information is spread,” Aron wrote on Twitter. “More than One Million people have watched ‘Sound of Freedom’ at AMC Theatres. More than at any other theatre chain on the planet. Yet people falsely claim otherwise. It is so bizarre.”
Written and directed by Alejandro Monteverde, “Sound of Freedom” is based on the true story of Tim Ballard. “The Passion of the Christ” star Caviezel plays a former government agent...
- 7/13/2023
- by Zack Sharf
- Variety Film + TV
Exclusive: Former NFL player Andrew Hawkins and his Parks Tower Studios banner have entered into a co-production agreement with Rtg Features, the sister studio to basketball-focused media company Slam, to develop and produce a slate of cross-platform scripted and unscripted projects that spotlight sports and culture.
Hawkins comes to the deal after working with Rtg’s CEO Aron Phillips at Uninterrupted, the L.A.-based athlete empowerment brand co-founded by LeBron James and Maverick Carter.
As part of the deal, Rtg will come aboard to produce Hawk, a biopic first announced a few years ago that’s based on the true story of Hawkins’ journey to the NFL. Directing the pic is Qasim Basir, the filmmaker with whom Hawkins most recently collaborated as an EP on his critically acclaimed Sundance 2023 drama, To Live and Die and Live.
The film to be produced by Andre Gaines (The One and Only Dick Gregory...
Hawkins comes to the deal after working with Rtg’s CEO Aron Phillips at Uninterrupted, the L.A.-based athlete empowerment brand co-founded by LeBron James and Maverick Carter.
As part of the deal, Rtg will come aboard to produce Hawk, a biopic first announced a few years ago that’s based on the true story of Hawkins’ journey to the NFL. Directing the pic is Qasim Basir, the filmmaker with whom Hawkins most recently collaborated as an EP on his critically acclaimed Sundance 2023 drama, To Live and Die and Live.
The film to be produced by Andre Gaines (The One and Only Dick Gregory...
- 6/6/2023
- by Matt Grobar
- Deadline Film + TV
It’s Day 4 of the 2023 writers strike, and while some early impacts to television are already being felt, those in the theatrical business aren’t sweating things just yet.
Both AMC and Cinemark, the largest and third largest theater chains in the country respectively, held their quarterly earnings calls on Friday morning, when each were asked by analysts how they feel a writers strike could have an impact on their businesses. The short answer? It won’t, unless the strike becomes very “prolonged.”
“Look, we’re very sympathetic to the real problems that exist for members of the Writers Guild. Streaming has changed the landscape of television, it’s changed the economics of what writers earn. We are hopeful that the Hollywood producers and the Writers Guild can work in good faith to craft a solution that’s good for all parties,” AMC CEO Adam Aron said Friday morning. “As...
Both AMC and Cinemark, the largest and third largest theater chains in the country respectively, held their quarterly earnings calls on Friday morning, when each were asked by analysts how they feel a writers strike could have an impact on their businesses. The short answer? It won’t, unless the strike becomes very “prolonged.”
“Look, we’re very sympathetic to the real problems that exist for members of the Writers Guild. Streaming has changed the landscape of television, it’s changed the economics of what writers earn. We are hopeful that the Hollywood producers and the Writers Guild can work in good faith to craft a solution that’s good for all parties,” AMC CEO Adam Aron said Friday morning. “As...
- 5/5/2023
- by Brian Welk
- Indiewire
Theaters have been in “build back” mode since reopening after the pandemic, but the leadership of the largest chains see bright days ahead as more films are released theatrically before they’re made available on streaming services.
AMC Theaters and Cinemark on Thursday both reported solid audience growth for the first quarter.
AMC, the largest chain in the U.S. with over 7,500 screens, said the number of people in seats jumped 25% domestically. It also saw a 15% gain internationally, and said audience numbers in Europe are nearing pre-pandemic norms.
The increased audience numbers helped lift AMC revenue by 21.5% to $954.4 million.
Cinemark, the third largest U.S. chain with about 4,400 screens, saw an even greater leap, with audience numbers up 30% in the U.S. thanks to a wave of hits that began with 2022 holdovers “Avatar: The Way of Water” and “Puss in Boots: The Last Wish,” and continued with new releases like...
AMC Theaters and Cinemark on Thursday both reported solid audience growth for the first quarter.
AMC, the largest chain in the U.S. with over 7,500 screens, said the number of people in seats jumped 25% domestically. It also saw a 15% gain internationally, and said audience numbers in Europe are nearing pre-pandemic norms.
The increased audience numbers helped lift AMC revenue by 21.5% to $954.4 million.
Cinemark, the third largest U.S. chain with about 4,400 screens, saw an even greater leap, with audience numbers up 30% in the U.S. thanks to a wave of hits that began with 2022 holdovers “Avatar: The Way of Water” and “Puss in Boots: The Last Wish,” and continued with new releases like...
- 5/5/2023
- by Eileen AJ Connelly
- The Wrap
AMC Entertainment CEO Adam Aron said the giant movie theater chain will start making its own candy line that will be cheaper for patrons, and for the company, given price hike by sweets manufacturers post-Covid.
“We noticed, as a result of the pandemic and supply chain shortages, that candy manufacturers had increased their prices to us by a huge amount (some by over 30%). That got us thinking very hard about our candy, and we realized that we could manufacture a private label brand of candy to very high quality standards, price it less expensively than our current candy is priced, and have a higher profit margin,” Aron said on a call today after strong quarterly earnings.
The company recently rolled out its new AMC Perfectly Popcorn brand at over 2,000 Walmart stores. It just launched an AMC-branded Visa card. These add-ons to its core business come as the box office is rebounding.
“We noticed, as a result of the pandemic and supply chain shortages, that candy manufacturers had increased their prices to us by a huge amount (some by over 30%). That got us thinking very hard about our candy, and we realized that we could manufacture a private label brand of candy to very high quality standards, price it less expensively than our current candy is priced, and have a higher profit margin,” Aron said on a call today after strong quarterly earnings.
The company recently rolled out its new AMC Perfectly Popcorn brand at over 2,000 Walmart stores. It just launched an AMC-branded Visa card. These add-ons to its core business come as the box office is rebounding.
- 5/5/2023
- by Jill Goldsmith
- Deadline Film + TV
Echoing sentiments shared by the overall industry, AMC Theaters CEO Adam Aron discussed the ongoing WGA strike in sympathetic terms while assuring investors that the impact on the theatrical pipeline would be minimal at worst.
“We’re very sympathetic to the real problems that exist for members of the Writers Guild,” stated Aron in Friday’s earnings call. “Streaming has changed the landscape of television, changed the economics of what writers earn. We are hopeful that the Hollywood producers and the Writers Guild can work in good faith to craft a solution that works for all parties.”
In sentiments that were echoed by Cinemark CEO Sean Gamble who also had a quarterly earnings reveal and conference call on Friday, Aron noted that only a long strike by screenwriters would disrupt the cinematic pipeline, be it theatrical releases or films intended for streaming. Many upcoming films have wrapped production and all...
“We’re very sympathetic to the real problems that exist for members of the Writers Guild,” stated Aron in Friday’s earnings call. “Streaming has changed the landscape of television, changed the economics of what writers earn. We are hopeful that the Hollywood producers and the Writers Guild can work in good faith to craft a solution that works for all parties.”
In sentiments that were echoed by Cinemark CEO Sean Gamble who also had a quarterly earnings reveal and conference call on Friday, Aron noted that only a long strike by screenwriters would disrupt the cinematic pipeline, be it theatrical releases or films intended for streaming. Many upcoming films have wrapped production and all...
- 5/5/2023
- by Scott Mendelson
- The Wrap
AMC Theatres CEO Adam Aron expressed optimism about the mega-exhibitor making it through the Writers Guild of America strike on the company’s earnings call on Friday.
“We’re very sympathetic to the real problems that exist for members of the Writers Guild. Streaming has changed the landscape of television, changed the economics of what writers earn. We are hopeful that the Hollywood producers and the Writers Guild can work in good faith to craft a solution that works for all parties,” Aron said after the release of his company’s first quarter financial results.
But he argued only a long Hollywood strike by screenwriters would disrupt the flow of movies to consumers as they go to the local multiplex or view tentpoles on their living room couches as many movie projects have already wrapped production.
“If this is a short strike — I mean months — its impact will mostly be felt on television programming,...
“We’re very sympathetic to the real problems that exist for members of the Writers Guild. Streaming has changed the landscape of television, changed the economics of what writers earn. We are hopeful that the Hollywood producers and the Writers Guild can work in good faith to craft a solution that works for all parties,” Aron said after the release of his company’s first quarter financial results.
But he argued only a long Hollywood strike by screenwriters would disrupt the flow of movies to consumers as they go to the local multiplex or view tentpoles on their living room couches as many movie projects have already wrapped production.
“If this is a short strike — I mean months — its impact will mostly be felt on television programming,...
- 5/5/2023
- by Etan Vlessing
- The Hollywood Reporter - Movie News
Giant theater chain AMC Entertainment saw sales blow past Wall Street forecasts for the March quarter, rising 20% to $954 million.
Losses narrowed by $102 million to $235 million, for an adjusted Eps of 17 cents a share, a also ahead of expectations.
Shares popped higher this morning on the numbers.
“It will take a few more years for the industry box office to return near to pre-pandemic levels, and our ability to raise additional capital during this extended recovery period will be a crucial component of our success. We will continue our fight to preserve our agility and to remain on our recovery trajectory, as we work hard to position AMC for long-term success,” said CEO Adam Aron.
A hearing set for late June in Delaware Chancery Court may determine if and when AMC will have that ability to sell shares and raise cash.
That said, he noted that results represent AMC’s strongest first quarter in four years.
Losses narrowed by $102 million to $235 million, for an adjusted Eps of 17 cents a share, a also ahead of expectations.
Shares popped higher this morning on the numbers.
“It will take a few more years for the industry box office to return near to pre-pandemic levels, and our ability to raise additional capital during this extended recovery period will be a crucial component of our success. We will continue our fight to preserve our agility and to remain on our recovery trajectory, as we work hard to position AMC for long-term success,” said CEO Adam Aron.
A hearing set for late June in Delaware Chancery Court may determine if and when AMC will have that ability to sell shares and raise cash.
That said, he noted that results represent AMC’s strongest first quarter in four years.
- 5/5/2023
- by Jill Goldsmith
- Deadline Film + TV
Somehow crying tears of joy feels good in a place like this.
The viral Nicole Kidman-led AMC ad campaign may be warranting a follow-up segment, according to AMC CEO Adam Aron.
“It’s being decided right now. I’m not sure when we’re going to do it — this year or next year,” Aron told Variety. “One version has been written, but whether that’s the one we make or not, I don’t know. We’ll all see it together. We’ll try to live up to your expectations when the time comes.”
Oscar winner Kidman appeared in the commercial that first debuted in September 2021 featuring a script written by “Captain Phillips” scribe Billy Ray.
Aron continued about the partnership with Kidman, “She’s happy to hear it. I’ll share this with you. On June 10, Nicole Kidman is being honored by the American Film Institute and getting its 49th Life Achievement Award.
The viral Nicole Kidman-led AMC ad campaign may be warranting a follow-up segment, according to AMC CEO Adam Aron.
“It’s being decided right now. I’m not sure when we’re going to do it — this year or next year,” Aron told Variety. “One version has been written, but whether that’s the one we make or not, I don’t know. We’ll all see it together. We’ll try to live up to your expectations when the time comes.”
Oscar winner Kidman appeared in the commercial that first debuted in September 2021 featuring a script written by “Captain Phillips” scribe Billy Ray.
Aron continued about the partnership with Kidman, “She’s happy to hear it. I’ll share this with you. On June 10, Nicole Kidman is being honored by the American Film Institute and getting its 49th Life Achievement Award.
- 5/2/2023
- by Samantha Bergeson
- Indiewire
We come to this place for an update on when the next AMC Theatres commercial with Nicole Kidman might debut.
Speaking to Variety in an interview published on Monday, AMC CEO Adam Aron discussed when his company might release a sequel to the viral Kidman ad.
“It’s being decided right now. I’m not sure when we’re going to do it — this year or next year,” Aron said. “One version has been written, but whether that’s the one we make or not, I don’t know. We’ll all see it together. We’ll try to live up to your expectations when the time comes.”
As part of the “We Make Movies Better” marketing campaign, AMC debuted the Kidman commercial in the summer of 2021 as moviegoers were once again returning to theaters as the worst days of the coronavirus pandemic began to ebb. The spot, written by...
Speaking to Variety in an interview published on Monday, AMC CEO Adam Aron discussed when his company might release a sequel to the viral Kidman ad.
“It’s being decided right now. I’m not sure when we’re going to do it — this year or next year,” Aron said. “One version has been written, but whether that’s the one we make or not, I don’t know. We’ll all see it together. We’ll try to live up to your expectations when the time comes.”
As part of the “We Make Movies Better” marketing campaign, AMC debuted the Kidman commercial in the summer of 2021 as moviegoers were once again returning to theaters as the worst days of the coronavirus pandemic began to ebb. The spot, written by...
- 5/2/2023
- by Christopher Rosen
- Gold Derby
AMC Entertainment CEO Adam Aron saw his pay increase to $23.7 million in 2022, according to an amended 10-k report filed Monday. That was a 25% jump from 2021’s total of $18.9 million.
The majority of the executive’s pay came from $16.2 million in stock awards, with Aron also receiving $1.5 million in base pay and and $6 million in non-equity incentive plan compensation. No bonuses have been awarded since the pandemic began.
The AMC theater chain is continuing its fight to recover from the financial impacts of the pandemic, with it yet to report quarterly profits since its theaters were shut down worldwide in 2020. The company got a boost from a meme-stock surge in 2021, raising more than $2 billion through issuing shares. That financing allowed it to pay off some of its debt and diversify its revenue streams, including a minority stake purchase of gold mining company Hycroft and the launch of an at-home line of microwavable and ready-to-eat popcorn.
The majority of the executive’s pay came from $16.2 million in stock awards, with Aron also receiving $1.5 million in base pay and and $6 million in non-equity incentive plan compensation. No bonuses have been awarded since the pandemic began.
The AMC theater chain is continuing its fight to recover from the financial impacts of the pandemic, with it yet to report quarterly profits since its theaters were shut down worldwide in 2020. The company got a boost from a meme-stock surge in 2021, raising more than $2 billion through issuing shares. That financing allowed it to pay off some of its debt and diversify its revenue streams, including a minority stake purchase of gold mining company Hycroft and the launch of an at-home line of microwavable and ready-to-eat popcorn.
- 5/1/2023
- by Jeremy Fuster
- The Wrap
AMC Theatres CEO Adam Aron received compensation of $23.7 million in 2022, up 25 percent from $18.9 million in 2021, according to the debt-laden cinema giant’s proxy statement filed with the Securities and Exchange Commission on Friday.
That included a base salary of $1.5 million, no cash bonus, $16.2 million in stock awards and $6 million in non-equity incentive plan compensation.
In early 2021, AMC became a popular stock among “meme” traders after the company appeared close to bankruptcy amid the pandemic fallout at movie theater chains. The stock surge helped the company strengthen its financial position and diversify its revenue streams — the latest initiative is starting to sell branded microwave and ready-to-eat movie popcorn varieties, initially at Walmart.
Aron’s base salary rose to $1.5 million in 2022, from $1.45 million a year earlier. He took home a bonus of $5 million in 2000, but received no bonus during the last two years.
The SEC filing also revealed that CFO Sean Goodman...
That included a base salary of $1.5 million, no cash bonus, $16.2 million in stock awards and $6 million in non-equity incentive plan compensation.
In early 2021, AMC became a popular stock among “meme” traders after the company appeared close to bankruptcy amid the pandemic fallout at movie theater chains. The stock surge helped the company strengthen its financial position and diversify its revenue streams — the latest initiative is starting to sell branded microwave and ready-to-eat movie popcorn varieties, initially at Walmart.
Aron’s base salary rose to $1.5 million in 2022, from $1.45 million a year earlier. He took home a bonus of $5 million in 2000, but received no bonus during the last two years.
The SEC filing also revealed that CFO Sean Goodman...
- 5/1/2023
- by Etan Vlessing
- The Hollywood Reporter - Movie News
AMC Entertainment chief executive Adam Aron saw compensation last year totaling $23.7 million, up 25% from $18.9 million in 2021, according to an SEC filing Friday. That included a base salary of $1.5 million, a $6 million cash bonus, and stock awards valued at $16.2 million.
“Despite challenging industry and economic conditions, as has been the case since the onset of the Covid-19 pandemic, the Company remained vigilant, flexible, and focused on maximizing results. The extraordinary efforts and creativity of our management team has allowed AMC to weather the storm while some of our competitors were forced to permanently close or seek bankruptcy protection,” the giant movie theater chain said in an amended 10K, or annual report, filing.
AMC rival Cineworld, parent of Regal, filed for bankruptcy last fall in Texas.
Despite a recovering box office, AMC has significant debt and is still vulnerable to swings. It’s waiting for a legal decision in Delaware Chancery Court...
“Despite challenging industry and economic conditions, as has been the case since the onset of the Covid-19 pandemic, the Company remained vigilant, flexible, and focused on maximizing results. The extraordinary efforts and creativity of our management team has allowed AMC to weather the storm while some of our competitors were forced to permanently close or seek bankruptcy protection,” the giant movie theater chain said in an amended 10K, or annual report, filing.
AMC rival Cineworld, parent of Regal, filed for bankruptcy last fall in Texas.
Despite a recovering box office, AMC has significant debt and is still vulnerable to swings. It’s waiting for a legal decision in Delaware Chancery Court...
- 4/29/2023
- by Jill Goldsmith
- Deadline Film + TV
‘The Flash’ Dazzles Exhibitors At CinemaCon: “Emotional…Some People Crying…The Movie Will Have Legs”
Warner Bros. has no worries in The Flash.
The studio knew it had the goods on the DC multiverse movie, which brings together Ben Affleck and Michael Keaton’s Batmans, Gal Gadot’s Wonder Woman, Michael Shannon’s General Zod and a new Supergirl in Sasha Calle, and boldly premiered the movie Tuesday night at CinemaCon Las Vegas to a packed house and tons of cheers.
In a box office year that’s up 37% to date over 2022 with $2.5 billion, exhibitors after the screening were already smelling the money after the screen faded to black. More tentpoles here to get 2023 to a $9 billion box office year stateside.
Related: CinemaCon Photo Gallery With Zendaya, Timothée Chalamet, Ryan Gosling & More
Said Vue Cinemas boss Tim Richards about The Flash: “I absolutely loved it. It’s got heart, it’s got soul. You care about the characters. It’s going to be big.
The studio knew it had the goods on the DC multiverse movie, which brings together Ben Affleck and Michael Keaton’s Batmans, Gal Gadot’s Wonder Woman, Michael Shannon’s General Zod and a new Supergirl in Sasha Calle, and boldly premiered the movie Tuesday night at CinemaCon Las Vegas to a packed house and tons of cheers.
In a box office year that’s up 37% to date over 2022 with $2.5 billion, exhibitors after the screening were already smelling the money after the screen faded to black. More tentpoles here to get 2023 to a $9 billion box office year stateside.
Related: CinemaCon Photo Gallery With Zendaya, Timothée Chalamet, Ryan Gosling & More
Said Vue Cinemas boss Tim Richards about The Flash: “I absolutely loved it. It’s got heart, it’s got soul. You care about the characters. It’s going to be big.
- 4/26/2023
- by Anthony D'Alessandro and Nancy Tartaglione
- Deadline Film + TV
AMC Entertainment chief executive Adam Aron said a booming box office and sharp pivot to theatrical by studios and streamers makes him “as relaxed and confident about AMC future as I possibly can be.”
Speaking with Deadline at CinemaCon in Las Vegas on Tuesday, Aron indicated the icing on the cake would be a judge’s approval of the settlement of a shareholder lawsuit this summer, paving the way for the giant circuit to raise as much cash as it needs, if it needs, and boost its share price in a 10-for-1 reverse stock split.
AMC shareholders overwhelmingly approved plans for the reverse split, a conversion of Ape (AMC Preferred Equity) securities into AMC common stock and authorization to issue new shares. It’s not able to sell much stock now in the case of another dip, which is why Aron has said the exhibitor isn’t out of the woods.
Speaking with Deadline at CinemaCon in Las Vegas on Tuesday, Aron indicated the icing on the cake would be a judge’s approval of the settlement of a shareholder lawsuit this summer, paving the way for the giant circuit to raise as much cash as it needs, if it needs, and boost its share price in a 10-for-1 reverse stock split.
AMC shareholders overwhelmingly approved plans for the reverse split, a conversion of Ape (AMC Preferred Equity) securities into AMC common stock and authorization to issue new shares. It’s not able to sell much stock now in the case of another dip, which is why Aron has said the exhibitor isn’t out of the woods.
- 4/26/2023
- by Jill Goldsmith and Anthony D'Alessandro
- Deadline Film + TV
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The overall sentiment at this year’s CinemaCon is that of optimism. After a global pandemic shuttered theaters worldwide, and then an industry-wide pivot to streaming made theatrical release less sexy to Wall Street, Hollywood at-large seems to have gotten the message. If you want to make money on your movie, and even if you want people to watch your movie on a streaming platform, you have to put it in theaters first. That’s music to the ears of AMC’s colorful CEO Adam Aron.
“We almost ran out of cash five different times,” Aron told TheWrap in Las Vegas Tuesday. “We [had times where] we had just four to six weeks of cash [on hand].”
Aron spoke openly about how close AMC came to collapse in the first year of the Covid pandemic. The...
The overall sentiment at this year’s CinemaCon is that of optimism. After a global pandemic shuttered theaters worldwide, and then an industry-wide pivot to streaming made theatrical release less sexy to Wall Street, Hollywood at-large seems to have gotten the message. If you want to make money on your movie, and even if you want people to watch your movie on a streaming platform, you have to put it in theaters first. That’s music to the ears of AMC’s colorful CEO Adam Aron.
“We almost ran out of cash five different times,” Aron told TheWrap in Las Vegas Tuesday. “We [had times where] we had just four to six weeks of cash [on hand].”
Aron spoke openly about how close AMC came to collapse in the first year of the Covid pandemic. The...
- 4/25/2023
- by Scott Mendelson and Jeremy Fuster
- The Wrap
Shareholders in AMC Entertainment Holdings have voted to allow the parent of AMC Theatres to convert AMC Preferred Equity Units, or so-called APEs, into the company’s common shares.
During a special shareholders meeting held on Tuesday, a preliminary report was announced to indicate the Ape conversion proposal passed with 978 million votes, or 88 percent of those cast, okaying the measure, and another 124 million votes, or 11.2 percent, voting against the proposal. Just under one percent of shareholders abstained.
Shareholders by a similar margin voted yes to a second proposal by AMC to change its share structure by bringing about a reverse split of the company’s common shares at a ratio of 10:1. The wider goal is giving AMC more flexibility to issue additional common equity in the future.
The results of the special shareholders meeting paves the way for the exhibition giant to continue raising fresh cash to reduce its debt load by selling stock,...
During a special shareholders meeting held on Tuesday, a preliminary report was announced to indicate the Ape conversion proposal passed with 978 million votes, or 88 percent of those cast, okaying the measure, and another 124 million votes, or 11.2 percent, voting against the proposal. Just under one percent of shareholders abstained.
Shareholders by a similar margin voted yes to a second proposal by AMC to change its share structure by bringing about a reverse split of the company’s common shares at a ratio of 10:1. The wider goal is giving AMC more flexibility to issue additional common equity in the future.
The results of the special shareholders meeting paves the way for the exhibition giant to continue raising fresh cash to reduce its debt load by selling stock,...
- 3/14/2023
- by Etan Vlessing
- The Hollywood Reporter - Movie News
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