AMC is enjoying the box office success of summer hits such as “Barbie” and “Oppenheimer” but faces liquidity challenges, according to CEO Adam Aron.
AMC Entertainment Holdings Inc. is enjoying strong demand from moviegoers, but faces ongoing liquidity challenges, says CEO Adam Aron.
Last... AMC Entertainment Holdings Inc. is enjoying strong demand from moviegoers, but faces ongoing liquidity challenges, says CEO Adam Aron. Last month, in an open letter to shareholders, Aron warned that, if AMC AMC is unable to raise equity capital, the risk “materially increases” of the company 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 its debt.AMC’s plan to convert its AMC Preferred Equity units APE to common stock was blocked last month when a Delaware judge rejected a settlement that would have allowed the deal to proceed.
On Sunday the AMC CEO also discussed the successes of “Barbie” and “Oppenheimer,” noting that the former has hit $1 billion at the box office and the latter has hit $500 million. “In only 3 weeks for Barbenheimer, the results so far should take your breath away!” he tweeted. “Barbie has crossed $1 billion in movie theatre ticket sales worldwide. Oppenheimer crossed a half billion dollars. The ‘movie theatres are dead’ prognosticators are Ducking Wrong! Quack, quack.
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