AMC spikes 56% on reports Amazon may be considering a takeover
According to The Daily Mail's sources, "The duo are thought to have held talks about a potential takeover of AMC by Amazon. However, it is not clear if the discussions are still active or if they will lead to a deal," the report said.as the chain's liquidity position worsened as movie theaters shut down across the country due to the coronavirus pandemic.
If the report is accurate, the move would represent a strategic shift for Amazon as it continues to expand its physical brick-and-mortar foot print and boost its Hollywood exposure. For the most part, because of this rule, Amazon has been foregoing theatrical releases for its content and instead opting for a direct-to-consumer streaming release on its platform.
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