AMC Entertainment Unveils Deal to Sell Up to 15 Million Shares

Dade Hayes Finance EditorAMC Entertainment plans to sell 20 million of its Class A shares, netting $47.7 million, as it contends with ongoing shutdowns of many of its movie theaters and a withdrawal of studio films from the 2020 release calendar.COVID-19 hampered the release of Tenet in August and aside from less-expensive, targeted titles, wide releases have shifted to either later release dates or streaming debuts.The company disclosed the move in an SEC filing Monday.

The Bachelorette early to be with Dale? If you didn't, you would have figured it out .5 seconds into this episode when Clare says she didn't sleep well because she spent thinking about Dale.

Dave McNary Film ReporterThe beleaguered AMC Theatres chain has warned it may have to file for Chapter 11 bankruptcy if it cannot obtain additional sources of liquidity.The company made the disclosure Tuesday in a filing with the Securities and Exchange Commission about an equity distribution agreement with Citigroup Global Markets and Goldman Sachs to sell up to 15 million class A shares, with the proceeds being used for general corporate purposes.

temporarily shut down in mid-March amid the pandemic.

Jill Goldsmith Co-Business EditorAMC Entertainment expects revenues for the three months ended September 30 of $119 million versus nearly $1.32 billion for the year earlier quarter and the struggling theater anticipates material write-downs of assets, according to an SEC filing Tuesday morning with preliminary financial results.Cash and cash equivalents stood at $417.9 million.The company also said it will sell 15 million shares to raise fresh cash.

Jill Goldsmith Co-Business EditorAMC Entertainment will resume operations at a dozen theaters in New York State October 23 in accordance with Gov. Andrew Cuomo’s recent, welcome reopening announcement over the weekend that, however, still excluded New York City and a handful of other counties.NY is “vital to the theatrical exhibition industry,” the world’s largest chain said Monday.With the reopening of New York, AMC will be operational in 44 of the 45 states where it has theatres.

South Korea's Big Hit Entertainment, the company that manages global pop sensation BTS, had a dynamite trading debut Thursday in Seoul, helped by the zeal of its loyal fans. Big Hit's shares nearly doubled after their initial public offering netted more than $800 million.

Patrick Frater Asia Bureau ChiefSecuring Endeavor Content to represent a second season of a cross-cultural fantasy rom-com four years after the show’s debut was good news for “Dramaworld” and its producer, Korean-American company Third Culture Content.So, too, was the attachment of major talent, including Daniel Dae Kim, Henry Lau, and feted Korean actor Ha Ji-won (“Secret Garden,” “Duelist”).But, arguably, the greater triumph was managing to produce the show this spring.

Arguably the biggest group in the world, BTS, took over the 2020 Billboard Music Awards.

Arguably the biggest group in the world, BTS, took over the 2020 Billboard Music Awards.

Patrick Frater Asia Bureau ChiefShares of Big Hit Entertainment, the agency behind K-pop superstars BTS, soared during their stock market debut on Thursday in Seoul.Having been offered at KRW135,000 apiece, shares began trading at KRW270,000.

Todd Spangler NY Digital EditorAmazon, for the first time, will expand its NFL streaming game-plan to the league’s postseason.The ecommerce giant has acquired rights to the NFL’s Jan. 10 wildcard playoff game, one of two added by the league for the 2020 season, an NFL rep confirmed.

The other day, AMC Theatres released an SEC filing that basically said the company is going to run out of cash by the end of 2020 or early 2021 if the box office doesn’t improve over the next few months. And guess what? With “Soul” moving to Disney+, “Coming 2 America” heading to Amazon, and the major studio offerings for the next couple of months reduced to about four films (for now), things aren’t looking great for theater owners.

Jimmy Kimmel grilled “Bachelorette” Clare Crawley during her appearance on his talk show on Thursday night — and her answers have the TV host totally perplexed. Kimmel’s wife, Molly McNearney, appeared earlier in the show to give him the scoop on Crawley’s season, but her account doesn’t exactly line up with Crawley’s.

Jimmy Kimmel grilled Bachelorette Clare Crawley during her appearance on his talk show on Thursday night — and her answers have the TV host totally perplexed. Kimmel's wife, Molly McNearney, appeared earlier in the show to give him the scoop on Crawley's season, but her account doesn't exactly line up with Crawley's. As McNearney explained — and ET learned in August — Crawley's time as Bachelorette ended roughly two weeks into filming, after she fell for one of her contestants.

Jill Goldsmith Co-Business EditorExhibition shares took a beating Tuesday as AMC Entertainment announced its cash might be gone by year end and Walt Disney became the latest big content company to restructure operations around streaming.As theaters reopen to limited audiences without key New York and Los Angeles markets and a paucity of new studio fare, heavily indebted AMC said in an SEC filing that it has enough cash to last until late this year-early next and would require “material”

Denise Petski Senior Managing EditorEXCLUSIVE: Childrens Hospital alum Ken Marino, Milan Carter (Dolemite Is My Name), in a recasting, and Juliet Donenfeld (The Big Show Show) are set as series regulars opposite Julie Bowen and Stephanie Koenig in Wilde Things (fka The Big Bad Wolfes), CBS’ multi-camera comedy pilot from Will & Grace creators Max Mutchnick and David Kohan and Universal Television, a division of Universal Studio Group.Your Complete Guide to Pilots and Straight-to-Series

Dino-Ray Ramos Associate Editor/ReporterIn the next installment of “Zoom Where It Happens”, Cedric the Entertainer, Wayne Brady, LaLa Milan and Dwyane Wade will do a live, virtual table read of the classic trailblazing sitcom Sanford and Son which aired on NBC for 6 seasons from 1972 to 1977. The live table read is set for October 13 (that’s today!) at 6pm PST.The “Zoom Where It Happens” series showcases script reads of throwback sitcoms, with all-Black casts for a civic cause.

Just last week, after the surprise shutdown of Cineworld (and thus, Regal Cinemas locations) in the US and UK, AMC Theatres came out and told everyone that things should be just fine and the world’s largest cinema chain had no plans to shut down its theaters. Well, it appears that the CEO might have been speaking a bit too optimistically, as new statements from AMC point to a company on the verge of collapse.