AMC Theatres Discloses $2.17 Billion Quarterly Loss Amid Pandemic Closure

Canada's Cineplex reported a $178.4 million loss in the first quarter after the global COVID-19 crisis shuttered its theaters and out-of-home entertainment venues since March. During the latest quarter, the Canadian exhibitor posted a non-cash impairment charge of $173.1 million related to goodwill, right-of-use assets and property and leasehold charges.

Over the past three months, we’ve been fairly tongue-in-cheek with our insistence that Warner Bros.’ upcoming film, “Tenet,” really is going to dictate the return of cinemas after the COVID-19 pandemic. Obviously, “Tenet” is set to be the first major film to arrive in theaters since March and, as such, is allowing for big cinema chains like AMC, Regal, and Cinemark to reopen their doors and make some money.

Brent Lang Executive Editor of Film and MediaAMC Theatres, the world’s largest exhibition chain, is pushing back its reopening by two weeks.The move comes as coronavirus rates continue to rise in the United States, where AMC has the bulk of its operations, and after Hollywood blockbusters such as “Tenet” and “Mulan” delayed their release by several weeks. AMC said it now expects to open 450 of its more than 600 theaters on July 30.

Anthony D'Alessandro Editorial Director/Box Office EditorAs expected with NY and LA still un-opened, and Tenet, the first big event pic heading to Aug. 12, the No.

After 3-year-old Neon released Bong Joon Ho’s Parasite in theaters and earned the best picture Oscar, CEO Tom Quinn had no idea that the communal experience of theatrical movie releases would soon be cut short by the coronavirus pandemic. On Monday, Quinn talked about Neon's 180-degree turn to drive online and release movies on virtual cinema platforms while traditional movie theaters shut down during the COVID-19 crisis.

coronavirus. However, mask wearing was not a mandatory requirement for cinema-goers, only cinema workers.Speaking to Variety about the re-opening, AMC CEO Adam Aron said: “It might be counterproductive if we forced mask wearing on those people who believe strongly that it is not necessary.”Adding that he thought “the vast majority” of cinema-goers would wear masks, he said he didn’t want to make it obligatory because they didn’t want “to be drawn into a political controversy.”However, following

Brent Lang Executive Editor of Film and MediaAMC Theatres has reversed course and will require all of its guests to wear masks when it reopens. The about-face comes after AMC chief Aram Aron ignited a deluge of criticism and controversy when he told Variety that mask-wearing would be encouraged but not mandated in states where it was not a requirement.

AMC has reversed its course and said that it will now require guests to wear masks at all its movie theaters nationwide.The country’s largest theater chain was criticized for the policy Thursday when it revealed its safety guidelines, though other chains like Cinemark and Regal have not required masks either.“This announcement prompted an intense and immediate outcry from our customers, and it is clear from this response that we did not go far enough on the usage of masks.

AMC Theatres — the largest cinema circuit in the world — will open 450 of its U.S. locations on July 15 followed by the remaining 150 on July 24, in time for Disney's Mulan and Warner Bros.' Tenet.

AMC Theatres has announced plans to reopen movie theaters around the country on July 15, but one surprising detail is that the company will not require guests to wear masks in states that don’t mandate it.

Anthony D'Alessandro Editorial Director/Box Office EditorRefresh for updates: AMC has made official their U.S. reopening plans after what will be a four-month shutdown due to COVID-19 with 450 U.S.

Brent Lang Executive Editor of Film and MediaAMC Theatres, the world’s largest exhibitor, has unveiled plans to re-open after coronavirus forced it to close its more than 600 venues in the U.S. for nearly four months.The company is expected to resume operations in 450 of those locations on July 15 and expects to be almost fully operational by the time that “Mulan” debuts on July 24 and “Tenet” bows on July 31.

With exhibition giant AMC Theatres' first-quarter results in the books, Wall Street analysts on Wednesday dissected the figures and management commentary, with their main takeaway being caution.

Adam Aron said in a statement.

Gene Maddaus Senior Media WriterAMC Entertainment reported a whopping $2.2 billion loss in the first quarter on Tuesday, the result of the global theatrical shutdown.In a statement, the company said it is focused on its liquidity as it looks to fully reopen worldwide in July.“These are truly unprecedented times,” CEO Adam Aron said.

Imperial Capital analyst David Miller isn't yet ready to follow his Wall Street peers and declare a Chapter 11 bankruptcy filing from AMC Theatres as inevitable. So he raised the embattled cinema giant's stock price target on Friday ahead of AMC Theatres unveiling first quarter financial results on Tuesday.

Debt ratings agency S&P Global Ratings on Wednesday reduced yet again AMC Entertainment's credit rating after the exhibition giant unveiled plans for a debt swap for additional financial headroom. "We view the proposed transaction as distressed," the research firm said in an investors note.

Cinema giant AMC Theatres disclosed Wednesday that it expects its first-quarter financials, which were during the second half of March hit by the shutdown of its circuit, to include a loss of up to $2.4 billion, driven by a big impairment charge amid the novel coronavirus pandemic.