AMC Theatres Has Raised $917 Million to Weather ‘Dark Coronavirus-Impacted Winter’

EXCLUSIVE: Three-time Oscar winner Ang Lee has been lauded with the Légion d’honneur (The Legion of Honor), France’s highest order of merit.

Was Chinese conglomerate Wanda Group among the surprise beneficiaries of the recent retail investor frenzy that caused a spike in the stock price of movie theater giantAMC Entertainment? A U.S.-based division of Wanda converted its Class B common stock in AMC to Class A shares on Monday, Feb. 1 "in order to permit sales of its common stock," AMC revealed in a filing with the Securities and Exchange Commission on Friday.

AMC Networks, the owner of AMC, IFC, Sundance Channel and BBC America, is making a strategic investment in Canadian indie producer Shaftesbury, maker of the long-running family drama Murdoch Mysteries. Financial terms of the deal were not disclosed, but Shaftesbury CEO and chairman Christina Jennings, who will continue in the top post, told THR that AMC Networks was making a "significant and strategic" investment in her company, which would remain Canadian owned and controlled.

Also Read: Inside AMC's Wall Street Surge: A 'David Vs Goliath' Reddit BattleMKM Partners analyst Eric Handler, in a note to clients this week, added to the grim picture, saying AMC’s share price could slip down to $1 per share this year, per Marketwatch.

Los Angeles Public Health officials have confirmed a second case of the Covid-19 variant B.1.1.7 just weeks after identifying the first instance in the county on Jan. 16.

Dark City, an episodic video game conceived, written, and programmed by Strasser that will also feature the voices of local theater artists, plus an original score by Friend.Dark City is part of a new slate of bold, diverse programming dubbed “4615 Go” that officially launches this week with It’s For You. The work of iterative, slightly improvised poetry takes shape during hour-long phone conversations between local playwright Britt A Willis and one audience member at a time.

AMC Entertainment’s shares took a steep tumble Thursday, not yet a coda to the frenetic activity around the stock market fueled by users on Reddit, TikTok, Robinhood and other social media platforms.AMC’s stock was down more than 50% on Thursday afternoon, one day after it surged more than 300% and skyrocketed to $20.31 per share.

As the stock price of movie theater giant AMC Entertainment surged on Wednesday, the private equity firm Silver Lake used the volatility to its advantage. In 2018, Silver Lake,invested $600 millioninto AMC via a debt offering due in 2024.

Also Read: AMC Theatres Has Raised $917 Million to Weather 'Dark Coronavirus-Impacted Winter'The push higher for AMC’s stock has also been spurred on by the company becoming a popular “meme stock” on the Wall Street Bets Reddit forum, where investors are betting on companies like AMC that have been heavily shorted, or bet against, by large hedge funds.

Yesterday, AMC Theatres rejoiced as the company announced that it has secured enough funding (nearly $1 billion) to keep afloat during the pandemic and well into 2021. But that doesn’t mean the company thinks everything in the film industry is going really well right now, as more studios push films out of spring and into the second half of the year.

Todd Spangler NY Digital EditorVimeo said it raised $300 million in new equity funding — giving it a valuation north of $5 billion — ahead of parent company IAC’s planned spinoff of the video hosting and services unit.The new investment in Vimeo came from T. Rowe Price Group and Oberndorf Enterprises.

While AMC Theatres, Regal Cinemas, and other major theater chains were hoping that 2021 would usher in a return to “normalcy” when it comes to people heading out to the cinema to watch a film on the big screen, it’s clear that’s not happening. In fact, we’ve seen studios already announce more delays that see most major films moving to the second half of 2021, indicating that theater chains are in for another rough six months, at least.

Cinema giant AMC Theatres has unveiled a new European financingdeal, raising more than $400 million to help the company through a difficult period with additional liquidity amid the continued coronavirus pandemic. "This means that any talk of an imminent bankruptcy for AMC is completely off the table," said president and CEO Adam Aron.

Naman Ramachandran AMC Theatres, the world’s largest cinema chain, has raised $917 million in new equity and debt capital, the company said on Monday.“This increased liquidity should allow the company to make it through this dark coronavirus-impacted winter,” the company said, adding that its “financial runway has been extended deep into 2021.”AMC has raised the finances from Dec. 14, 2020.

Nick Vivarelli International CorrespondentA new Netflix Italian original series titled “Fedeltà,” which translates as “Faithfulness,” has begun shooting in Milan. The relationship drama follows a couple in their thirties contending with the consequences of presumed betrayals.The six-episode show is based on a bestseller by author Marco Missiroli, who won Italy’s top literary prize, the Premio Strega, in 2019.

There are filmmakers working today that not only see themselves as storytellers, but they see themselves as the folks carrying the torch in the fight to push the medium of film forward into the future. You have James Cameron inventing technology and doing ridiculous special effects work in his films, such as “Avatar” and the future sequels.

Gene Maddaus Senior Media WriterOver the past decade, New York real estate billionaire Charles S. Cohen has become a leading patron of art-house cinema.

direct to your inboxThe latest coronavirus infection rates have been revealed, as cases continue to rise across Greater Manchester.Rates are still rising in all ten boroughs, but week-on-week percentage rises do not appear to be increasing as rapidly as they have in previous days.The average infection rate for England was the same as it was the previous week.Get the latest updates from across Greater Manchester direct to your inbox with the free MEN newsletterYou can sign up very simply by

Believe it or not, it’s been 20 years since “Crouching Tiger, Hidden Dragon” arrived in theaters. The film would go on to be nominated for 10 Oscars in 2001 (a record for a non-English-language film at the time), and it would end up taking home trophies for won Best Foreign Language Film, Best Art Direction, Best Original Score, and Best Cinematography.