AMC Theatres Refusing to Play Universal Movies in Wake of ‘Trolls World Tour’ Dispute

Exhibitors and studios might be well served to remember a saying from Mahatma Gandhi — “An eye for an eye only ends up making the whole world blind.” Instead of heeding the words of the Indian nationalist, the two camps are locked in a deadly struggle, one fueled by ego, distrust, and recrimination, that will likely leave both sides gravely wounded unless, or until, cooler heads prevail.

By Dave McNary

By Nancy Tartaglione

The CEO of AMC accused Universal of wanting to "have its cake and eat it too"

NBCUniversal CEO Jeff Shell is taking a victory lap for the decision to debut Trolls World Tour on premium VOD instead of waiting for cinemas to reopen post-coronavirus pandemic, saying it could herald a permanent change in how Universal Pictures releases its movies. Trolls World Tour racked up an estimated $100 million in on-demand rentals in its first three weeks of play in North America, more than enough to put the film on the road to profitability, according to the conglomerate.

AMC is firing back at Universal Pictures after the CEO opened up about the success of their straight to VOD success with Trolls World Tour.

By Anthony D'Alessandro

By Anthony D'Alessandro

By Anthony D'Alessandro

By Gene Maddaus

B.

Paul McCartney was part of the all-start lineup for tonight’s Global Citizen’s “One World: Together at Home” broadcast tonight. He sang a rendition of the Beatles classic “Lady Madonna.” Watch it happen below.

Cash-strapped exhibitor AMC Entertainment on Thursday said it will raise $500 million in new debt to bolster its balance sheet liquidity. "AMC intends to use the net proceeds from this offering for general corporate purposes, including further increasing AMC’s liquidity," the cinema chain said in a statement about the senior notes due in 2025 to be offered via a private offering.

By Dave McNary

The emerging narrative on Wall Street about AMC Theatres, North America's largest cinema circuit, is that the company may be on the brink of bankruptcy amid the coronavirus pandemic. The theater chain's hefty debt load is trading at highly distressed levels, and analysts have sounded the alarm that "AMC has minimal liquidity options to make it through" the virus crisis, recommending investors sell off stock before the exhibition giant files for Chapter 11 protection.

AMC Theatres looked likely to file for bankruptcy last week, a grim but impending reality that was only exacerbated by the coronavirus pandemic causing the entire movie business to shut down.

With Wall Street judging a Chapter 11 bankruptcy filing for AMC Theatres increasingly likely, B. Riley FBR analyst Eric Wold on Monday recommended investors sell off stock in the exhibition giant.

The coronavirus pandemic has taken a major toll on Hollywood's box office, as social distancing and shelter-in-place orders across the U.S. have led to release date delays, production shutdowns, theater closures, and, as a result, record-low movie ticket sales with no end in sight.