News Brief

Shares of movie theater giant AMC spike after report signals Amazon’s interest in potential takeover

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Shares of AMC were up more than 50% Monday after a report signaled Amazon’s interest in a potential takeover of the struggling movie theater chain.

  • The Daily Mail reported this weekend that the companies have discussed a deal, but it’s unclear if the talks are ongoing. Sources tell Deadline that “there are no talks.”
  • AMC has been hit hard by the COVID-19 crisis as theaters are forced to close around the globe.
  • Amazon reportedly had interest in buying Landmark Theaters in 2018. The tech giant has invested heavily in its Amazon Studios video production arm over the past several years.
  • Amazon told GeekWire it does “not comment on rumor or speculation.”

https://twitter.com/Great_Katzby/status/1259859340460199937

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