The American businessman, the founder of Amazon, Jeff Bezos, will buy the AMC Entertainment theater chain, writes The Intersect. His advisers have already begun to study scenarios for a possible deal.
AMC Entertainment is the world’s largest chain with hundreds of movie theaters in Europe and the United States.
Following the news of Bezos’ interest in AMC, the company’s shares rose 21%. According to the sources of the publication, Amazon wants to use cinemas around the world to promote its content and services. For example, Amazon Prime movies.
Previously, Apple chose a similar approach, the American IT giant will invest a billion dollars a year in films for theatricals. Thus, the company intends to promote the content of its streaming service.
The AMC chain has been hit hard during the coronavirus pandemic, when theaters lost a significant chunk of their profits due to the shutdown. The inflation that followed the pandemic in the United States is helping to save more among citizens. Americans try not to spend money on entertainment like going to the movies, the newspaper writes.
Since the start of the pandemic, AMC Entertainment shares have fallen in price by nearly 40%.
Author:
Natalia Gormaleva
Source: RB
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
