Movie Theaters

[raptors661]

Adam Aron got a raise and many employees got the ax. Should have seen it coming.

[JediJones77]

Originally Posted by Lee A Stewart

Oh by the way. Did AMC use their windfall to buy back stock? No. How about pay down debt? No. But their CEO got a $5 million bonus. And they bought some more movie theaters in California.

AMC cleared a lot of debt with the stock windfall earlier this year.

https://www.polygon.com/movies/2021/...ebt-conversion

This week’s bizarre “meme stock” rally, which has delivered lottery-like windfalls for holders of GameStop stock, also wiped out $600 million in debt owed by the AMC theater chain.

That’s because, on Wednesday, a private equity firm named Silver Lake — and private equity firms are popularly considered the “bad guys” in this snobs-versus-slobs drama — elected to convert the corporate bonds it held into AMC Entertainment Holdings stock. Although the theater chain’s stock price has tumbled and soared since the move, the debt relief is permanent.

Wiping out more than half-a-billion dollars in debt, though, should take a lot of pressure off AMC in the short term.

And a more recent article:

https://www.thewrap.com/how-much-wil...-the-long-run/

“They have over $1 billion of cash and still have quite a bit of debt, but they are doing the right thing, selling equity at elevated levels and using the proceeds either to grow or to pay down debt,” said Wedbush financial analyst Michael Pachter. “I think the CEO deserves congratulations for being willing to sell stock up here, since he is charged with keeping the company in good shape. He has navigated the COVID seas and avoided the icebergs, and deserves accolades for doing so.”

While it is a risk for a company with nearly $5 billion in debt to use its new windfall on more acquisitions, very little of AMC’s debt is immediate. According to the company’s financial reports, only about 10% of its debt — $418 million — is due within the next three years.

[mwynn]

2017 was not a kind year for Paramount. That year, the movie production giant saw a loss of $445 million; where $100 million loss was from Transformers: The Last Knight alone.

Enter Jim Gianopulos.

Mr. Gianopulos took decisive action to turn things around for Paramount and it worked. At the end of 2017, Paramount Pictures entered a new agreement with Hasbro, where the toy giant would chip in more money to their movies but at greater creative control.

So the Snake Eyes failure is going to be blamed on Hasbro.

The Hasbro deal expires again at the end of 2022. So anything Transformers related should be fast track. While Hasbro tries to find a new partner.

Rumors for now. Yet I believe that Disney was circling Hasbro a few years ago.

[Lee A Stewart]

According to Morningstar.com, AMC has total debt of $11.05 billion against $810 million in cash for net debt of $10.24 billion. Jul 22, 2021

AMC is a $26B company.

[JediJones77]

https://www.benzinga.com/news/21/08/...-debt-overview

According to the AMC Entertainment's most recent balance sheet as reported on May 6, 2021, total debt is at $6.07 billion, with $6.04 billion in long-term debt and $32.50 million in current debt. Adjusting for $813.10 million in cash-equivalents, the company has a net debt of $5.26 billion.

[Lee A Stewart]

Originally Posted by JediJones77

https://www.benzinga.com/news/21/08/...-debt-overview

According to the AMC Entertainment's most recent balance sheet as reported on May 6, 2021, total debt is at $6.07 billion, with $6.04 billion in long-term debt and $32.50 million in current debt. Adjusting for $813.10 million in cash-equivalents, the company has a net debt of $5.26 billion.

That's May. My post is from July. - You lose

[Lee A Stewart]

AMC Stock Faces a Day of Reckoning as Its Debt Load Multiplies

https://investorplace.com/2021/07/am...nd-the-corner/

[mwynn]

Originally Posted by Lee A Stewart

AMC Stock Faces a Day of Reckoning as Its Debt Load Multiplies

https://investorplace.com/2021/07/am...nd-the-corner/

Hey lets go buy some more theaters, that is a good idea. Are they nearing a point where they could be delisted?

How are they going to pay on a 63% interest rate without some kind of bail out?

[JediJones77]

Originally Posted by Lee A Stewart

That's May. My post is from July. - You lose

Your article link says it added in those extra billions because of "operating lease liabilities." They decided to call it debt for some reason, but no one else considers that debt.

Originally Posted by mwynn

How are they going to pay on a 63% interest rate without some kind of bail out?

Umm, what? They do not have a 63% interest rate. The article says it's 3.195%.

[JayTL]

Originally Posted by mwynn

Hey lets go buy some more theaters, that is a good idea. Are they nearing a point where they could be delisted?

How are they going to pay on a 63% interest rate without some kind of bail out?

But we just have to spend money to improve screens and speakers. And an ad campaign

[mwynn]

Originally Posted by JayTL

But we just have to spend money to improve screens and speakers. And an ad campaign

Those screens will look great when they tear the building down, because they cannot convert them to apartments.

[mwynn]

https://www.courier-journal.com/stor...ws/5782913001/

The 46-year-old storied venue at 4014 Dutchmans Lane announced Tuesday that in response to challenges presented by the coronavirus pandemic, it decided to become a "first-run movie theater."

“As the movie theater industry evolves in the wake of COVID and streaming services, we felt it was time to reprogram our offerings at Village 8,” Les Aberson, owner of Apex Entertainment said in a statement Tuesday. “Customers will still be able to watch movies at a significantly lower price than what they would pay at a big chain.”

While that means customers can catch current releases — Village 8 previously showed second-run movie releases — it also means prices are going up: Showings after 6 p.m. will now cost $8 per adult instead of the prior $4 charge. And matinee showings, or those before 6 p.m., will now be $5 instead of $3 per ticket.

[JayTL]

Originally Posted by mwynn

Those screens will look great when they tear the building down, because they cannot convert them to apartments.

Says you. I'd take an empty movie theater screen as a studio apartment in a ****ing heartbeat

[mwynn]

Originally Posted by JayTL

Says you. I'd take an empty movie theater screen as a studio apartment in a ****ing heartbeat

They converted a movie theater here to an Office.

The new owner of SouthSide Works will shut down its movie theater as part of a $37 million makeover of the riverfront complex.

New York-based Somera Road plans to convert SouthSide Works Cinema into the Box Office, a 77,000-square-foot innovative and creative office space designed to attract tech tenants and others.

The conversion is part of $37 million in improvements that will include changes to the SouthSide Works town square and streets, expanded green space, more public art, and children’s and dog play areas.

Bethlehem’s Boyd Theatre to turn into 14-story luxury apartment building with rooftop restaurant

https://www.lehighvalleylive.com/bet...estaurant.html

[JayTL]

I don't want it converted. I want an empty movie theater as a house. Screens and projectors and creepy hallways and all.

[mwynn]

Originally Posted by JayTL

I don't want it converted. I want an empty movie theater as a house. Screens and projectors and creepy hallways and all.

[JayTL]

Originally Posted by mwynn

Maybe that's where theaters are messing up. Instead of paying the theater to rent out a screen for a couple hours, they should just convert half of it into a living space and charge rent.


They have showers there, right?!?

[mwynn]

Originally Posted by JayTL

Maybe that's where theaters are messing up. Instead of paying the theater to rent out a screen for a couple hours, they should just convert half of it into a living space and charge rent.


They have showers there, right?!?

Some might, if not there are sinks.

[cheez avenger]

Originally Posted by Lee A Stewart

The middle of January this year AMC stock was selling for $2.03 a share.

AMC and Gamestop were the two stocks the "Reddit Gang" drove up to ridiculous prices. It's VERY dangerous money wise to play the game of Musical Chairs with stocks. At some point the music stops and someone is left without a seat meaning they took a financial bath. The more the music is played, the more chairs are removed, meaning more investors will take a bath.

Oh by the way. Did AMC use their windfall to buy back stock? No. How about pay down debt? No. But their CEO got a $5 million bonus. And they bought some more movie theaters in California. This is the corporation you are telling us is on the balls of it's ass.

Just a minute . . .

They only bought three theaters:




https://www.latimes.com/entertainmen...in-los-angeles


EDIT - In fact, the Americana theater opened weeks ago as an AMC. The Sherman Oaks one was formerly an ArcLight Cinemas theater, so I'm sure that one needs a much bigger overhaul before it reopens. The AMC at The Grove has already opened, too.

[Jennifer Lawrence Fan]

This thread and site overall anymore just makes me depressed.