Cinema chain AMC warns it may not survive the pandemic

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AMC Theater sign
Photo: AMC Theatres

By TALI ARBEL
AP Technology Writer

Movie theater chain AMC warned Wednesday that it may not survive the coronavirus pandemic, which has shuttered its theaters and led film studios to explore releasing more movies directly to viewers over the internet. All of AMC’s theaters are shut down through June, which means the company isn’t generating any revenue. AMC says it has enough cash to reopen its theaters this summer, as it plans to do. But if it’s not allowed to do that, it will need more money, which it may not be able to borrow. After reopening, it may still have problems if entertainment companies delay releasing new films. Cinemark, another major movie chain, plans to begin reopening U.S. movie theaters on June 19.

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