AMC Quotes Churchill Following $900M Loss - Dark Horizons
AMC Theatres CEO Adam Aron has quoted famed British PM Winston Churchill during their quarterly earnings calls with investors this week where they also revealed a truly brutal 90% drop in earnings for the third quarter of this year compared to last year. There was no way to cushion the bad news...
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AMC made only 119 million in Q3 compared with 1.3 billion the same quarter last year, a 90.9% drop in revenue. None of the major film studios who have constantly used and abused the major (and minor) theater chains for years seems to care enough with the exception of Universal Studios. An agreement between AMC Theaters and Universal this Winter will allow AMC Theaters to show Universal movies this winter for three weeks before Universal will release their movies on streaming platforms and for home release as opposed to pushing their release dates back to 2021 like over forty other films have done. Universal will even share revenue with AMC apparently on the home release.