{"id":32025,"date":"2020-10-20T15:47:34","date_gmt":"2020-10-20T22:47:34","guid":{"rendered":"https:\/\/theculturednerd.org\/?p=32025"},"modified":"2020-11-28T23:16:20","modified_gmt":"2020-11-29T07:16:20","slug":"amc-could-potentially-file-for-bankruptcy-announces-plans-to-sell-shares-in-an-effort-to-stay-afloat","status":"publish","type":"post","link":"https:\/\/theculturednerd.org\/?p=32025","title":{"rendered":"AMC Could Potentially File For Bankruptcy, Announces Plans To Sell Shares In An Effort To Stay Afloat"},"content":{"rendered":"\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh3.googleusercontent.com\/5ZAVuXsFH7iubfGykppr8coaoqf3haoLiWM_mObbQvvZ-cR04kQdWEKz-gCYLl_eJd3qzws1oze2PvxAgoLTkez5ojBRBb4CL3hXEkr3bvbzpZj99oKqh7F8w9OO-Xxy2KCXX43Z\" alt=\"\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">On Tuesday October 20th, <strong>AMC<\/strong> has announced, in an effort to stay alive that their intentions are to sell 15 million shares of \u201cClass A\u201d shares. AMC was able to gain 54 million dollars last month through a similar arrangement with <strong>Citigroup<\/strong> and <strong>Goldman Sachs<\/strong>.&nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh5.googleusercontent.com\/jub7LEKVFAyL0XmpdS7GQ0J5BnvTo896xeC5-5jB1HKytVTBcSHqAT9AAJIPwkQSfAgu-aOFhgMdZGa1PbVCIA_19xeJv2WogstFwg-WR0d8bHcQFNdnjSBQuZwWFqgLdvJ1H-dP\" alt=\"\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">Many people believe that the pandemic has simply expedited the death of an already dying industry, however, theaters such as AMC also have to face an uphill battle amidst the pandemic in trying to draw in customers. With nearly all of the highly anticipated major blockbusters set to release this year getting delayed to next year, AMC and other theaters have no new movies being released to entice customers to risk potentially contracting the virus. Surely there will still be people who wouldn\u2019t be returning to the theaters even if there were new movies being released, but the people who may have considered the potential risk to see a new movie or two, aren\u2019t being offered anything tempting enough to take the (calculated) risk.&nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh6.googleusercontent.com\/zaFnq8Cxov8kfdcZiFI434xcMYlzxkJz0Kqjb6QBl1MOmp41FVnVtU3AMYdqLpOzpWOtjIqygv1zztf9ar8J-8Gdq3y6AiBBpfsnpNt_Pp8qwSvwKBvDPrgRoRXea0oNC0A8Y4Ut\" alt=\"\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><strong><em>Honest Thief<\/em><\/strong>, the action crime thriller movie starring <strong>Liam Neeson<\/strong> opened to 4.1 million dollars, and has set the record for lowest total to ever land at number one in the box office standings.\u00a0 <strong>Christopher Nolan<\/strong>\u2019s <strong><em>Tenet<\/em><\/strong><em> <\/em>has managed to gather a total of 50 million dollars domestically over  seven weeks and has seen more success overseas. This is a clear indication that theaters are struggling heavily, but also that people don\u2019t want to return to theaters without a major blockbuster to draw them in. It certainly doesn\u2019t help that <em>Tenet<\/em> is considered by many who have viewed it to be Nolan\u2019s most \u201cconfusing\u201d film. But even box office draws such as Liam Neeson in <em>Honest Thief <\/em>and Robert DeNiro in <strong><em>The War With Grandpa<\/em><\/strong> aren\u2019t enough to pull fans back into the theaters.\u00a0<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh5.googleusercontent.com\/bFCSviJS_WKHgitNaAmyGWYbgneSSv-OJ0J8CZN4xE7mPD4xIjC_ras-i5r9FJ55M0cqDI4KaLfoCwShQxqlPcaI241G09LWVYKMgOPtF36bB0N4MJ0vD8cB7yBzfecDgrBxZJcT\" alt=\"\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">Theaters argue that the lack of new content being made available to them is what&#8217;s hurting them, while others argue people don\u2019t want to return to the movies while a pandemic is going on. Both sides have very valid points, and New York and Los Angeles still have yet to reopen their theaters and are the two largest theatrical markets in the U.S. So where do theaters go from here? AMC has found short term solutions to a long term issue, and with no new movies being released to draw in customers, it&#8217;s starting to look pretty grim for the future of the theater industry. Which leads to more questions such as, where will films like <strong><em>A Quiet Place II<\/em><\/strong>, <strong><em>Dune<\/em><\/strong>, <strong><em>Fast and Furious 9<\/em><\/strong>, and <strong><em>James Bond: No Time To Die<\/em><\/strong> be released if theater chains like AMC and <strong>Regal <\/strong>close their doors permanently?&nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh6.googleusercontent.com\/zQksapeA5BEnIyL6wCEh1HYVFVd86VRUeBefUA8V0nVIOYXJaNu6l21glXg5Mh8vtOqXWigMkUO9OvDpNq2rN87xSn_xlidVZ1KMAtkjUoBReBea27qS--9lIaTIywJhJXRyGwwz\" alt=\"\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">Source:&nbsp;<a href=\"https:\/\/variety.com\/2020\/film\/news\/amc-chain-warns-bankruptcy-filing-1234810731\/\">Variety<\/a> <\/p>\n","protected":false},"excerpt":{"rendered":"<div class=\"entry-summary\">\nAMC plans to sell 15 million shares, in what is beginning to seem like a last ditch effort to stay afloat.\n<\/div>\n<div class=\"link-more\"><a href=\"https:\/\/theculturednerd.org\/?p=32025\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &ldquo;AMC Could Potentially File For Bankruptcy, Announces Plans To Sell Shares In An Effort To Stay Afloat&rdquo;<\/span>&hellip;<\/a><\/div>\n","protected":false},"author":93,"featured_media":32026,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[812,813,6,9,822],"tags":[57,3496,4405,1787,4407,1327,4406],"class_list":["post-32025","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-entertainment","category-film-tv","category-movies","category-video","tag-amc","tag-amc-theaters","tag-honest-thief","tag-liam-neeson","tag-robert-deniro","tag-tenet","tag-the-war-with-grandpa","entry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>AMC Could Potentially File For Bankruptcy, Announces Plans To Sell Shares In An Effort To Stay Afloat - The Cultured Nerd<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/theculturednerd.org\/?p=32025\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"AMC Could Potentially File For Bankruptcy, Announces Plans To Sell Shares In An Effort To Stay Afloat - The Cultured Nerd\" \/>\n<meta property=\"og:description\" content=\"AMC plans to sell 15 million shares, in what is beginning to seem like a last ditch effort to stay afloat. 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