As the outbreak worsened in mid-March, public spaces closed down to curb the spread of the deadly virus. Movie theatres were not spared with chains like Regal Cinemas, AMC, and Showcase Cinemas closing their doors. Some thought that they would resume activities within weeks. But now, almost two months later, most of these theatres are closed down. Reports suggest that most of them hope to reopen in July. Nonetheless, some of the smaller theatres operating in Texas and Georgia have tried to start resuming work. AMC appears to be the hardest-hit with experts recently saying that it could be facing bankruptcy. The company is still the most prominent theatre chain globally, with at least 11,000 screens spread around the world. Their dominance seems not to have helped its dominance looking at the company’s precarious financial situation. AMC recently made headlines when it said that it had ceased to show all Universal films after Universal’s CEO highlighted a growing preference for PVOD.
The takeover
The deal is of considerable significance currently due to the current struggles between streaming and movie theatres, which is the critical cause of AMC’s fight with Universal Studios.
