Movie fans have begun to slowly return to the theaters after the pandemic upheaval, yet the economic suffering for some of the major cinema industry players is more noteworthy than any other time in recent memory. Cineworld Group PLC, the bankrupt proprietor of Regal Cinemas, declared a week ago that it has dropped its attempt to offer their whole business after neglecting to draw reasonable offers and is pushing ahead with an arrangement to move possession to their loan bosses. AMC Entertainment Holdings Inc., which topped at a market capital of more than $31 billion throughout its double stock time, has taken a significant monetary hit, going off in less than half of its being on top worth.
The company AMC Entertainment Holdings Inc. was founded in 1920 and is a publicly traded company. It is an American movie theatre company that owns, acquires, and maintains theaters, as well as provides theatrical exhibition services. The company is headquartered in Leawood, Kansas, and operates its theaters in the United States, Brazil, the United Kingdom, Italy, Portugal, Germany, Spain, and Argentina. AMC runs the largest movie theater circuit in the world, with over 10,000 screens in more than 1,000 locations. AMC is the second largest movie theater chain in the world and it is currently the only nationwide theater chain in the U.S.
The person mentioned in the article is Adam Aron, the CEO of AMC Entertainment Holdings Inc. Aron was named CEO of AMC in 2016 and was tasked with turning around the then-troubled company. Prior to joining AMC, he served as CEO of Starwood Hotels and Resorts and created the modern-day “buzzword” hotel guest experience. He also held high-ranking executive roles at Vail Resorts and US Airways. Under his leadership, AMC has undergone an impressive transformation, with the business refocusing on creating an innovative and immersive cinematic experience for moviegoers. Under his guidance, AMC has implemented a number of initiatives, such as adding reclining seating, IMAX with laser technology, Dolby Cinema, and others. He has also overseen the growth of the company’s subscription-based loyalty program and partnership with MoviePass.