AMC Entertainment CEO Adam Aron said there’s room for both cinemas and streamers in the current marketplace and the latter would benefit from wider theatrical release of films. He made the comments to CNBC after Apple made history last night with Coda’s Best Picture Oscar win.
“I’ve been saying for years that the market is big enough for theaters and streamers to coexist. We’ve been involved with the streamers, especially Apple, Amazon and Netflix, for years trying to convince them to show their movies in our theaters as well as stream them. If we can convince them accordingly, I think they will even be more successful than they are now, or were last night, and AMC as well,” he said this morning.
He indicated theatrical would be fine, noting the supersized success of Spider-Man: No Way Home and touted upcoming Top Gun: Maverick, Jurassic World Dominion and Avatar 2.
“I’ve been saying for years that the market is big enough for theaters and streamers to coexist. We’ve been involved with the streamers, especially Apple, Amazon and Netflix, for years trying to convince them to show their movies in our theaters as well as stream them. If we can convince them accordingly, I think they will even be more successful than they are now, or were last night, and AMC as well,” he said this morning.
He indicated theatrical would be fine, noting the supersized success of Spider-Man: No Way Home and touted upcoming Top Gun: Maverick, Jurassic World Dominion and Avatar 2.
- 3/28/2022
- by Jill Goldsmith
- Deadline Film + TV
AMC Theatres, the biggest cinema chain in the world, is buying a 22% stake in Nevada-based gold and silver mining company Hycroft Mining Holding Corp.
AMC’s $27.9 million cash investment in Hycroft is the company’s latest attempt to shore up its finances after Covid-19 forced movie theaters to close. After evading bankruptcy and embracing its status as a meme stock last year, AMC announced plans to expand its business outside of box office by selling popcorn in shopping malls around the country.
“AMC is playing on offense again with a bold diversification move. We just purchased 22% of Hycroft Mining (Nasdaq: Hymc) of northern Nevada. It has 15 million ounces of gold resources! And 600 million ounces of silver resources! Our expertise to help them bolster their liquidity,” AMC’s CEO Adam Aron wrote on Twitter.
AMC is playing on offense again with a bold diversification move. We just purchased 22% of Hycroft Mining (Nasdaq: Hymc) of northern Nevada.
AMC’s $27.9 million cash investment in Hycroft is the company’s latest attempt to shore up its finances after Covid-19 forced movie theaters to close. After evading bankruptcy and embracing its status as a meme stock last year, AMC announced plans to expand its business outside of box office by selling popcorn in shopping malls around the country.
“AMC is playing on offense again with a bold diversification move. We just purchased 22% of Hycroft Mining (Nasdaq: Hymc) of northern Nevada. It has 15 million ounces of gold resources! And 600 million ounces of silver resources! Our expertise to help them bolster their liquidity,” AMC’s CEO Adam Aron wrote on Twitter.
AMC is playing on offense again with a bold diversification move. We just purchased 22% of Hycroft Mining (Nasdaq: Hymc) of northern Nevada.
- 3/15/2022
- by Rebecca Rubin
- Variety Film + TV
Cinema Chain AMC Entertainment Buys Stake In Mining Company; Not An “Obvious” Investment, CEO Admits
Accepting payment in crypto, retail popcorn sales, that’s one thing, but AMC Entertainment’s diversification push now includes acquiring a stake in a publicly traded gold and silver mining company.
The nation’s largest movie chain is buying 22% of Hycroft Mining Holding Corporation. It said it’s making the move alongside Eric Sprott, one of the world’s leading gold and silver investors who are putting a combined $56 million. And he described the 71,000-acre Hycroft Mine in Nevada as one of North America’s largest development sites with some 15 million ounces of gold resources and some 600 million ounces of silver. AMC will name a member to the board.
Said CEO Adam Aron: “To state the obvious, one would not normally think that a movie theatre company’s core competency includes gold or silver mining. In recent years, however, AMC Entertainment has had enormous success and demonstrated expertise in...
The nation’s largest movie chain is buying 22% of Hycroft Mining Holding Corporation. It said it’s making the move alongside Eric Sprott, one of the world’s leading gold and silver investors who are putting a combined $56 million. And he described the 71,000-acre Hycroft Mine in Nevada as one of North America’s largest development sites with some 15 million ounces of gold resources and some 600 million ounces of silver. AMC will name a member to the board.
Said CEO Adam Aron: “To state the obvious, one would not normally think that a movie theatre company’s core competency includes gold or silver mining. In recent years, however, AMC Entertainment has had enormous success and demonstrated expertise in...
- 3/15/2022
- by Jill Goldsmith
- Deadline Film + TV
In a left-field move, AMC Theatres on Tuesday announced the acquisition of a 22% minority stake in Hycroft Mining Holding Corporation, a gold and silver investment, for $27.9 million in cash.
Hycroft oversees a 71,000-acre mine in northern Nevada that independent third-party studies have said hold some 15 million ounces of gold deposits and some 600 million ounces of silver deposit, according to AMC. In addition, AMC will receive an additional 23.4 million warrants in Hycroft at $1.07 per share.
Eric Sprott, a leading gold and silver investor, is making an equal investment in Hycroft; AMC will also gain the right to name a member of Hycroft’s board as part of the deal.
“To state the obvious, one would not normally think that a movie theatre company’s core competency includes gold or silver mining,” AMC Theatres chairman CEO Adam Aron said in a statement. “In recent years, however, AMC Entertainment has had enormous success...
Hycroft oversees a 71,000-acre mine in northern Nevada that independent third-party studies have said hold some 15 million ounces of gold deposits and some 600 million ounces of silver deposit, according to AMC. In addition, AMC will receive an additional 23.4 million warrants in Hycroft at $1.07 per share.
Eric Sprott, a leading gold and silver investor, is making an equal investment in Hycroft; AMC will also gain the right to name a member of Hycroft’s board as part of the deal.
“To state the obvious, one would not normally think that a movie theatre company’s core competency includes gold or silver mining,” AMC Theatres chairman CEO Adam Aron said in a statement. “In recent years, however, AMC Entertainment has had enormous success...
- 3/15/2022
- by Thom Geier
- The Wrap
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