AMC Entertainment Inc was hit with a class-action lawsuit on behalf of preferred shareholders that are challenging its stock conversion plan, just days after the cinema operator ended a bruising legal fight with a different group of investors. AMC got court approval on Friday for a settlement of a class action lawsuit by holders of the company's common stock, clearing the way for the company to convert its preferred stock, known as APEs, to common shares. AMC, a "meme" stock that was part of a social media-fueled trading frenzy in 2021 along with other companies such as Gamestop, has said that conversion plan is key to strengthening its finances.
Why AMC Shares Are Getting Hammered Today benzinga.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from benzinga.com Daily Mail and Mail on Sunday newspapers.
AMC shares spike again, this time on months-old deal speculation
Molly Schuetz, Bloomberg News Pedestrians wearing protective masks pass in front of an AMC movie theater at night in the Times Square neighborhood of New York, U.S., on Tuesday, Oct. 15, 2020 , Bloomberg
AMC Entertainment Inc., whose shares are a favorite of Reddit-inspired day traders, jumped on Thursday after the publication of a French translation of a months-old report speculating Amazon.com Inc. would buy the worldâs biggest chain of movie theaters.
The article in Forbes France is dated today, but notes at the bottom itâs a translation of a Forbes US piece. The American version was published last May. Both versions note the Amazon acquisition idea is âpure speculation,â but cite reasons it would make sense, including the financial struggles of AMC and Amazonâs successful content arm Prime Video. Amazon and AMC didnât immediat
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AMC in Talks to Leverage European Assets for Another Lifeline
Movie-theater giant AMC Entertainment is in discussions for a potential financing package backed by its U.K.-based Odeon subsidiary
An Odeon cinema in London in November. AMC acquired the movie-theater chain in 2016. Photo: Han Yan, Timireland/Zuma Press By Jan. 6, 2021 11:20 am ET
AMC Entertainment Inc. is in talks with Apollo Global Management Inc. and other top creditors over a potential financing deal backed by the cinema chain’s European assets, according to people familiar with the matter.
AMC, the world’s largest movie theater company, is negotiating with lenders including Apollo, Davidson Kempner Capital Management LP, and Ares Management Corp. to expand the line of credit available to the company’s U.K.-based Odeon Cinemas Group subsidiary, these people said.