Amazon Is Reportedly Looking to Buy AMC Theaters

There have been reports that AMC is in financial trouble. I’m sure a lot of movie theaters are feeling the financial pain of being shut down over the COVID-19 pandemic. It was previously reported that AMC might not survive, but then later they said they would not screen any Universal Pictures movies like they were in a good enough position to do that.

Well, according to The Daily Mail, Amazon is now looking to purchase AMC Theaters, which is the world’s largest cinema chain. They also own Odeon Cinemas in the UK.

The report says that Amazon and AMC have had talks about a potential takeover. “However, it is not clear if the discussions are still active or if they will lead to a deal.” This report caused AMC’s stock to soar. If the deal happens, it would be a hugely pivotal moment in film history and give the streaming giants an even tighter grip on Hollywood.

There was talk about movie studios buying up theaters if the pandemic forced them to close down, but streaming services buying them is a different story. That will shake things up even more! With AMC reportedly on the verge of bankruptcy, Amazon has the opportunity to buy it on the cheap.

This isn’t the first time that Amazon was looking to buy a movie theater chain. Back in 2018 they were looking into acquiring Landmark Theaters.

What do you think about Amazon looking to buy AMC Theaters? What do you think about streaming service getting to the movie theater game in general?