While numerous businesses have been hit hard by the coronavirus pandemic, no business has felt it more than movie theaters. A number of studios have been able to release some of their movies to VOD streaming to stay afloat, but the role of theaters as distributors now faces an uncertain financial future. Now the financial future of AMC, arguably one of the biggest theater companies, has lead Amazon to look into the movie theater game.
Amazon has already seen some success in the movie business thanks to its service Amazon Prime Video, which offers thousands of titles to Amazon Prime subscribers. AMC’s future in the entertainment landscape, however, remains uncertain, with many experts suggesting that the company would have to file for bankruptcy soon. AMC’s financial future has lead it to be a primary target of Amazon, according to sources speaking with the Daily Mail.
Having Amazon buy out the company would rapidly change the entertainment industry, giving them control over the largest theater chain in the nation and its 11,000+ theaters around the globe. This is not the first time Amazon has considered moving into the movie theater business. The company previously considered buying Landmark Theatres, before it was bought by the Cohen Media Group.