Amazon could buy a chain of cinemas in the United States - Geeko
The closure of cinemas in the United States has severely affected the turnover of several groups, including the AMC group, which was already in a complicated situation before the Covid 19 crisis. The e-commerce giant Amazon is said to have started, in this context, negotiations with the group for a potential takeover, according to the Daily Mail.
Amazon, which already has its own streaming service - Prime Video - and which finances an increasing number of productions in Hollywood, would like to get more involved in the sector, like Netflix which had recently made the acquisition of a movie theater in the United States. Unlike its rival, Amazon only makes its own productions accessible on its platform after a few weeks of operation on the big screen. Many cinemas, however, remain very hostile to the idea of funding those they consider their future gravediggers.
An unprecedented situation
According to the Daily Mail, negotiations between the two giants have just started and nothing is guaranteed yet. Several signs, however, suggest that a rapprochement is indeed possible. First of all, because a new regulation will soon come into force on American soil, which will allow production studios to again own movie theaters - something that was no longer possible since 1948. At the At the time, the US government made the decision to ban movie majors from developing their own movie theater networks, believing that this would lead to anti-competitive practices. But today, streaming platforms are part of the landscape and operators know that they will have to deal with it.
Second, because the AMC group is still in very poor health and greatly weakened by confinement. The rumor of the takeover of AMC by Amazon has also jumped the group's action from 2 dollars to more than 6 dollars, before it stabilized around 5.2 dollars.
The AMC group represents a total of no less than 661 cinemas in the United States.
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- Covid 19
- Economic crisis
- United States
- Movie theater