🠈 AMC Theatres 🠊
AMC Theatres (NYSE: NYSE) is a large movie theater chain with multiplex theaters around the world. The AMC Fact Sheet dated 12/31,2013 claims the chain had interests in 345 theaters with 4,976 screens which entertained over 200,000,000 guests during the year.
The company was founded in 1920 when the Dubinsky Brothers (Maurice, Edward and Barney) purchased the Regent Theatre in Kansas City. The brothers subsequently changed their family name and the name of the company to Durwood.
After attending Harvard, Stanley Durwood took control of the theaters in 1961. He realized he could make better use of his staff by showing movies on multiple screens. Many consider this to be the invention of the Multiplex.
The company traded under the symbol AEN. In 2004, AEN company was acquired by Marquee Holdings, a private equity firm controlled by JP Morgan. Marquee sought to to issue an IPO in 2006, but found the market weak.
In 2012, AMC was acquired by the Chineses Firm Dalian Wanda for $2.6B dollars. The Dalian Wanda Group was founded by Wang Jianlin in 1988. Mr. Jianlin is currently recognized as China's second richest man.
In 2013, Dalian Wanda held an IPO for 20% of AMC which, according to Bloomberg, raised $331.6M. The Yahoo Profile, drawn 4/9/2014, gives a stock price of $24 and lists the market value of AMC at $2.33B.
ADVERTISEMENT: In 2012, AMC partnered with Fandango to sell movie tickets online. This site might receive a commission for tickets purchased online through the banner ads on this page. It is wise to buy tickets in advance for opening shows or on crowded theater nights.
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