UPDATE 2-New York City theaters to reopen at 25% capacity with precautions, Cuomo says
(Adds AMC statement, updates share prices)
Feb 22 (Reuters) - Movie theaters in New York City canreopen on March 5 at 25% capacity with no more than 50 peopleper screen, Governor Andrew Cuomo said on Monday.
"Assigned seating, social distancing and other healthprecautions will be in place," Cuomo wrote in a tweet.
The lockdowns imposed to prevent the spread of the COVID-19pandemic have hurt theater operators.
Many including cinema chain AMC Entertainment Holdingsare struggling to stay afloat even as big studios WaltDisney and Warner Bros decided to release moviesdirectly on online streaming platforms.
After Cuomo's announcement, AMC said it will reopen all its13 theaters in New York City from Mar. 5. Theater chain Cinemarkdid not immediately respond to a request for comment.
"New York City is a major market for moviegoing in the U.S.,re-opening there gives confidence to film distributors insetting and holding their theatrical release dates," theNational Association of Theatre Owners said in a statement.
Movie theaters outside of New York City were allowed toreopen on Oct. 23 after a months-long hiatus spurred by thecoronavirus pandemic.
"We look forward to expanding the capacity from 25% to 50%in the very near future so that theatres can operateprofitably," the association said.
After closing nearly 15% higher, shares of AMC Entertainmentwere up 8.5% in extended trading, while Cinemark was up 2.2%after ending the day up 6.3%.(Reporting by Maria Caspani in New York, Lisa Richwine in LosAngeles and Chavi Mehta in Bengaluru; Editing by Jonathan Oatisand Arun Koyyur)
