AMC scraps plans to acquire Cineworld theaters
Yahoo Finance Live anchors discuss AMC’s decision to terminate acquisition of Cineworld theaters.
Video Transcript
JULIE HYMAN: The now bankrupt Cineworld group takes a blow as AMC terminates talks of acquiring some of Cineworld's theaters. This had been bandied about for quite a while that AMC might take an interest in Cineworld to further have economies of scale, but it sounds like it's not happening anymore.
BRAD SMITH: Yeah. And this is actually some inclination that we had gotten from our conversation with AMC CEO Adam Aron, who had said that, look, we're going to be looking for some of the other locations that are fluttering right now at bargain basement prices. And so the investors, the street certainly paid attention to that. And it's clear that AMC was on the offense at this point in time, but you wonder what has really taken place in the environment.
BRIAN SOZZI: Of course. I think you wrote that story up. There's just a huge reader interest on yahoo.com for that story, Brad, which I think goes to show there's an appetite, I think, for consumers to come-- for an AMC to come in there and run a better theater, but just doesn't appear to be happening.
BRAD SMITH: And different ways that they would run it too, like the Zoom theaters that they've been talking about, repositioning some of those venues for it too.
JULIE HYMAN: All right. Well, I'm going to buzz this, because we're out of time.
