AMC is watching the ArcLight.
With theaters coming back strongly after the pandemic, AMC is looking to expand its influence in the market and take over some of the theaters that didn’t survive. AMC Entertainment announced that it will raise $ 230.5 million for major cinematic acquisitions aimed at acquiring ArcLight Cinemas and Pacific Theaters.
These sites would also help AMC buy some prestigious locations, including the historic Los Angeles Cinerama Dome.
Adam Aron, CEO of AMC Entertainment, said in a statement: “Given our size, experience and commitment to innovation and excellence, AMC offers highly attractive theater buying opportunities … theaters previously operated by ArcLight Cinemas and Pacific Theaters.”
While this power consolidation could hurt the indie market, as AMC is not known as the bastion of those voices, it is preventing large studios from buying theaters and just running their titles. And it allows some of the historic locations to continue showing movies as they have long done, instead of being bulldozed.
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