Amid financial downturns caused by the COVID-19 lockdowns, in January 2021, Wanda's ownership was increasingly diluted due to new financing by AMC, as well as short squeezes that resulted in Silver Lake converting its $600 million debt holding to equity.
According to Variety, Stanley Durwood later claimed in 1962 that he "was standing in the lobby of his 600-seat Roxy in Kansas City mulling over its poor grosses, when he realized he could double his box office by adding a second screen and still operate with the same size staff.
[10][11][7] The industry quickly embraced the multiplex concept, where additional screens meant very little difference in staff and operating costs but resulted in a significant profit increase.
[19] In January 2002, the 16-screen Great Northern theatre was opened in Manchester in the U.K., marking the chain's return to the UK market after 14 years.
The disability rights group had accused the company of only providing closed captioning or audio description systems at some of its locations in the state.
[41] Wang Jianlin, CEO of Dalian Wanda Group, announced that the company would plan to spend $500 million renovating AMC locations.
[50] In September 2018, Silver Lake Partners made a $600 million investment in AMC Theatres, whose proceeds were used to repurchase approximately 32% of Wanda Group's class B common stock.
[54][55][56] On March 18, 2020, AMC announced the closure of all of its theaters due to the COVID-19 pandemic, in compliance with CDC guidance against any gathering of over ten people.
All furloughed corporate AMC employees and associates retained active employment status, including all health benefits.
The company threatened that this will also be done with any other studio "who unilaterally abandons current windowing practices absent good faith negotiations between us, so that they as distributor and we as exhibitor both benefit and neither are hurt from such changes.
[61] On August 20, 2020, AMC began the process of reopening selected locations in the United States where allowed under local health orders.
[66][67] The next day, as part of a wider series of short squeezes coordinated by the Reddit community r/wallstreetbets (which primarily targeted video game retailer GameStop), AMC experienced a major, 300% surge in its share price to a peak of $20.36.
CEO Adam Aron stated that AMC was facing the "most challenging market conditions in the 100-year history of the company", but cited progress on COVID-19 vaccinations, decisions to allow cinemas in New York City and Los Angeles to re-open, and a "significant" number of upcoming blockbuster films as signs of optimism.
[52][74] In June 2021, retail investors once again poured into AMC stock, propelling shares to an all-time high of $77.26 in another alleged short squeeze.
The cinema chain operator said it believed current prices reflected "market and trading dynamics unrelated to our underlying business".
[citation needed] In February 2023 AMC announced plans to test a dynamic pricing model for tickets for showings that occur after 4pm based on seat location.
On March 26, 2009, AMC announced an agreement to convert 1,500 existing auditoriums to fully digital 3D screens using RealD technology.
The Planet Movies by AMC venture planned to open complexes worldwide with the objective of having icon locations in major metropolitan and other select areas, like Orlando and Columbus.
Initially, seven existing, unnamed AMC megaplex theaters with more than 150 combined screens were to be re-branded under a license arrangement to incorporate certain elements of the new concept.
The continued poor financial performance of Planet Hollywood led the company to declare bankruptcy in December 1998, and even before the first location had opened stated that "the joint venture has no definitive plans to expand this concept once the Columbus site is completed".
The Planet Hollywood restaurant and All Star Café in Columbus were closed in late 2000, and the film memorabilia were also removed from the theater as it was rebranded AMC Easton 30, and continues to operate.
[124][125][126] In July 2021, AMC Theatres partnered with American artist Chance the Rapper and his content production company House of Kicks in a trailblazing international distribution agreement to bring his concert film Magnificent Coloring World to cinemas internationally, marking the first time an individual recording artist distributed a film through AMC.
[128][129] In January 2022, AMC Theatres started selling popcorn via food delivery, before entering supermarkets, in order to compensate for the COVID-19 pandemic-induced downturn in movie theaters.
On March 3, 2016, AMC announced its intent to acquire Carmike Cinemas in a $1.1 billion deal, pending regulatory and shareholder approval, which would allow it to overtake Regal as the United States' largest movie theater chain.
[144] In July 2016, UCI & Odeon Cinema Group was sold to AMC for approximately $1.21 billion, subject to European Commission approval.
[156] The early versions of stadium-style seating as built by AMC in 1995 had auditoriums configured with an entrance to a flat area immediately in front of the screen for wheelchair users.
Since some wheelchair users have limited neck movement range, this configuration made AMC a popular target for Americans with Disabilities Act (ADA) lawsuits.
[157] AMC subsequently solved the problem in newer theaters by building full-stadium auditoriums where the main entrance is through a ramp that emerges onto a platform in the middle of the risers so that wheelchair users can enjoy optimal line-of-sight.
However, the U.S. Department of Justice sued the company, and obtained an order requiring AMC to retrofit over 1,990 screens in 95 multiplexes and megaplexes across the United States.
Therefore, the court ruled that it was unfair to AMC to retroactively hold it to a standard that did not exist at the time it began building stadium-style theaters.