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10 July 2020


Amazon goes to the movies

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Shares in the largest movie theater chain in the world, AMC, which has been hard hit by the lockdown, have risen 30% following rumors of conversations with Amazon regarding a possible acquisition.

Axar.az reports citing foreign media that the financial health of AMC, which now has a debt of $4.9 billion, has long been in question, and several analysts claimed that bankruptcy was simply a matter of time, which would put Amazon in the position of a white knight coming to its rescue. AMC is currently valued at under $500 million, invites speculation compared to recent past deals such as the acquisition of Whole Foods, which was worth around $13.7 billion, in June 2017.

Date
2020.05.23 / 14:56
Author
Axar.az
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