AMC in Talks With Arclight Landlords
AMC is currently in discussion with landlords of recently closed Arclight and Pacific theaters about potentially taking over some of the locations.
AMC raised $230 million this week through equity sales to Mudrick Capital Management.
Arclight announced back in April that due to losses during the pandemic, they would not be reopening any of their locations, including the one at Montgomery Mall.
According to an article yesterday in Variety, AMC CEO and president Adam Aron said, “Given our scale, experience and commitment to innovation and excellence, AMC is being presented with highly attractive theater acquisition opportunities,” and “We are in discussions, for example, with multiple landlords of superb theaters formerly operated by Arclight Cinemas and Pacific Theatres. With this agreement with Mudrick Capital, we have raised funds that will allow us to be aggressive in going after the most valuable theater assets, as well as to make other strategic investments in our business and to pursue deleveraging opportunities.”