AMC (AMC) CEO Adam Aron is preparing to go on a shopping spree if struggling theater operators begin to sell their locations amid financial struggles.
“I think there’s going to be an opportunity for us to pick up theaters quite inexpensively and pick up really high-quality theaters and potentially quite profitable theaters,” Aron said on Yahoo Finance Live (video above). “Right now, because of the unique position we’re in, that we have liquidity and a lot of our competitors do not, I think we’re going to be able to actually pick up more very fine locations and do it at bargain basement prices.”
Movie theaters tried a range of strategies to reengage customers after pandemic shutdowns and a surge in direct-to-consumer entertainment that prompted some studios to release box office titles directly on streaming services such as Netflix (NFLX), HBO Max (WBD), and Disney+ (DIS).
But a weak box office lineup in the third quarter didn’t make that comeback story any easier for the industry,…
This article was written by and originally published on finance.yahoo.com