After a report was released that Amazon is interested in buying the AMC Entertainment theater chain, the titles of the firm led by Adam Aron registered a strong boost at noon this Tuesday. By contrast, the tech firm was punished on Wall Street.
At 12:47 pm, Mexico City time, AMC’s shares presented a price of US$ 5.38, which represents an advance of 18.35%.
Meanwhile, Amazon shares fell 1.22% to be valued at US$ 96.84.
During today’s session, The Intersect reported that Amazon founder Jeff Bezos has sent his investment advisers and top entertainment chiefs to explore plans to take over embattled theater chain AMC Entertainment, according to multiple sources. related.
Also read: Disney shuts down its metaverse division as part of its cuts
According to the sources cited by the outlet, Amazon would seek to use AMC’s more than 600 complexes in the United States, Europe and the Middle East to promote Amazon Prime movies, which would allow it to compete for awards, as well as offer cross-selling services such as grocery delivery, leverage them as local distribution centers, and collect data from AMC’s 200 million customers.
Amazon’s interest in AMC was confirmed by Fox News, however, there is still no firm deal “and may never be,” Fox Business senior correspondent Charles Gasparino said on his Twitter account.
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Does Amazon want theaters? Bezos interest boosts AMC shares