Giant theater chain AMC Entertainment has promoted Ellen Copaken to SVP Marketing, effective immediately. She was also appointed to sit on the company’s management executive committee.
22.07.2023 - 01:29 / deadline.com
In a contorted legal case, a Delaware judge today struck down a settlement that would have helped AMC Entertainment move ahead with steps to raise cash and shore up its stock.
“To cut to the chase, the settlement cannot be approved as submitted,” Judge Morgan Zurn of Delaware Chancery Court wrote in a 69-page opinion released today. Her ruling followed several days of hearings earlier this summer in a suit initially brought by a group of AMC investors who challenged the company’s plans to convert preferred equity into common stock. The exhibitor and the shareholders subsequently reached a settlement in the case but that required the judge’s approval.
Long and short: If AMC has to raise cash in a pinch, it will need to sell AMC Preferred Equity units, or APEs, which are worth much less than its common stock. The APEs fell 14% to $1.54 in late trading today. AMC common shares surged 63% to $7.17 after what could, however, become a problematic ruling for the chain.
AMC avoided bankruptcy during and after Covid as retail investors piled into the stock with gusto. And the box office has made major strides, including this great looking weekend. CEO Adam Aron told Deadline in April that he viewed today’s ruling as “the icing on the cake” of a turnaround. “I will be more confident after this, after we have the ability to implement the shareholder vote,” he added. “When you have the flexibility to raise capital if you need to, it’s really important. Whether we will need to or not depends on what … the box office is this year,” Aron told Deadline then.
Now, there’s added risk that an actors’ strike could pressure the release schedule as soon as the fourth quarter for big films that need the traction of press tours by name
Giant theater chain AMC Entertainment has promoted Ellen Copaken to SVP Marketing, effective immediately. She was also appointed to sit on the company’s management executive committee.
AMC Entertainment’s CEO Adam Aron warned that the chain risks financial peril if it can’t raise fresh cash as needed while exhibition continues its post-Covid recovery amid Hollywood strikes.
Amyl and the Sniffers‘ frontwoman Amy Taylor is set to be a guest judge on the next season of the Australian version of RuPaul’s Drag Race. The singer shared a photo of her sitting on the judging panel on her upcoming appearance in the show on her Instagram.
Top exhibitor AMC Entertainment rode the box office revival in the second quarter, beating Wall Street forecasts and returning to profitability.
Iggy Azalea has chosen a side in the courtroom controversy between Tory Lanez and Megan Thee Stallion.
plaintiff has found himself in far more serious legal trouble.Negasi Zuberi, 29, who uses several aliases, was taken into federal custody last week after allegedly kidnapping, assaulting and imprisoning a Washington sex worker at his home in Klamath Falls, Oregon, last month.According to the FBI, on July 15, 2023, Zuberi drove to Seattle where he hired a sex worker and then pretended to be an undercover police officer in order to place her in handcuffs and leg irons and put her in his car. He allegedly sexually assaulted her as he drove back to Klamath Falls, and, upon returning to his home, allegedly put her in a makeshift cell that he built in his garage out of cinderblocks, locking the door from the outside.
A federal judge tossed out Donald Trump’s counterclaim against E. Jean Carroll, the writer who won a $5 million jury verdict earlier this year after it found the former president liable for sexual abuse and defamation.
A judge ruled that charges against "Rust" armorer Hannah Gutierrez-Reed will not be dropped ahead of a preliminary hearing. Gutierrez-Reed appeared in court virtually Tuesday, where her lawyer Jason Bowles argued that the charges against her should be dropped due to structural issues with the case along with statements made to the media. The armorer was hit with involuntary manslaughter and evidence tampering charges after handling a gun that fired on the set of "Rust." Actor Alec Baldwin had been holding the gun when it discharged, killing cinematographer Halyna Hutchins on Oct.
A Santa Fe judge today denied Rust armorer Hannah Gutierrez-Reed’s request to have the charges against her dismissed over prosecutors’ recent statements to the media.
Gene Maddaus Senior Media Writer A Santa Fe judge on Tuesday denied a defense motion to throw out the “Rust” prosecution, keeping the case on track for a key hearing that begins next week. Hannah Gutierrez Reed, the film’s armorer, faces charges of involuntary manslaughter and tampering with evidence. She is accused of loading a live round into Alec Baldwin’s gun on Oct.
ITV has axed The Voice Kids, according to reports. The singing contest, judged by Danny Jones, Pixie Lott, Ronan Keating and Will.i.am won’t be returning to TV screens next year.
embattled “American Idol” judge recently promoted a music video on social media that wasn’t her own.The clip, which belonged to “Idol” alum Michael J.
CEO Adam Aron said a court ruling Friday that makes it harder for AMC Entertainment to raise cash has serious implications for the circuit’s financial stability — a blowout ‘Barbenheimer’ weekend at the box office and surging share price notwithstanding.
AMC Entertainment set a new post-Covid record for global admissions revenue this past weekend with Barbie and Oppenheimer leading a charge that drew 7.8 million moviegoers to theaters.
AMC Networks dropped a teaser for season 2 of Anne Rice’s Interview with the Vampire featuring Delainey Hayles as the new teenage vampire Claudia.
reads the description of the exclusive convertible, which acts as a popcorn vessel. “This collectible Barbie car popcorn container recreates the iconic pink Corvette seen in Barbie The Movie.”“With a curvy silhouette and retro trims, the vintage-inspired convertible is a piece of art on four wheels!” it continued. On Twitter, AMC Theaters elicited a less-than-enthusiastic reaction from Mattel fans.
AMC Entertainment is dropping Sightline, a controversial variable pricing program for seating it announced earlier this year.
Jennifer Pedranti is new to The Real Housewives of Orange County this season, but she’s already on the rocks with costar Tamra Judge.
Aaron Judge doesn’t mind that his American League record for home runs may last only one season.
With “The Flash” perhaps taking the crown as the biggest box office bomb of 2023—with “Shazam! Fury of the Gods” in the running as well—this year hasn’t been really great for DC superhero films. Next up, you have “Blue Beetle,” which doesn’t look like it’s going to fare much better.