Thursday, September 29News That Matters
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Tag: Entertainment

AMC Entertainment May Hit Up European Investors for Cash

Finance
AMC Entertainment (NYSE: AMC) stock is down a stunning 67% over the past year. The movie theater industry has not only had to deal with an underwhelming box office but also long-term concerns over the rise of streaming video and the potential for a shortened first-run movie window .AMC's fall has been even more severe than that of other large theater chains, however, due to its high level of debt. As of the end of the recent quarter, AMC had a whopping $ 4.3 billion in debt. Including capital leases, the number is almost $ 5 billion. That's very high, considering AMC has a market capitalization of just $ 1.5 billion. That debt load was due to AMC buying three other theater chains over the past year -- Carmike Cinemas, Odeon (in the U.K,  Germany, Austria...