Amazon founder Jeff Bezos has dispatched his investment advisers and top entertainment chiefs to explore acquisition plans for AMC, entertainment industry news website The Intersect reported, citing sources. — Reuters
NEW YORK: Shares of AMC Entertainment Holdings Inc jump as much as 21% following a report that eCommerce giant Amazon.com Inc was looking to buy the theatre chain.
Amazon founder Jeff Bezos has dispatched his investment advisers and top entertainment chiefs to explore acquisition plans for AMC, entertainment industry news website The Intersect reported, citing sources familiar with the discussions.
AMC and Amazon declined to comment on the report.
Amazon last year closed its US$8.5bil (RM37.4bil) deal for MGM, adding the company behind Rocky and James Bond in a bid to beef up its Prime Video streaming service amid intensifying competition.
Movie theatres are struggling to draw in crowds since the lifting of pandemic restrictions, as rising costs force people to cut spending on out-of-home entertainment and spend more on groceries and rent. — Reuters
