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AMC to reopen eight theaters in California

Credit: REUTERS/Mario Anzuoni

AMC Entertainment Holdings Inc said on Tuesday it plans to reopen eight theaters in California, one of its key markets, providing some much needed hope to an industry that has been hammered by the COVID-19 pandemic.

Oct 27 (Reuters) - AMC Entertainment Holdings Inc AMC.N said on Tuesday it plans to reopen eight theaters in California, one of its key markets, providing some much needed hope to an industry that has been hammered by the COVID-19 pandemic.

AMC said that it would reopen theaters in Northern California, including San Francisco and the greater Bay Area.

The world's largest theater chain expects to have about 540 of its 600-theatre circuit open by the end of this month.

While big theater chains such as AMC Entertainment and Cineworld Group CINE.L have reopened many locations, audiences have been thin due to virus fears and delays in major releases by studios.

Small and mid-sized theater companies have said they may not survive the impact of the pandemic.

Shares of AMC, which have fallen 62% this year, were up 4.3% in premarket trading.

(Reporting by Tiyashi Datta in Bengaluru; Editing by Shailesh Kuber)

((tiyashi.datta@thomsonreuters.com;))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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