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AMC Theatres to Close All U.S. Locations for 6 to 12 Weeks Beginning Tuesday Morning, March 17

AMC Theatres (NYSE: AMC), announced that as of Tuesday, March 17, all AMC locations in the United States will close for at least six to 12 weeks, in compliance with local, state and federal directives, and as a precaution to help ensure the health and safety o

Benzinga · 03/17/2020 09:20

AMC Theatres (NYSE: AMC), announced that as of Tuesday, March 17, all AMC locations in the United States will close for at least six to 12 weeks, in compliance with local, state and federal directives, and as a precaution to help ensure the health and safety of moviegoers and theatre staff. AMC will continue to monitor the situation closely, and the Company will remain flexible on reopening, in accordance with CDC recommendations and governmental directives.

The COVID-19 situation has developed rapidly throughout the country over the last week, and during the last 48 hours more than a dozen states and major markets have mandated that movie theatres, bars and restaurants must close. Today, the federal government recommended no public gatherings take place that are larger than 10 people, making movie theatre operations essentially impossible. Throughout the past several weeks, AMC has complied with all CDC guidelines and governmental mandates.

As a result of the temporary theatre closures, AMC will automatically pause all A-List memberships for the time that AMC theatres are closed, with no billing or payments occurring. Members will be notified prior to this pause expiring and will have the option to choose to extend the pause for another month if they so desire. Additionally, any A-List member who did not renew their membership any time so far in calendar year 2020 will not have to wait the customary 6 months to rejoin.

AMC movie fans are encouraged to utilize AMC Theatres On Demand, which allows them to rent or buy movies from a selection of more than 3,500 titles, including recent and popular titles from every major studio. AMC Theatres On Demand can be accessed online through AMC's website, through AMC's mobile app, and through several smart TV apps.

AMC CEO and President Adam Aron said: "We are ever so disappointed for our moviegoing guests and for our employee teams that the new CDC guidelines that Americans should not gather in groups larger than 10 people make it impossible to open our theatres. Still, the health and wellbeing of AMC guests and employees, and of all Americans, takes precedence above all else. We will continue to monitor this situation very closely and look forward to the day we can again delight moviegoers nationwide by reopening AMC movie theatres in accordance with guidance from the CDC and local health authorities."