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Topic: AMC closing 249 more screens
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Mike Jones
Expert Film Handler
Posts: 108
From: Birmingham, MI, USA
Registered: Jul 2000
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posted 06-03-2001 10:51 PM
Troy, MichiganAMC Abbey 8 Maybe back in 1985, it was world class but within the past 5 years the quality went out the window. They closed just this past week. They used to be a first run house but as of late they haven't. I think they're newest title was Kingdom Come and went back as far as O Brother Where Art Thou. Not upset to see it go.
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Joe Schmidt
Expert Film Handler
Posts: 172
From: Billings, Montana, USA
Registered: Apr 2001
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posted 06-05-2001 12:47 AM
My guess would be we are seeing the beginning of a trend. As these incompetently-run chains drive customers away with all the bad projection and many other problems so extensively annotated in these Forums, the inevitable will come to pass. Look for a closing of 3-5,000 screens in the next 3 years.Where I live, the number of people who "Just Don't Go" any more and wait for DVD is on a steady upwards curve. Our community would be best served by a single 10-plex well-managed with good projection and I think we could get people to come back, but it cannot happen until carmike goes down. Situation Existing is a Lost Cause. But then there will be the issue of "Is Exhibition a good business to get into these days?" I'm not sure.
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John Pytlak
Film God
Posts: 9987
From: Rochester, NY 14650-1922
Registered: Jan 2000
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posted 07-23-2002 02:49 PM
More bad news from today's ShowBizData:
http://www.showbizdata.com/contacts/picknews.cfm?id=29895 "Exhibitors AMC Entertainment became the latest media company to admit to some uncustomary accounting procedures -- and saw its shares plummet as a result. The company said that it had forgiven $19.8 million in loans to Peter Brown, its chairman and CEO, and Craig Ramsey, its CFO. It also said that its first-quarter loss was wider than originally estimated. Commenting on the revelation, Daily Variety observed today (Tuesday): "It wasn't quite like yelling 'fire' in a crowded theater, but almost." Shares in the company closed at $8.80, off $2.35, a 25-percent drop. At one point during the day they were off 30 percent." ------------------
John P. Pytlak, Senior Technical Specialist
Worldwide Technical Services, Entertainment Imaging
Research Labs, Building 69, Room 7525A
Rochester, New York, 14650-1922 USA
Tel: +1 585 477 5325 Cell: +1 585 781 4036 Fax: +1 585 722 7243
e-mail: john.pytlak@kodak.com
Web site: http://www.kodak.com/go/motion
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