Wanda Sells Off AMC...

[Mark Gulbrandsen]

I think we all knew this was eventually going to happen...

"Wanda has had a controlling stake in the exhibition giant since 2012, but January's Reddit-fueled rally saw the company trade in its super-voting Class B stock for Class A common stock, giving up control but giving it the option to cash out."

https://www-hollywoodreporter-com.cd...234957189/amp/

[Martin McCaffery]

Indeed, in its latest quarterly earnings call, Aron embraced the Reddit investors.

“These individual investors likely own a majority of our shares, they own AMC. We work for them. I work for them,”

This can't end well.

[Marcel Birgelen]

I guess AMC is in such a vulnerable position, it will eventually be gobbled up by some investor. I can't really see them functioning as an independent listed company in their current state. They're going to need some financial backing other than some bubble-fueled market-valuation.

[Bobby Henderson]

Like so many companies they'll likely wind up under control of some "private equity" firm of people whose only expertise is trading stocks. Basically people who don't know a damned thing about the movie theater business will be calling the shots. We've seen this happen with so many other kinds of businesses. Look at what happened with Sears: it's a shell of its former self thanks in large part to a "vulture capital" firm undermining it and hollowing it out over many years.