History of AMC Theatres in Timeline
AMC Theatres is the world's largest movie theater chain, headquartered in Leawood, Kansas. Founded in 1920 in Kansas City, Missouri, it holds the largest share of the U.S. theater market. Through acquisitions, including Odeon, UCI Cinemas, and Carmike Cinemas in 2016, AMC expanded to become a global leader. It operates thousands of screens across hundreds of theaters in both the United States and Europe.
1920: Dubinsky Brothers Found AMC Theatres
In 1920, AMC Theatres was founded by Maurice, William, Irvin, Edward, and Barney Dubinsky.
1920: AMC Theatres Founded
In 1920, AMC Theatres, originally named American Multi-Cinema, was founded in Kansas City, Missouri.
1929: Maurice Dubinsky Dies
In 1929, Maurice, the oldest Dubinsky brother, passed away.
1936: Barney Dubinsky Leaves the Company
In 1936, Barney Dubinsky left the company after being injured in an auto accident.
1945: Stanley Durwood Joins the Company
In 1945, Stanley Durwood joined the company after leaving the U.S. Air Force after World War II.
1947: Expansion with Liberty Theater Acquisition
In 1947, the company expanded with the acquisition of the Liberty Theater in downtown Kansas City, which was remodeled and renamed the Roxy.
1961: Stanley Takes Control of Durwood Theatres
In 1961, after Ed died, Stanley took control of Durwood Theatres, a small ten-theatre chain.
1962: Stanley Durwood Mulls Over Roxy's Poor Grosses
According to Variety, in 1962, Stanley Durwood realized he could double his box office by adding a second screen and still operate with the same size staff.
1963: Parkway Twin Theatre Opens
In 1963, the Parkway Twin Theatre, AMC's first foray into the multiplex model, opened with two theaters side-by-side on Kansas City's Ward Parkway.
1966: Metro Plaza Opens
In 1966, AMC opened the Metro Plaza, a four-screen theater in Kansas City.
October 1, 1968: Name Change to American Royal Cinema
On October 1, 1968, Durwood Theatres was renamed American Royal Cinema, but the name was later changed to American Multi-Cinema, Inc.
1969: Six-Screen Theater Opens in Omaha
In 1969, AMC opened a six-screen theater in Omaha.
1983: Initial Public Offering
In 1983, AMC Theatres had its initial public offering.
1985: First Overseas Multiplex Built
In 1985, AMC Theatres built its first multiplex overseas, the 10-screen multiplex at The Point, Milton Keynes in the United Kingdom.
October 1988: Joint Venture Announced
In October 1988, AMC Theatres announced a joint venture with United Artists Theaters and Cinema International Corporation to run their combined cinemas in the UK and Ireland under the AMC name.
1988: Opening of Kinepolis Brussels
In 1988, Kinepolis Brussels, the first megaplex in the world, was opened by Kinepolis.
July 1994: AMC partners with Sony for SDDS installation
In July 1994, AMC signed an agreement with Sony to begin installing Sony Dynamic Digital Sound (SDDS) in auditoriums.
April 1996: Canal City 13 Opens in Japan
In April 1996, AMC opened Canal City 13 in Fukuoka, Japan.
December 13, 1996: Ontario Mills 30 Opens
On December 13, 1996, AMC opened the Ontario Mills 30, a 30-screen theater in Ontario, California, which at the time was the largest multiplex in the world.
December 20, 1996: AMC Arrábida 20 Opens in Portugal
On December 20, 1996, AMC opened the AMC Arrábida 20 in Porto, Portugal.
December 1998: Planet Hollywood Declares Bankruptcy
The continued poor financial performance of Planet Hollywood led the company to declare bankruptcy in December 1998, stating the joint venture has no plans to expand.
October 1999: Planet Hollywood focuses on core restaurant business
As Planet Hollywood was preparing to emerge from bankruptcy in October 1999 their re-organization plan emphasized focus back on their core restaurant business and away from side-ventures like Planet Movies and their Cool Planet ice cream chain.
1999: Stanley Durwood Dies, Peter Brown Appointed
In 1999, Stanley Durwood died, and Peter Brown became the first non-Dubinsky/Durwood family member to head the company.
2000: Planet Hollywood Closes All Star Cafe
In 2000, The Planet Hollywood restaurant and All Star Café in Columbus were closed, and the film memorabilia were also removed from the theater as it was rebranded AMC Easton 30, and continues to operate.
January 9, 2001: Planet Movies joint venture formally dissolved
On January 9, 2001, The Planet Movies by AMC joint venture was formally dissolved.
January 2002: Return to the UK Market
In January 2002, the 16-screen Great Northern theatre was opened in Manchester in the UK, marking the chain's return to the UK market after 14 years.
March 2002: AMC purchases General Cinema Corporation
In March 2002, AMC purchased General Cinema Corporation, adding 66 theaters with 621 screens to its assets, along with Gulf States Theaters.
October 2003: Birmingham Cinema Opens
In October 2003, AMC Theatres opened a 12-screen cinema on the Broadway Plaza site in Birmingham.
2004: Acquisition by Marquee Holdings Inc.
In 2004, AMC Theatres was acquired by Marquee Holdings Inc., controlled by affiliates of J.P. Morgan Partners, LLC, and Apollo Global Management.
January 26, 2006: AMC merges with Loews Cineplex Entertainment
On January 26, 2006, AMC merged with Loews Cineplex Entertainment to form AMC Entertainment, incorporating the Loews, American Cineplex, Magic Johnson Theatres, and Star Theatres chains.
2006: Initial Public Offering Announced
In 2006, AMC Theatres announced a new initial public offering (IPO) expected to be worth approximately $789 million.
May 3, 2007: IPO Withdrawn
On May 3, 2007, AMC Theatres withdrew from its initial public offering due to adverse market conditions.
December 5, 2008: AMC wins appeal in ADA lawsuit
On December 5, 2008, AMC successfully appealed an order related to ADA lawsuits, with the U.S. Court of Appeals ruling that the order to retrofit screens was excessive and violated AMC's due process rights.
March 2, 2009: Gerardo I. Lopez Appointed as President and CEO
On March 2, 2009, Gerardo I. Lopez succeeded Brown as president and CEO of AMC Theatres.
March 26, 2009: AMC to convert auditoriums to digital 3D
On March 26, 2009, AMC announced an agreement to convert 1,500 existing auditoriums to fully digital 3D screens using RealD technology.
March 30, 2009: AMC to convert screens to 4K digital projectors
On March 30, 2009, AMC announced they would convert all 4,500 screens in their chain to 4K digital projectors provided by Sony.
July 14, 2010: Filing for IPO
On July 14, 2010, AMC Theatres filed for a $450 million IPO.
April 1, 2011: AMC starts AMC Stubs rewards program
On April 1, 2011, AMC started a new rewards program known as AMC Stubs, which could be purchased for a fee of $12 for an entire year.
September 2011: Headquarters Move Announced
In September 2011, AMC Theatres announced plans to move its headquarters to Leawood, Kansas.
March 29, 2012: AMC Stubs membership reaches 3.2 million
As of March 29, 2012, AMC Stubs had 3.2 million members, which represents approximately 18% of AMC attendance during fiscal 2012.
April 2012: Settlement with Illinois
In April 2012, AMC Theatres reached a settlement with the state of Illinois, pledging to equip all of its theaters in the state with captioning and description services by 2014.
May 2012: Acquisition by Wanda Group
In May 2012, AMC Theatres was acquired by Chinese conglomerate Wanda Group for $2.6 billion.
July 2012: Sale of Canadian Locations
In July 2012, AMC Theatres sold four of its Canadian locations to Cineplex Entertainment and two to Empire Theatres.
September 4, 2012: Wanda Group Acquisition Finalized
On September 4, 2012, the acquisition of AMC Theatres by Wanda Group was finalized, making Wanda the world's largest cinema chain.
2012: Wanda Group Acquires Majority Stake
From 2012 to 2018, the Chinese conglomerate Wanda Group owned a majority stake in the company.
2012: Digital Projector Replacement Complete
In 2012, AMC Theatres completed its collaboration with Sony to replace all of its reel projectors with digital cinema projectors.
2014: Captioning and Description Services Implemented
By 2014, AMC pledged to equip all of its theaters in the state with captioning and description services.
August 2015: Gerardo I. Lopez Resigns
In August 2015, Gerardo I. Lopez announced his resignation as CEO of AMC Theatres.
December 2015: Adam Aron Announced as CEO
In December 2015, AMC Theatres announced that Adam Aron would be the company's president and chief executive officer, beginning on January 4, 2016.
December 2015: Starplex Cinemas Sold to AMC
In December 2015, Starplex Cinemas was sold to AMC for approximately $175 million.
January 4, 2016: Adam Aron Becomes CEO
On January 4, 2016, Adam Aron became the company's president and chief executive officer, as well as a member of the company's board of directors.
March 3, 2016: AMC Announces Intent to Acquire Carmike Cinemas
On March 3, 2016, AMC announced its intention to acquire Carmike Cinemas in a deal valued at $1.1 billion.
March 2016: AMC Announces Acquisition of Carmike Cinemas
In March 2016, AMC Theatres announced it would acquire competitor Carmike Cinemas.
July 2016: Carmike Accepts Revised Offer
In July 2016, Carmike's management accepted a revised offer from AMC, pending regulatory and shareholder approval.
July 2016: UCI & Odeon Cinema Group sold to AMC
In July 2016, UCI & Odeon Cinema Group was sold to AMC for approximately $1.21 billion, pending European Commission approval.
December 25, 2016: Acquisition of Carmike Cinemas Completed
On December 25, 2016, the deal was closed, making AMC the largest cinema chain in the United States.
2016: AMC Becomes Largest Movie Theater Chain
In 2016, after acquiring Odeon Cinemas, UCI Cinemas, and Carmike Cinemas, AMC became the largest movie theater chain in the world.
January 2017: Nordic Cinema Group Sold to AMC
In January 2017, Nordic Cinema Group, the leading movie theater operator in the Nordic and Baltic area, was sold to AMC for approximately $929 million.
March 1, 2017: Rebranding of Carmike Cinemas
On March 1, 2017, AMC Theatres CEO Adam Aron stated that the company would rebrand Carmike Cinemas locations under the AMC name, with smaller locations rebranded under the AMC Classic banner.
April 21, 2017: AMC Theatre Universal Cinema Relaunched
The AMC CityWalk Stadium 19 located on Universal Studios Hollywood's CityWalk was relaunched after a renovation as "Universal Cinema, an AMC Theatre", on April 21, 2017.
July 2017: Cost Reduction Announcement
In July 2017, AMC Theatres announced they would cut $30 million in expenses by the end of the year.
2017: AMC settles securities law charges for $18 million
In 2017, AMC Entertainment Holdings, Inc., along with some executives and underwriters, agreed to settle federal securities law charges for $18 million, related to defrauding investors about financial health and stock prices.
July 2018: AMC Stubs is split into three programs
In July 2018, AMC Stubs was split into three programs that are currently still in place: the free AMC Stubs Insider; the yearly fee-based AMC Stubs Premiere; and the monthly fee-based AMC Stubs A-List.
September 2018: Universal Cineplex Becomes a Cinemark
At Universal Orlando Resort, AMC had the Universal Cineplex 20 (also a former Cineplex Odeon), until September 2018 when it became a Cinemark.
September 2018: Silver Lake Partners Invests in AMC
In September 2018, Silver Lake Partners invested $600 million in AMC, though Wanda Group retained majority control.
October 2019: AMC Theatres On Demand Launched
In October 2019, AMC began to offer on-demand rentals and purchases of digital film releases under the banner AMC Theatres On Demand.
2019: Wanda Reduces Ownership Stake
By the end of 2019, Wanda Group had reduced its ownership of AMC common stock to just under 50%.
March 18, 2020: Theater Closures Due to COVID-19
On March 18, 2020, AMC announced the closure of all of its theaters due to the COVID-19 pandemic.
March 25, 2020: Corporate Employees Furloughed
On March 25, 2020, AMC furloughed all of its 600 corporate employees, including CEO Adam Aron, due to the COVID-19 pandemic.
April 28, 2020: AMC to no longer carry Universal Pictures films
On April 28, 2020, AMC announced they would no longer carry films from Universal Pictures after the studio wanted to release films via premium video on demand simultaneously with theatrical releases.
June 3, 2020: AMC expresses doubt about remaining in business
On June 3, 2020, AMC stated that it had "substantial doubt" that it would remain in business.
July 2020: AMC reverses mask policy during COVID-19 pandemic
In July 2020, AMC initially announced masks would be recommended but not mandatory during the reopening of theaters, but reversed the policy to require masks after public outcry during the COVID-19 pandemic.
July 28, 2020: AMC and Universal resolve dispute
On July 28, 2020, AMC and Universal resolved their dispute, with AMC agreeing to a shorter theatrical window of 17 days before Universal could release their films via premium VOD, as well as revenue sharing on the premium VOD window.
August 20, 2020: AMC begins reopening locations with a special promotion
On August 20, 2020, AMC began reopening selected locations in the United States and offered a special 15-cent ticket promotion, promoted as "Movies in 2020 at 1920 Prices."
October 2020: AMC reports cash resources may be depleted
In October 2020, AMC reported that its existing cash resources "would be largely depleted by the end of 2020 or early 2021."
January 2021: Wanda's Ownership Diluted
In January 2021, Wanda Group's ownership in AMC was increasingly diluted due to new financing and debt conversion.
January 26, 2021: AMC raises $917 million in new funding
On January 26, 2021, AMC stated that it had raised $917 million in new funding, including $506 million in equity and new common shares, and commitments for $411 million in debt financing.
February 5, 2021: Wanda Group reduces stake in AMC
On February 5, 2021, Wanda Group issued a filing stating it had converted its Class B common stock to Class A shares to permit their sale, effectively surrendering its majority control of AMC.
February 2021: Wanda's Voting Power Reduced
In early February 2021, Wanda converted its Class B shares to Class A shares, reducing its voting power to less than 50%.
March 2021: AMC reports revenue fall and Wanda stake decrease
In March 2021, AMC reported an 88% year-over-year revenue fall and CEO Adam Aron confirmed that Wanda no longer had majority control.
May 21, 2021: Wanda Reduces Stake in AMC
On May 21, 2021, Wanda filed a 0.002% stake with the SEC, signaling the end of their involvement in AMC.
June 2021: AMC stock surges amid short squeeze
In June 2021, AMC stock surged to an all-time high of $77.26 due to a short squeeze. AMC warned investors about the risk of losing their investment.
July 2021: AMC Theatres to acquire leases to Pacific Theatres locations
In July 2021, AMC Theatres announced they would acquire the leases to the Americana at Brand and The Grove at Farmers Market locations, formerly owned by Pacific Theatres.
July 2021: AMC partners with Chance the Rapper for film distribution
In July 2021, AMC Theatres collaborated with Chance the Rapper and his company House of Kicks, distributing his concert film Magnificent Coloring World internationally, marking the first time a recording artist distributed a film through AMC.
August 2021: AMC to accept cryptocurrencies
In August 2021, AMC revealed plans to begin accepting cryptocurrencies such as Bitcoin for purchases in the future.
November 2021: AMC accepts Bitcoin for online purchases
In November 2021, AMC began accepting Bitcoin for online purchases via PayPal.
December 2021: AMC acquires more former Pacific Theaters locations
In December 2021, AMC Theatres announced that they had acquired the leases to the former Pacific Theaters location at Northridge Fashion Center and the Arclight Chicago 14.
January 2022: AMC Theatres starts selling popcorn via food delivery
In January 2022, AMC Theatres began selling popcorn via food delivery and in supermarkets, aiming to offset financial challenges caused by the COVID-19 pandemic.
February 2022: AMC Theaters reaches deals to acquire more Arclight leases
In February 2022, AMC Theaters reached a deal to acquire the leases to the Arclight Montgomery 16 and the Westfield UTC mall's Arclight UTC 14.
March 2022: AMC Theatres acquires stake in Hycroft Mining
In March 2022, AMC Theatres acquired a 22% share in Hycroft Mining, a gold and silver mining company based in Nevada.
April 2022: AMC Theaters acquires Bow Tie Cinemas locations
In April 2022, AMC Theaters acquired seven Bow Tie Cinemas locations in Connecticut, New York, and Maryland.
April 2022: AMC announces agreement with Cinionic for laser projectors
In April 2022, AMC announced an agreement with Cinionic to install laser projectors at 3,500 of its screens in the United States through the end of 2026.
August 4, 2022: AMC announces "AMC Preferred Equity Units"
On August 4, 2022, AMC announced its "AMC Preferred Equity Units", a new preferred share class listed on the New York Stock Exchange under the symbol "APE."
December 2022: AMC Theatres acquires the former Arclight Cinemas at The Hub on Causeway
In December 2022, AMC Theatres reached a deal on the acquisition of the former Arclight Cinemas located at The Hub on Causeway in Boston.
February 2023: AMC announces Dynamic Pricing Plans
In February 2023, AMC announced plans to test a dynamic pricing model for tickets for showings that occur after 4pm based on seat location.
July 2023: AMC Abandons Dynamic Pricing
In July 2023, AMC chose to abandon dynamic pricing after testing showed that customers were still not likely to choose front-row seats despite their lower prices.
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