History of AMC Theatres in Timeline
AMC Theatres is the world's largest movie theater chain, founded in 1920 and headquartered in Leawood, Kansas. It holds the largest share of the U.S. theater market, surpassing Regal and Cinemark. Through acquisitions like Odeon, UCI, and Carmike in 2016, AMC expanded globally, boasting a significant presence in both the United States and Europe, with thousands of screens across hundreds of theaters.
16 hours ago : AMC Theatres to Distribute 'Watch the Skies,' a Film Dubbed Entirely with AI.
'Watch the Skies,' the first feature film dubbed entirely using AI, has secured a distribution deal with AMC Theatres, marking a milestone for AI in film.
1920: AMC Theatres Founded
In 1920, AMC Theatres was founded by the Dubinsky brothers, who purchased the Regent Theatre in Kansas City, Missouri.
1929: Maurice Dubinsky Died
In 1929, Maurice, the oldest of the Dubinsky brothers and one of the founders of AMC Theatres, 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, Edward's son, joined the company after leaving the U.S. Air Force.
1947: Acquisition of the Liberty Theater
In 1947, AMC expanded further with the acquisition of the Liberty Theater in downtown Kansas City which they remodeled and renamed the Roxy.
1961: Stanley Durwood Takes Control
In 1961, after Ed Durwood passed away, Stanley took control of Durwood Theatres.
1962: Durwood's Realization
In 1962, Stanley Durwood realized he could double the 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 opened in Kansas City, marking the company's first foray into the multiplex model.
1966: Metro Plaza Opens
In 1966, AMC opened the Metro Plaza, a four-screen theater in Kansas City.
October 1, 1968: Company Renamed American Royal Cinema
On October 1, 1968, Durwood Theatres was renamed American Royal Cinema, but the name was soon changed to American Multi-Cinema, Inc.
1969: Six-Screen Theater 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
In 1985, AMC Theatres built its first multiplex overseas, a 10-screen multiplex at The Point in Milton Keynes, 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.
December 1988: AMC Withdraws from Joint Venture and UK Market
In December 1988, AMC pulled out of the joint venture and sold their U.K. assets for $98 million, withdrawing from the UK market.
1988: First Megaplex in the World Opened
In 1988, Kinepolis Brussels, the first megaplex in the world, was opened by Kinepolis.
July 1994: SDDS Installation Agreement
In July 1994, AMC signed an agreement with Sony to begin installing SDDS (Sony Dynamic Digital Sound) in auditoriums.
1995: AMC Builds Early Stadium-Style Seating
In 1995, AMC built early versions of stadium-style seating, which led to ADA lawsuits due to uncomfortable viewing angles for wheelchair users, eventually leading to modifications to improve accessibility.
April 1996: Canal City 13 Opens
In April 1996, AMC Theatres 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
On December 20, 1996, AMC Theatres opened the AMC Arrábida 20 in Porto, Portugal.
1999: Stanley Durwood Died
In 1999, Stanley Durwood died, and his successor was Peter Brown.
January 2002: AMC Returns to the UK Market
In January 2002, AMC Theatres returned to the UK market with the opening of the 16-screen Great Northern theatre in Manchester.
March 2002: Acquisition of General Cinema Corporation
In March 2002, AMC bought General Cinema Corporation, adding 66 theaters with 621 screens to the company assets.
October 2003: AMC Opens Cinema in Birmingham
In October 2003, AMC Theatres opened a 12-screen cinema on the Broadway Plaza site in Birmingham.
2004: Acquired by Marquee Holdings Inc.
In 2004, AMC Theatres was acquired by Marquee Holdings Inc., an investment vehicle controlled by affiliates of J.P. Morgan Partners, LLC, and Apollo Global Management.
January 26, 2006: Merger with Loews Cineplex Entertainment
On January 26, 2006, AMC merged with Loews Cineplex Entertainment to form AMC Entertainment, bringing in Loews, American Cineplex chains, Magic Johnson Theatres, and Star Theatres.
2006: Announced New Initial Public Offering
In 2006, the company announced a new initial public offering (IPO) expected to be worth approximately $789 million.
May 3, 2007: IPO Withdrawn
On May 3, 2007, adverse market conditions convinced the company's management to withdraw from the initial public offering.
December 5, 2008: AMC Wins ADA Lawsuit Appeal
On December 5, 2008, the U.S. Court of Appeals for the Ninth Circuit ruled that the order to retrofit AMC theaters for ADA compliance was excessive and violated AMC's due process rights, due to the lack of specific guidelines at the time of construction.
March 2, 2009: Gerardo I. Lopez Appointed CEO
On March 2, 2009, Gerardo I. Lopez succeeded Brown as president and CEO of AMC Theatres.
March 26, 2009: Agreement to Convert Auditoriums to 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: 4K Digital Projector Conversion
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: Filed for $450 Million IPO
On July 14, 2010, the company filed for a $450 million IPO, its third such filing since 2006.
April 1, 2011: AMC Stubs Rewards Program Launch
On April 1, 2011, AMC launched the AMC Stubs rewards program, offering members benefits such as $5 rewards for every $50 spent and free size upgrades on concessions for an annual fee.
September 2011: Headquarters Move Announced
In September 2011, AMC Theatres announced plans to move its headquarters to Leawood, Kansas.
March 29, 2012: 3.2 Million AMC Stubs Members
As of March 29, 2012, AMC Stubs had 3.2 million members, representing approximately 18% of AMC attendance during fiscal 2012.
April 2012: Settlement Reached on Accessibility
In April 2012, AMC Theatres reached a settlement with the state of Illinois regarding complaints from a disability rights organization.
May 2012: Acquired by Wanda Group
In May 2012, AMC Theatres was acquired by the 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 more locations to Empire Theatres.
September 4, 2012: Acquisition by Wanda Group Finalized
On September 4, 2012, the acquisition of AMC Theatres by Wanda Group was finalized.
2012: Wanda Group Acquired Majority Stake
From 2012 to 2018, the Chinese conglomerate Wanda Group owned a majority stake in AMC Theatres.
2012: Completion of Digital Projector Installation
In 2012, AMC Theatres completed the installation of digital cinema projectors in 1,500 screens.
2014: Implementation of Captioning and Description Services
By 2014, AMC Theatres pledged to equip all of its theaters in the state of Illinois with captioning and description services.
August 2015: Gerardo I. Lopez Resigned as CEO
In August 2015, Gerardo I. Lopez announced his resignation as CEO of AMC Theatres.
December 2015: Adam Aron Announced as New CEO
In December 2015, AMC announced that Adam Aron would be the company's president and chief executive officer.
December 2015: Starplex Cinemas Sold to AMC
In December 2015, Starplex Cinemas was sold to AMC for approximately $175 million, marking an expansion of AMC's holdings.
January 4, 2016: Adam Aron Assumed CEO Role
On January 4, 2016, Adam Aron began his role as president and chief executive officer of AMC Theatres.
March 3, 2016: AMC Announces Intent to Acquire Carmike Cinemas
On March 3, 2016, AMC announced its intent to acquire Carmike Cinemas for $1.1 billion, a deal that aimed to make AMC the largest movie theater chain in the United States.
March 2016: Announced 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: AMC to Acquire UCI & Odeon Cinema Group
In July 2016, UCI & Odeon Cinema Group was sold to AMC for approximately $1.21 billion, pending European Commission approval, expanding AMC's presence in Europe.
November 2016: AMC Completes Acquisition of UCI & Odeon Cinema Group
In November 2016, the acquisition of UCI & Odeon Cinema Group by AMC was completed after receiving approval from the European Commission, further solidifying AMC's international expansion.
December 2016: AMC Completes Acquisition of Carmike Cinemas
In December 2016, the merger between AMC and Carmike Cinemas officially closed, solidifying AMC's position as the largest movie theater chain in the United States.
December 25, 2016: Carmike Cinemas Acquisition Closed
On December 25, 2016, the deal to acquire Carmike Cinemas was closed, making AMC the largest cinema chain in the United States.
2016: Became the Largest Movie Theater Chain in the World
In 2016, after acquiring Odeon Cinemas, UCI Cinemas, and Carmike Cinemas, AMC became the largest movie theater chain in the world.
January 2017: AMC to Acquire Nordic Cinema Group
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, expanding AMC's reach into Northern Europe.
March 1, 2017: Carmike Cinemas Rebranded
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 as AMC Classic.
March 2017: AMC Completes Acquisition of Nordic Cinema Group
In March 2017, AMC completed the acquisition of Nordic Cinema Group after receiving clearance from the European Commission, marking a significant expansion into the Nordic and Baltic regions.
April 21, 2017: Universal Cinema Relaunch
On April 21, 2017, the AMC CityWalk Stadium 19 was relaunched as "Universal Cinema, an AMC Theatre" after a renovation.
July 2017: Expense Reduction Announced
In July 2017, AMC Theatres announced they would cut $30 million in expenses by the end of the year.
July 2017: Starplex Theaters Rebranded as AMC Classic
In July 2017, most of the theaters acquired from Starplex Cinemas began operating as AMC Classic locations, signifying a rebranding effort.
2017: AMC Settles Securities Law Charges
In 2017, AMC Entertainment Holdings, Inc. agreed to settle federal securities law charges for $18 million, after being accused of defrauding investors about the financial health of acquired theater operators and artificially inflating stock prices.
July 2018: AMC Stubs Program Split
In July 2018, AMC Stubs was split into three programs: the free AMC Stubs Insider; the yearly fee-based AMC Stubs Premiere; and the monthly fee-based AMC Stubs A-List.
September 2018: Silver Lake Partners Invests in AMC
In September 2018, Private equity firm Silver Lake Partners made a $600 million investment in AMC.
September 2018: Universal Cineplex 20 becomes Cinemark
In September 2018, the AMC-owned Universal Cineplex 20 at Universal Orlando Resort became a Cinemark.
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 Group Reduced Ownership
By the end of 2019, Wanda Group reduced its ownership of AMC common stock to just under 50%, while still retaining majority control.
March 18, 2020: Theaters Closed 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 Stopped Carrying Universal Pictures Films
On April 28, 2020, AMC announced they would no longer carry films from Universal Pictures after NBCUniversal CEO Jeff Shell commented the studio wanted to release films via premium video-on-demand simultaneously with theatrical releases.
June 3, 2020: AMC Expressed 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's Initial Mask Policy During COVID-19 Pandemic
In July 2020, AMC announced the reopening of theaters during the COVID-19 pandemic with an initial policy recommending but not requiring masks, which led to public backlash and a subsequent change to mandate mask-wearing.
July 28, 2020: Dispute with Universal Resolved
On July 28, 2020, AMC and Universal were able to resolve their dispute, with AMC agreeing to a shorter theatrical window of 17 days.
August 20, 2020: Reopening and 15-Cent Ticket Promotion
On August 20, 2020, AMC started reopening selected locations in the United States and offered 15-cent tickets as part of their centennial celebration. This "Movies in 2020 at 1920 Prices" promotion was intended to attract moviegoers as theaters began to reopen amidst the pandemic.
October 2020: Cash Resource Depletion Warning
In October 2020, AMC reported that its existing cash resources "would be largely depleted by the end of 2020 or early 2021" due to the impact of the pandemic.
January 2021: Wanda Group's Ownership Diluted
In January 2021, Wanda's ownership was increasingly diluted due to new financing by AMC, as well as short squeezes that resulted in Silver Lake converting its $600 million debt holding to equity.
January 26, 2021: $917 Million in New Funding
On January 26, 2021, AMC announced it had raised $917 million in new funding, including $506 million in equity and $411 million in debt financing, which the company believed would help it survive the coronavirus pandemic.
February 5, 2021: Wanda Group Surrenders Majority Control
On February 5, 2021, Wanda Group's U.S. subsidiary filed with the SEC that it had converted its Class B common stock to Class A shares to permit their sale, effectively surrendering 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, thus reducing its voting power to less than 50%.
March 2021: Revenue Drop and Market Challenges
In March 2021, during its fourth-quarter earnings call, AMC reported an 88% year-over-year revenue decline and CEO Adam Aron acknowledged "the most challenging market conditions in the 100-year history of the company."
May 21, 2021: Wanda Group Ends Involvement in AMC
On May 21, 2021, Wanda Group filed a 0.002% stake with the SEC, largely confirming the end of their involvement in AMC.
June 2021: Stock Surge and Share Issuance
In June 2021, AMC's share price surged to an all-time high of $77.26 due to retail investor activity, leading to losses for short sellers. AMC issued more shares and warned investors about the risks of investing at such high prices.
July 2021: AMC to Acquire Leases from Pacific Theatres
In July 2021, AMC Theatres announced it would acquire the leases to the Americana at Brand and The Grove at Farmers Market locations, formerly owned by Pacific Theatres, with plans to reopen them in August as part of the AMC chain.
July 2021: Partnership with Chance the Rapper
In July 2021, AMC Theatres partnered with Chance the Rapper to distribute his concert film Magnificent Coloring World internationally, marking the first time an individual recording artist distributed a film through AMC.
August 2021: Cryptocurrency Acceptance Plans
In August 2021, AMC revealed its plan to begin accepting cryptocurrencies like Bitcoin for purchases.
November 2021: Cryptocurrency Payments via PayPal
In November 2021, AMC started accepting cryptocurrencies for online purchases via PayPal.
December 2021: AMC Acquires Leases to Additional Former Pacific Theaters Locations
In December 2021, AMC Theaters announced they had acquired the leases to the former Pacific Theaters location at Northridge Fashion Center and the Arclight Chicago 14, both of which would open in 2022, expanding AMC's footprint.
January 2022: Popcorn Sales via Food Delivery
In January 2022, AMC Theatres started selling popcorn via food delivery to compensate for the COVID-19 pandemic-induced downturn.
February 2022: AMC Acquires Arclight Leases in Washington D.C. and La Jolla
In February 2022, AMC Theaters reached a deal to acquire the leases to the Arclight Montgomery 16 in Washington D.C. and the Arclight UTC 14 in La Jolla, with the former reopening that month and the latter in March, increasing AMC's presence.
March 2022: Share Acquisition in Hycroft Mining
In March 2022, AMC Theatres acquired a 22% share in Hycroft Mining, a gold and silver mining company in Nevada.
April 2022: AMC Acquires Bow Tie Cinemas Locations
In April 2022, AMC Theaters acquired seven Bow Tie Cinemas locations in Connecticut, New York, and Maryland, increasing AMC's presence in the Northeast and Mid-Atlantic regions.
August 4, 2022: Announcement of AMC Preferred Equity Units
On August 4, 2022, AMC announced its "AMC Preferred Equity Units" (APE), a new preferred share class to be listed on the New York Stock Exchange.
December 2022: AMC to Acquire Former Arclight Cinema in Boston
In December 2022, the company reached a deal on the acquisition of the former Arclight Cinemas located at The Hub on Causeway in Boston, adding another location to the AMC chain.
February 2023: Dynamic Pricing Model Test
In February 2023, AMC announced plans to test a dynamic pricing model for showings after 4pm based on seat location.
July 2023: Dynamic Pricing Abandonment
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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