History of AMC Theatres in Timeline
AMC Entertainment Holdings, Inc., established in 1920, is the world's largest movie theater chain. Headquartered in Leawood, Kansas, it operates approximately 860 theaters and 9,600 screens globally. AMC expanded significantly throughout the 20th century, dominating the multiplex landscape. Through key acquisitions, including Odeon Cinemas, UCI Cinemas, and Carmike Cinemas in 2016, AMC solidified its position as a global leader with a substantial presence in both Europe (2,807 screens in 353 theaters) and the United States (7,755 screens in 593 theaters).
December 20, 1920: AMC Theatres Founded
On December 20, 1920, AMC Theatres was founded in Kansas City, Missouri. Originally known as American Multi-Cinema, the company quickly expanded across Missouri and into Kansas.
1920: AMC Theatres Founded
In 1920, AMC Theatres was founded by the Dubinsky brothers: Maurice, William, Irvin, Edward, and Barney, in Kansas City, Missouri. They purchased the Regent Theatre on 12th Street.
1929: Death of Maurice Dubinsky
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 after World War II. He encouraged his father to build drive-in theaters.
1947: Acquisition of the Liberty Theater
In 1947, AMC expanded by acquiring the Liberty Theater in downtown Kansas City, which was remodeled and renamed the Roxy.
1961: Stanley Durwood Takes Control
In 1961, Stanley Durwood took control of Durwood Theatres after the death of his father, Ed Durwood.
1962: Stanley Durwood conceived the multiplex concept
In 1962, Stanley Durwood conceived the multiplex concept of adding a second screen at the Roxy in Kansas City.
1963: Opening of the Parkway Twin Theatre
In 1963, AMC opened the Parkway Twin Theatre, its first foray into the multiplex model, located on Kansas City's Ward Parkway.
1966: Opening of the Metro Plaza
In 1966, AMC opened the Metro Plaza, a four-screen theater in Kansas City, following the success of the Parkway Twin.
October 1, 1968: Renaming to American Royal Cinema and then American Multi-Cinema
On October 1, 1968, Durwood Theatres was renamed American Royal Cinema, but after an injunction, the name was changed to American Multi-Cinema, Inc.
1969: Opening of Six-Screen Theater in Omaha
In 1969, AMC opened a six-screen theater in Omaha, further expanding its multiplex model.
1983: Initial Public Offering
In 1983, AMC Theatres had its initial public offering (IPO).
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 Announcement
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 with 25 screens and 7,600 seats, was opened by Kinepolis, the European chain.
July 1994: AMC Signs Agreement 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: Opening of Canal City 13 in Fukuoka, Japan
In April 1996, AMC Theatres opened Canal City 13 in Fukuoka, Japan, as part of its megaplex theater expansion.
December 13, 1996: Opening of Ontario Mills 30
On December 13, 1996, AMC opened the Ontario Mills 30 in Ontario, California, which was the largest multiplex in the world at the time.
December 20, 1996: Opening of AMC Arrábida 20 in Porto, Portugal
On December 20, 1996, AMC opened the AMC Arrábida 20 in Porto, Portugal, continuing its international expansion of megaplex theaters.
1999: Death of Stanley Durwood
In 1999, Stanley Durwood, who led the company through significant expansion and innovation, passed away.
January 9, 2001: Planet Movies by AMC Joint Venture Dissolved
The Planet Movies by AMC joint venture was formally dissolved on January 9, 2001.
January 2002: Return to the UK Market
In January 2002, the 16-screen Great Northern theatre opened in Manchester, UK, marking AMC's return to the UK market after 14 years.
March 2002: Purchase of General Cinema Corporation and Gulf States Theaters
In March 2002, AMC purchased General Cinema Corporation, adding 66 theaters with 621 screens, and Gulf States Theaters, adding five theaters with 68 screens in the New Orleans area.
October 2003: Opening of Birmingham Cinema
In October 2003, AMC Theatres opened a 12-screen cinema on the Broadway Plaza site in Birmingham, UK, adding to its presence in the UK market.
2004: Acquisition 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. The deal included Loews, American Cineplex chains, Magic Johnson Theatres, and Star Theatres.
2006: Announcement of New IPO
In 2006, AMC Theatres announced a new initial public offering (IPO) expected to be worth approximately $789 million.
May 3, 2007: Withdrawal from IPO
On May 3, 2007, AMC Theatres withdrew from its announced IPO due to adverse market conditions.
December 5, 2008: Appeal Win in Disabilities Act Lawsuit
On December 5, 2008, AMC successfully appealed an order to retrofit screens for wheelchair accessibility. The U.S. Court of Appeals ruled the order excessive, citing that the Access Board hadn't specified wheelchair sightline requirements when stadium-style theaters were built.
March 2, 2009: Gerardo I. Lopez Appointed CEO
On March 2, 2009, Gerardo I. Lopez succeeded Peter Brown as president and CEO of AMC Theatres. Previously, Lopez was the Executive Vice President of President Consumer Products Group, Seattle's Best Coffee, and Foodservice at Starbucks.
March 26, 2009: AMC to Convert Auditoriums to Digital 3D Using RealD
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 All 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 $450 Million IPO
On July 14, 2010, AMC Theatres filed for a $450 million IPO, marking its third such filing since 2006.
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, giving members rewards on spending and free upgrades.
September 2011: Headquarters Relocation Announcement
In September 2011, AMC Theatres announced plans to move its headquarters to a new $30 million building in Leawood, Kansas. Kansas offered $47 million in incentives for the move.
March 29, 2012: AMC Stubs Membership Reaches 3.2 Million
As of March 29, 2012, AMC Stubs had 3.2 million members, representing approximately 18% of AMC attendance during fiscal 2012.
April 2012: Settlement with Disability Rights Organization
In April 2012, AMC Theatres reached a settlement with the state of Illinois following complaints from a disability rights organization. AMC pledged 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 the Chinese conglomerate Wanda Group for $2.6 billion. Wanda planned to spend $500 million renovating AMC locations.
July 2012: Sale of Canadian Locations
In July 2012, AMC Theatres sold four of its Canadian locations to Cineplex Entertainment, and two more to Empire Theatres. The remaining two Canadian locations have since closed.
September 4, 2012: Acquisition Deal Finalized
On September 4, 2012, the acquisition deal of AMC Theatres by Wanda Group was finalized, making Wanda the world's largest cinema chain.
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 replacement of all reel projectors with digital cinema projectors, in collaboration with Sony, which started in 2009.
August 2015: Gerardo I. Lopez Resigns
In August 2015, Gerardo I. Lopez announced his resignation as CEO of AMC Theatres. Craig Ramsey was appointed as the interim CEO.
December 2015: Adam Aron Appointed CEO
In December 2015, AMC Theatres announced that Adam Aron would become the company's president and chief executive officer, effective January 4, 2016.
December 2015: Sale of Starplex Cinemas 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 officially began his role as president and chief executive officer of AMC Theatres.
March 3, 2016: Intent to Acquire Carmike Cinemas
On March 3, 2016, AMC announced its intent to acquire Carmike Cinemas in a $1.1 billion deal, pending regulatory and shareholder approval.
March 2016: Announcement of Carmike Cinemas Acquisition
In March 2016, AMC Theatres announced its intention to acquire competitor Carmike Cinemas.
July 2016: Carmike Management Accepts Revised Offer
In July 2016, Carmike Cinemas' management accepted a revised acquisition offer from AMC Theatres, pending regulatory and shareholder approval.
July 2016: Sale of UCI & Odeon Cinema Group to AMC
In July 2016, UCI & Odeon Cinema Group was sold to AMC for approximately $1.21 billion, subject to European Commission approval.
December 25, 2016: Acquisition of Carmike Cinemas Completed
On December 25, 2016, the deal to acquire Carmike Cinemas was closed, making AMC the largest cinema chain in the United States.
2016: AMC Becomes Largest Movie Theater Chain
In 2016, AMC Theatres acquired Odeon Cinemas, UCI Cinemas, and Carmike Cinemas, solidifying its position as the largest movie theater chain in the world. By 2016, it had 2,807 screens in 353 European theaters and 7,755 screens in 593 American theaters.
January 2017: Sale of Nordic Cinema Group 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 Locations
On March 1, 2017, AMC Theatres CEO Adam Aron announced that Carmike Cinemas locations would be rebranded under the AMC name, with smaller locations becoming AMC Classic and kitchen-equipped theaters becoming AMC Dine-In.
April 21, 2017: Universal Cinema, an AMC Theatre Relaunched
On April 21, 2017, the AMC CityWalk Stadium 19 located on Universal Studios Hollywood's CityWalk was relaunched after a renovation as "Universal Cinema, an AMC Theatre".
July 2017: Expense Reduction Announcement
In July 2017, AMC Theatres announced plans to cut $30 million in expenses by the end of the year through measures such as reducing operating hours and cutting staffing levels.
2017: Settlement of Securities Law Charges
In 2017, AMC Entertainment Holdings, Inc., and some of its executives and underwriters, agreed to settle federal securities law charges for $18 million regarding defrauding investors about the financial health of acquired theater operators and artificially inflating stock prices.
September 2018: Universal Cineplex 20 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. Despite the investment in September 2018, Wanda Group retained majority control of AMC's board of directors.
October 2019: Launch of AMC Theatres On Demand
In October 2019, AMC began offering on-demand rentals and purchases of digital film releases under the banner AMC Theatres On Demand, tied to the Stubs loyalty program.
2019: Wanda Group Reduces Ownership
By the end of 2019, Wanda Group had reduced its ownership of AMC common stock to just under 50%, though it retained majority control over AMC's board of directors.
March 18, 2020: AMC Theatres Closure Due to COVID-19 Pandemic
On March 18, 2020, AMC announced the closure of all of its theaters due to the COVID-19 pandemic, complying with CDC guidance against gatherings of over ten people, and the shutdown was expected to last at least six to twelve weeks.
March 25, 2020: AMC Furloughs Corporate Employees
On March 25, 2020, AMC furloughed all 600 of its corporate employees, including CEO Adam Aron, while retaining their active employment status and health benefits.
April 28, 2020: AMC Announces Discontinuation of Universal Pictures Films
On April 28, 2020, AMC announced they would no longer carry films from Universal Pictures after NBCUniversal CEO Jeff Shell's comments about releasing films via premium video on demand simultaneously with theatrical releases, threatening similar action against any studio abandoning current windowing practices without good faith negotiations.
June 3, 2020: AMC States Doubt About Remaining in Business
On June 3, 2020, AMC stated that it had "substantial doubt" that it would remain in business.
July 2020: Mask Policy Controversy During COVID-19 Pandemic
In July 2020, AMC initially announced that masks would be recommended but not mandatory upon reopening theaters during the COVID-19 pandemic, which caused public outcry and led to a change in policy, requiring masks.
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 and revenue sharing on the premium VOD window.
August 20, 2020: AMC Reopens Selected Locations with 15-Cent Ticket Promotion
On August 20, 2020, AMC began reopening selected locations in the United States and offered a special 15-cent ticket promotion, "Movies in 2020 at 1920 Prices," aiming for at least two-thirds of its locations to be open in time for the September 3 release of Tenet.
October 2020: AMC Reports Cash Resources Depletion
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 Group Ownership Diluted
In January 2021, Wanda Group's ownership in AMC was increasingly diluted due to new financing by AMC and short squeezes. This resulted in Silver Lake converting its $600 million debt holding to equity in January 2021.
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, to help the company through the coronavirus-impacted winter.
February 5, 2021: Wanda Group Surrenders Majority Control of AMC
On February 5, 2021, a U.S.-based subsidiary of Wanda Group filed with the SEC that it had converted its Class B common stock to Class A shares to permit their sale, effectively surrendering its majority control since Class A stock only provides one vote per-share.
February 2021: Wanda Group Reduces Voting Power
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's Decreased Stake
During its fourth-quarter earnings call in March 2021, AMC reported that its revenue had fallen by 88% year-over-year, and CEO Adam Aron confirmed that Wanda no longer had majority control.
May 21, 2021: Wanda Group Ends Involvement with AMC
On May 21, 2021, Wanda filed a 0.002% stake with the SEC, largely confirming the end of their involvement in AMC.
June 2021: AMC Stock Surge and Short Squeeze
In June 2021, AMC shares soared to an all-time high of $77.26 due to another alleged short squeeze, with short sellers incurring losses of over $2.8B and AMC warning potential investors about the risk of losing their investment.
July 2021: Acquisition of Pacific Theatres Leases
In July 2021, AMC Theatres announced it would acquire leases for the Americana at Brand in Glendale and The Grove at Farmers Market in Los Angeles, previously owned by Pacific Theatres.
July 2021: Collaboration with Chance the Rapper
In July 2021, AMC Theatres partnered with Chance the Rapper and his company House of Kicks to distribute his concert film Magnificent Coloring World in cinemas internationally. This marked the first time an individual recording artist distributed a film through AMC.
August 2021: AMC Announces Cryptocurrency Acceptance
In August 2021, AMC revealed plans to begin accepting cryptocurrencies such as Bitcoin for purchases in the future.
November 2021: AMC Accepts Cryptocurrency via PayPal
In November 2021, AMC began accepting cryptocurrency for online purchases via PayPal.
December 2021: Acquisition of Former Pacific Theaters and Arclight Chicago 14 Leases
In December 2021, AMC Theaters announced they acquired the leases to the former Pacific Theaters location at Northridge Fashion Center in Northridge, Los Angeles and the Arclight Chicago 14 in Lincoln Park, Chicago.
January 2022: Popcorn Sales via Food Delivery
In January 2022, AMC Theatres began selling popcorn through food delivery services and in supermarkets as a response to the downturn caused by the COVID-19 pandemic.
February 2022: Acquisition of Arclight Montgomery 16 and Arclight UTC 14 Leases
In February 2022, AMC Theaters reached a deal to acquire the leases to the Arclight Montgomery 16 at Westfield Montgomery in Washington D.C. and the Westfield UTC mall's Arclight UTC 14 in La Jolla. Also they reached an agreement to acquire the lease to the Century 12 Evanston, previously owned by Cinemark Theatres, in Evanston, Illinois.
March 2022: Acquisition of Hycroft Mining Share
In March 2022, AMC Theatres acquired a 22% share in Hycroft Mining, a gold and silver mining company in Nevada that was experiencing a liquidity crisis.
April 2022: Acquisition of Bow Tie Cinemas Locations
In April 2022, AMC Theaters acquired seven Bow Tie Cinemas locations in Connecticut, New York, and Maryland.
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," issued to shareholders as a 1:1 special dividend.
December 2022: Acquisition of Former Arclight Cinemas Lease in Boston
In December 2022, AMC 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 Model Test
In February 2023, AMC announced plans to test a dynamic pricing model for tickets for showings that occur after 4pm based on seat location and membership status.
July 2023: AMC Abandons Dynamic Pricing Model
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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