History of AMC Theatres in Timeline
AMC Entertainment Holdings, Inc., founded in 1920 and headquartered in Leawood, Kansas, is the world's largest movie theater chain. Dominating the U.S. market and expanding globally through acquisitions like Odeon, UCI, and Carmike Cinemas in 2016, AMC boasts a significant presence with thousands of screens across the US and Europe. AMC Theatres holds the largest share of the U.S. theater market, outstripping competitors such as Regal Cinemas and Cinemark Theatres.
1920: AMC Theatres Founded by Dubinsky Brothers
In 1920, AMC Theatres was founded by Maurice, William, Irvin, Edward, and Barney Dubinsky, who purchased the Regent Theatre in Kansas City, Missouri.
1920: AMC Theatres Founded
In 1920, AMC Theatres, originally known as American Multi-Cinema, was founded in Kansas City, Missouri.
1929: Maurice Dubinsky Died
In 1929, Maurice, the oldest Dubinsky brother and one of the founders of AMC Theatres, died.
1936: Barney Dubinsky Left the Company
In 1936, Barney Dubinsky left AMC Theatres after being injured in an auto accident.
1945: Stanley Durwood Joined the Company
In 1945, Stanley Durwood, Edward's son, joined Durwood Theatres after leaving the U.S. Air Force.
1947: Acquisition of the Liberty Theater
In 1947, Durwood Theatres expanded further with the acquisition of the Liberty Theater in downtown Kansas City which they remodeled and renamed the Roxy.
1961: Stanley Durwood Took Control of Durwood Theatres
In 1961, after Ed Durwood's death, Stanley took control of Durwood Theatres, a small ten-theatre chain.
1962: Stanley Durwood's Multiplex Idea
In 1962, Stanley Durwood conceptualized doubling box office revenue by adding a second screen to the Roxy in Kansas City with the same staff size.
1963: Parkway Twin Theatre Opens
In 1963, Durwood Theatres opened the Parkway Twin Theatre in Kansas City, marking the company's first foray into using the multiplex model.
1966: Embassy 3 Triplex and Metro Plaza Open
In 1966, following the Parkway Twin's success, AMC opened the Embassy 3 triplex at the Country Club Plaza and 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 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: AMC Theatres 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.
December 1988: AMC Pulled Out of Joint Venture
In December 1988, AMC pulled out of the joint venture in the UK and sold their U.K. assets to United Cinemas International for $98 million.
1988: Kinepolis Brussels Opens
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 partners with Sony to install SDDS
In July 1994, AMC signed an agreement with Sony to begin installing SDDS (Sony Dynamic Digital Sound) in auditoriums.
1995: AMC implements stadium-style seating
In 1995, AMC built early versions of stadium-style seating, which had auditoriums configured with a flat area immediately in front of the screen for wheelchair users, resulting in ADA lawsuits.
April 1996: Canal City 13 Opens in Fukuoka, Japan
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 in Ontario, California, which was the largest multiplex in the world at the time.
December 20, 1996: AMC Arrábida 20 Opens in Porto, Portugal
On December 20, 1996, AMC Theatres 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.
October 1999: Planet Hollywood reorganizes, emphasizes 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 Died
In 1999, Stanley Durwood died, and Peter Brown became his successor as the head of AMC Theatres.
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: AMC Returns to UK Market
In January 2002, the 16-screen Great Northern theatre was opened in Manchester in the U.K., marking AMC's return to the UK market after 14 years.
March 2002: AMC buys General Cinema Corporation
In March 2002, AMC bought General Cinema Corporation, adding 66 theaters with 621 screens, and Gulf States Theaters, adding five theaters with 68 screens.
October 2003: 12-Screen Cinema Opens in Birmingham
In October 2003, AMC opened a 12-screen cinema on the Broadway Plaza site in Birmingham.
2004: AMC Theatres Acquired 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 chains, Magic Johnson Theatres, and Star Theatres.
2006: AMC Announces 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 initial public offering (IPO) due to adverse market conditions.
December 5, 2008: AMC wins appeal in ADA lawsuit
On December 5, 2008, AMC successfully appealed an order requiring them to retrofit screens for ADA compliance, with the U.S. Court of Appeals ruling the order excessive.
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.
March 26, 2009: AMC announces digital 3D conversion
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 converts 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, its third such filing since 2006.
April 1, 2011: AMC launches 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. For that initial fee, members would receive $5 on every $50 spent between the box office and the concession stand at any AMC theater nationwide.
September 2011: Headquarters Move Announced
In September 2011, AMC Theatres announced plans to move its headquarters to Leawood, Kansas, in suburban Kansas City.
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 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: Acquired by Wanda Group
In May 2012, AMC Theatres was acquired by Chinese conglomerate Wanda Group for $2.6 billion.
July 2012: Canadian Theatres Sold
In July 2012, AMC Theatres sold four of its eight movie theatres in Canada to Cineplex Entertainment and two more locations were sold to Empire Theatres.
September 4, 2012: 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 owned a majority stake
From 2012 to 2018, the Chinese conglomerate Wanda Group owned a majority stake in AMC.
2012: Digital Cinema Projectors Completion
In 2012, AMC completed deal with Sony to replace all of its reel projectors with digital cinema projectors.
2014: Captioning and Description Services
By 2014, AMC pledged to equip all of its theaters in Illinois with captioning and description services.
August 2015: Gerardo I. Lopez Resigned
In August 2015, Gerardo I. Lopez announced his resignation as CEO of AMC Theatres.
December 2015: Adam Aron Appointed CEO
In December 2015, AMC 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 officially 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 in a $1.1 billion deal.
March 2016: Acquisition of Carmike Cinemas Announced
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 acquisition offer from AMC Theatres, 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: Carmike Acquisition Closed
On December 25, 2016, the acquisition of Carmike Cinemas by AMC Theatres was closed, making AMC the largest cinema chain in the United States.
2016: AMC becomes largest movie chain
In 2016, AMC acquired Odeon Cinemas, UCI Cinemas, and Carmike Cinemas, becoming the largest movie theater chain in the world.
January 2017: Nordic Cinema Group Sold to AMC
In January 2017, Nordic Cinema Group was sold to AMC for approximately $929 million.
March 1, 2017: Rebranding of Carmike Locations
On March 1, 2017, AMC Theatres CEO Adam Aron announced that the company would rebrand Carmike Cinemas locations under the AMC name, with smaller locations rebranded as AMC Classic and kitchen-equipped theaters as AMC Dine-In.
April 21, 2017: AMC relaunches CityWalk location as Universal Cinema
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 Plan Announced
In July 2017, AMC Theatres announced they would cut $30 million in expenses by the end of the year through measures such as reducing operating hours and cutting staffing levels.
2017: AMC Entertainment settles federal securities law charges
In 2017, AMC Entertainment Holdings, Inc. agreed to settle federal securities law charges for $18 million, accusing the company of defrauding investors and artificially inflating stock prices.
July 2018: AMC Stubs program split into three tiers
In July 2018, AMC Stubs was split into three programs: the free AMC Stubs Insider; the yearly fee-based AMC Stubs Premiere, which costs $15 annually; and the monthly fee-based AMC Stubs A-List.
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, however Wanda Group still controlled the majority of AMC's board of directors.
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 had reduced its ownership of AMC common stock to just under 50% but continued to retain majority control over AMC's board of directors.
March 18, 2020: Closure of Theaters 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: Furlough of Corporate Employees
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 Theatres announced that they would no longer carry films from Universal Pictures after NBCUniversal CEO Jeff Shell commented that the studio wanted to release films via premium video-on-demand simultaneously with theatrical releases. AMC threatened to do the same with any other studio that abandoned current windowing practices without good faith negotiations.
June 3, 2020: AMC expresses doubts about remaining in business
On June 3, 2020, AMC Theatres stated that it had "substantial doubt" that it would remain in business.
July 2020: AMC announces reopening policies amid COVID-19 pandemic
In July 2020, AMC announced reopening policies amid the COVID-19 pandemic, initially recommending but not requiring masks. After public outcry, the policy was changed to require masks.
July 28, 2020: AMC and Universal resolve dispute
On July 28, 2020, AMC Theatres and Universal Pictures resolved their dispute, with AMC agreeing to a shorter theatrical window of 17 days before Universal could release their films via premium VOD, along with revenue sharing.
August 20, 2020: AMC begins reopening selected locations
On August 20, 2020, AMC Theatres began reopening selected locations in the United States. AMC also offered a special 15-cent ticket promotion that day, promoted as "Movies in 2020 at 1920 Prices" in honor of the company's centennial year, and aimed to have at least two thirds of its locations open by the September 3 release of Tenet. The company also upgraded its air filtration systems and installed electrostatic sprayers.
October 2020: AMC reports potential cash depletion
In October 2020, AMC Theatres 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, amid financial downturns caused by the COVID-19 lockdowns, Wanda's ownership in AMC was increasingly diluted due to new financing by AMC and short squeezes.
January 26, 2021: AMC announces 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. The company stated that this new funding "should allow the company to make it through this dark coronavirus-impacted winter".
February 5, 2021: Wanda Group reduces stake in AMC
On February 5, 2021, a U.S.-based subsidiary of Wanda Group issued a filing with the SEC, stating that it had converted its Class B common stock to Class A shares to permit their sale. Wanda remained AMC's largest single shareholder, the conversion, as well as AMC's financing efforts taking its stake below 37%, effectively surrendered its majority control.
February 2021: Wanda 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 significant revenue drop
In March 2021, during its fourth-quarter earnings call, AMC Theatres reported that its revenue had fallen by 88% year-over-year. CEO Adam Aron cited progress on COVID-19 vaccinations and decisions to allow cinemas to re-open as signs of optimism. Aron also 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, largely confirming the end of their involvement in AMC.
June 2021: AMC shares surge due to retail investor activity
In June 2021, retail investors propelled AMC shares to an all-time high of $77.26. AMC issued more shares during the surge, but warned potential investors against buying the shares "unless you are prepared to incur the risk of losing all or a substantial portion of your investment".
July 2021: AMC Theatres to acquire leases to Americana at Brand and The Grove
In July 2021, AMC Theatres announced it would acquire the leases to the Americana at Brand in Glendale and The Grove at Farmers Market in Los Angeles, formerly owned by Pacific Theatres.
July 2021: AMC partners with Chance the Rapper
In July 2021, AMC Theatres partnered with Chance the Rapper and House of Kicks to distribute his concert film Magnificent Coloring World internationally. This marked the first time a recording artist distributed a film through AMC.
August 2021: AMC plans to accept cryptocurrencies
In August 2021, AMC Theatres revealed plans to begin accepting cryptocurrencies such as Bitcoin for purchases in the future.
November 2021: AMC begins accepting cryptocurrency payments online
In November 2021, AMC Theatres began accepting cryptocurrency payments online for purchases via PayPal.
December 2021: AMC Theatres acquires leases to former Pacific Theaters location at Northridge Fashion Center and the Arclight Chicago 14
In December 2021, AMC Theaters also announced that they had 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: AMC Theatres begins selling popcorn via food delivery
In January 2022, AMC Theatres started selling popcorn via food delivery services in response to the downturn in movie theater attendance caused by the COVID-19 pandemic.
February 2022: AMC Theaters reached a deal to acquire the leases to the Arclight Montgomery 16 and the Arclight UTC 14
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, with the former reopening that month and the latter in March of that year. During the same month, the company reached an agreement to acquire the lease to the Century 12 Evanston, previously owned by Cinemark Theatres, in Evanston, Illinois.
March 2022: AMC Theatres acquires share in Hycroft Mining
In March 2022, AMC Theatres acquired a 22% share in Hycroft Mining, a gold and silver mining company located 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 partners with Cinionic to install 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 took Wall Street by surprise with the announcement of its "AMC Preferred Equity Units", a new preferred share class. The units were to be listed on the New York Stock Exchange under the symbol "APE,".
December 2022: AMC acquires the former Arclight Cinemas location at The Hub on Causeway 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.
February 2023: AMC announces plans to test dynamic pricing
In February 2023, AMC announced plans to test a dynamic pricing model for tickets for showings that occur after 4pm based on seat location. Seats located near the front of the theatre and select ADA seats will be priced less than other seats and will only be made available to members of the Stubs rewards program and seats in the middle of the theatre will be priced more than the other non-front row seats.
July 2023: AMC abandons dynamic pricing after testing
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, with most customers still sitting in the middle of the theatre or other non-front seats despite the upcharge. This made AMC believe that this made their prices less competitive as competitors did not also adapt dynamic pricing.
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