History of AMC Theatres in Timeline
AMC Entertainment Holdings, Inc., founded in 1920 and headquartered in Leawood, Kansas, is the largest movie theater chain globally. It holds the largest share of the U.S. theater market, surpassing Regal Cinemas and Cinemark Theatres. Through acquisitions like Odeon, UCI, and Carmike Cinemas in 2016, AMC expanded its global presence. Currently, AMC operates 2,807 screens across 353 European theaters and 7,755 screens within 593 American theaters.
1920: AMC Theatres was 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 Dubinsky brother, died.
1936: Barney Dubinsky Left the Company
In 1936, Barney Dubinsky left the company after being injured in an auto accident.
1945: Stanley Durwood Joined the Company
In 1945, Stanley, Edward's son, joined the company after leaving the U.S. Air Force.
1947: Expansion with Liberty Theater Acquisition
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 Took Control
In 1961, after Ed died, Stanley took control of Durwood Theatres, a small ten-theatre chain.
1962: Stanley Durwood mulled over multiplex model
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 Opened
In 1963, AMC opened the Parkway Twin Theatre, the company's first foray into the multiplex model, on Kansas City's Ward Parkway.
1966: Metro Plaza Opened
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 due to an injunction, it was later changed to American Multi-Cinema, Inc.
1969: Six-Screen Theater Opened 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 the UK
In October 1988, AMC Theatres announced a joint venture with United Artists Theaters and Cinema International Corporation to run cinemas in the UK and Ireland under the AMC name.
December 1988: AMC Pulled Out of UK Joint Venture
In December 1988, AMC pulled out of the joint venture in the UK and sold their U.K. assets for $98 million.
1988: Kinepolis Brussels Opened
In 1988, Kinepolis Brussels, the first megaplex in the world, opened with 25 screens and 7,600 seats.
July 1994: AMC signs agreement 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: Early stadium-style seating introduced by AMC
In 1995, AMC Theatres introduced early versions of stadium-style seating. These configurations initially placed wheelchair users in a flat area in front of the screen, which caused viewing discomfort and led to Americans with Disabilities Act (ADA) lawsuits.
April 1996: Canal City 13 Opened in Japan
In April 1996, AMC opened Canal City 13 in Fukuoka, Japan.
December 13, 1996: Ontario Mills 30 Opened
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 Opened 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, and even before the first location had opened stated that "the joint venture has no definitive plans to expand this concept once the Columbus site is completed".
October 1999: Planet Hollywood re-organization plan 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 head of AMC Theatres.
1999: Planet Movies location opens in Columbus, Ohio
In the summer of 1999, the only Planet Movies location to actually open, a 30 screen megaplex, did so at Easton Town Center in Columbus, Ohio. The location was also located alongside an Official All Star Café and Planet Hollywood restaurant.
January 9, 2001: Planet Movies by AMC joint venture formally 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, AMC returned to the UK market after 14 years with the opening of the 16-screen Great Northern theatre in Manchester.
March 2002: AMC buys General Cinema Corporation
In March 2002, AMC Theatres expanded its assets by acquiring General Cinema Corporation, adding 66 theaters with a total of 621 screens, along with Gulf States Theaters, which included five theaters with 68 screens located in the New Orleans area.
October 2003: 12-Screen Cinema Opened in Birmingham
In October 2003, AMC opened a 12-screen cinema on the Broadway Plaza site in Birmingham.
2003: AMC acquires MegaStar Theatres
In late 2003, AMC further expanded its presence by acquiring MegaStar Theatres. This acquisition added additional theaters to AMC's portfolio, particularly in the Atlanta and Minneapolis–St. Paul markets.
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 Theatres merged with Loews Cineplex Entertainment, resulting in the formation of AMC Entertainment. This deal brought the Loews and American Cineplex chains, along with Magic Johnson Theatres (named after NBA player Magic Johnson) and Star Theatres, into AMC's portfolio.
2006: Initial Public Offering Announced
In 2006, AMC announced a new initial public offering (IPO) expected to be worth approximately $789 million.
May 3, 2007: IPO Withdrawn
On May 3, 2007, AMC 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 Theatres successfully appealed a U.S. Department of Justice order that required the company to retrofit over 1,990 screens to improve wheelchair accessibility. The U.S. Court of Appeals for the Ninth Circuit ruled that the order was excessive and violated AMC's due process rights, as existing guidelines did not specifically require wheelchair guests to have sightlines as good as those from elevated risers.
March 2, 2009: Gerardo I. Lopez Succeeded Brown as CEO
On March 2, 2009, Gerardo I. Lopez succeeded Peter Brown as president and CEO of AMC Theatres.
March 26, 2009: AMC announces agreement 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 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 IPO
On July 14, 2010, AMC filed for a $450 million IPO, its third such filing since 2006.
2010: AMC Independent film distribution program announced
In 2010, AMC Independent (AMCi) film distribution program was announced, that aims to help independent films reach a theatrical audience.
2010: AMC acquires Kerasotes Showplace Theatres, LLC
In 2010, AMC Theatres acquired Kerasotes Showplace Theatres, LLC, a Chicago-based movie theater chain, for $275 million. This acquisition combined the second and sixth largest movie theater chains in the United States, with the exception of the Showplace 14 in New Jersey and the Showplace ICON theatres.
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 reports 3.2 million members
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 Disability Rights Organization
In April 2012, AMC reached a settlement with the state of Illinois regarding complaints from a disability rights organization and pledged to equip its theaters with captioning and description services.
May 2012: Acquisition by Wanda Group
In May 2012, AMC Theatres was acquired by the Chinese conglomerate Wanda Group for $2.6 billion.
July 2012: Canadian Locations Sold
In July 2012, AMC Theatres sold four of its eight Canadian locations to Cineplex Entertainment, and two more to Empire Theatres, later acquired by Landmark Cinemas.
September 4, 2012: Acquisition Deal 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 Majority Stake in AMC
From 2012 to 2018, the Chinese conglomerate Wanda Group owned a majority stake in AMC Theatres.
2012: Digital Projector Installation Completion
In 2012, AMC completed its $315 million deal 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 Illinois with captioning and description services.
August 2015: CEO Resignation
In August 2015, Gerardo I. Lopez announced his resignation as CEO of AMC Theatres.
December 2015: Adam Aron Appointed as CEO
In December 2015, AMC announced that Adam Aron would be the company's president and chief executive officer, starting on January 4, 2016.
December 2015: Starplex Cinemas sold to AMC
In December 2015, Starplex Cinemas was acquired by AMC Theatres for approximately $175 million.
January 4, 2016: Adam Aron Becomes CEO
On January 4, 2016, Adam Aron officially became the president and chief executive officer of AMC Theatres.
March 3, 2016: AMC announces intent to acquire Carmike Cinemas
On March 3, 2016, AMC Theatres announced its intention to acquire Carmike Cinemas for $1.1 billion, pending regulatory and shareholder approval. This acquisition would have allowed AMC to become the largest movie theater chain in the United States, surpassing Regal.
March 2016: Acquisition of Carmike Cinemas Announced
In March 2016, AMC Theatres announced its intention to 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 approval.
July 2016: UCI & Odeon Cinema Group sold to AMC
In July 2016, UCI & Odeon Cinema Group was sold to AMC Theatres for approximately $1.21 billion, pending approval from the European Commission.
November 2016: AMC acquisition of UCI & Odeon Cinema Group closed
In November 2016, the acquisition of UCI & Odeon Cinema Group by AMC Theatres was finalized after receiving approval from the European Commission, expanding AMC's international presence.
December 2016: AMC merger with Carmike Cinemas officially closed
In December 2016, the merger between AMC Theatres and Carmike Cinemas was officially completed, solidifying AMC's position in the movie theater industry.
December 25, 2016: Carmike Cinemas Acquisition Closed
On December 25, 2016, AMC closed the deal to acquire Carmike Cinemas, making AMC the largest cinema chain in the United States.
2016: AMC Became 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, a leading movie theater operator in the Nordic and Baltic area, was sold to AMC Theatres for approximately $929 million.
March 1, 2017: Rebranding of Carmike Cinemas
On March 1, 2017, AMC Theatres CEO Adam Aron announced the rebranding of Carmike Cinemas locations under the AMC name, with smaller locations becoming AMC Classic and kitchen-equipped theaters rebranded as AMC Dine-In.
March 2017: AMC completes acquisition of Nordic Cinema Group
In March 2017, AMC Theatres completed the acquisition of Nordic Cinema Group after receiving clearance from the European Commission, further extending its international operations.
April 21, 2017: Universal Cinema, an AMC Theatre relaunched after renovation
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: AMC Classic launched
As of July 2017, most of the theaters acquired from Starplex Cinemas in 2015 began operating under the name AMC Classic.
July 2017: Cost Reduction Plan Announced
In July 2017, AMC Theatres announced it would cut $30 million in expenses by the end of the year through measures like reducing operating hours and staffing levels.
2017: AMC unifies cinemas under three banners
Following the acquisition of Carmike Cinemas, in 2017, AMC began to unify its cinemas under one of three main banners.
2017: AMC settles federal securities law charges
In 2017, AMC Entertainment Holdings, Inc., along with some of its executives and underwriters, agreed to settle federal securities law charges for $18 million. The case involved allegations of defrauding investors about the financial health of acquired theater operators and integration challenges, leading to artificially inflated stock prices during its secondary public offering (SPO).
July 2018: AMC Stubs 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: Silver Lake Partners Invests in AMC
In September 2018, Silver Lake Partners invested $600 million in AMC.
September 2018: Investment from Silver Lake Partners
In September 2018, Silver Lake Partners made a $600 million investment in AMC Theatres to repurchase approximately 32% of Wanda Group's class B common stock.
October 2019: AMC Theatres On Demand Launched
In October 2019, AMC began offering 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%, but retained 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 its theaters due to the COVID-19 pandemic, expected to last for at least six to twelve weeks.
March 25, 2020: Furlough of Corporate Employees
On March 25, 2020, AMC furloughed all of its 600 corporate employees, including CEO Adam Aron, while retaining their active employment status and health benefits.
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 NBCUniversal CEO Jeff Shell commented that the studio wanted to release films via premium video-on-demand simultaneously with theatrical releases.
June 3, 2020: AMC expresses doubts 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 following public outcry
In July 2020, AMC Theatres initially announced that masks would be recommended but not mandatory when most of their theaters reopened during the COVID-19 pandemic. After facing significant public backlash, AMC reversed its policy and required masks, acknowledging that the initial approach "did not go far enough on the usage of masks".
July 28, 2020: AMC and Universal resolve dispute with shorter theatrical window
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 Reopens Selected Locations with Special Promotion
On August 20, 2020, AMC began the process of reopening selected locations in the United States and offered a special 15-cent ticket promotion that day, promoted as "Movies in 2020 at 1920 Prices," to honor the company's centennial year.
October 2020: AMC reports depleted cash resources
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 Ownership Diluted
In January 2021, Wanda Group's ownership in AMC was increasingly diluted due to new financing and short squeezes.
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, which the company stated "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, Wanda Group issued a filing stating that 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 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 decline in Q4 earnings call
During its fourth-quarter earnings call in March 2021, AMC reported an 88% year-over-year revenue decline. CEO Adam Aron cited progress on COVID-19 vaccinations and the reopening of cinemas in New York City and Los Angeles as signs of optimism.
May 21, 2021: Wanda Group files 0.002% stake with the SEC, confirming end of 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 shares soar to all-time high amid alleged short squeeze
In June 2021, AMC stock surged to an all-time high of $77.26 in another alleged short squeeze, with short sellers incurring losses of over $2.8B. AMC issued more shares but warned investors of the risk of losing their investment.
July 2021: AMC to acquire Pacific Theatres leases
In July 2021, AMC Theatres announced its intent to acquire the leases for the Americana at Brand and The Grove at Farmers Market locations in Los Angeles, formerly owned by Pacific Theatres, with plans to reopen them in August as part of the AMC chain.
July 2021: AMC partners with Chance the Rapper to distribute 'Magnificent Coloring World'
In July 2021, AMC Theatres partnered with Chance the Rapper to distribute his concert film Magnificent Coloring World to cinemas internationally.
August 2021: AMC plans to accept cryptocurrencies for purchases
In August 2021, AMC revealed plans to begin accepting cryptocurrencies such as Bitcoin for purchases in the future.
November 2021: AMC begins accepting cryptocurrency via PayPal for online purchases
In November 2021, AMC began accepting cryptocurrencies for online purchases via PayPal.
December 2021: AMC acquires more Pacific Theaters leases
In December 2021, AMC Theatres announced the acquisition of leases for the former Pacific Theaters location at Northridge Fashion Center in Northridge, Los Angeles, as well as the Arclight Chicago 14 in Lincoln Park, Chicago. Both locations were slated to open in 2022.
January 2022: AMC Theatres starts selling popcorn via food delivery
In January 2022, AMC Theatres began selling popcorn through food delivery services, as a strategy to offset the financial impact of the COVID-19 pandemic on movie theater attendance. This was before plans to sell popcorn in supermarkets were implemented.
February 2022: AMC to acquire additional Arclight Theaters leases
In February 2022, AMC Theatres reached an agreement to acquire the leases for the Arclight Montgomery 16 at Westfield Montgomery in Washington D.C. and the Westfield UTC mall's Arclight UTC 14 in La Jolla. The Arclight Montgomery 16 reopened in February 2022, with the Arclight UTC 14 following suit in March.
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. Hycroft Mining had been facing a significant liquidity crisis the previous year.
April 2022: AMC Theaters acquires Bow Tie Cinemas locations
In April 2022, AMC Theaters acquired seven Bow Tie Cinemas locations. These locations were situated in Connecticut, New York, and Maryland, adding to AMC's theater network in these states.
April 2022: AMC announces agreement with Cinionic to install laser projectors
In April 2022, AMC also 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, to be listed on the New York Stock Exchange under the symbol "APE".
December 2022: AMC acquires Arclight Cinemas at The Hub on Causeway
In December 2022, AMC Theatres finalized a deal to acquire the former Arclight Cinemas location at The Hub on Causeway in Boston, expanding its presence in the Boston area.
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.
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, which made AMC believe that this made their prices less competitive as competitors did not also adapt dynamic pricing.
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