Giant cinema chain AMC Theatres said it’s reached lease agreements and plans to reopen theatres in the Los Angeles and Chicago markets — beginning operations at AMC Northridge Fashion Center 10, a Pacific theatre, in Northridge, Calif., in the and at the AMC Chicago 14, formally an Arclight location in the Lincoln Park neighborhood, under their new names in spring of 2022.
That bring to four the former Pacific & Arclight locations AMC has acquired in 2021. AMC said it remains in active discussions with other property owners regarding additional currently closed locations.
“These theatres have previously been high-traffic, successful locations, in two of AMC’s top markets, and we are pleased to offer the AMC experience at them a few months from now in 2022,” said AMC CEO Adam Aron.. “These are prime examples of how AMC is staying on offense, looking for opportunities to strengthen our company through the acquisition of these popular locations.”
He said the exhibitor’s most recent acquisitions of AMC The Grove 14 and AMC Americana at Brand 18 are already showing success, routinely finishing in the top 10 theatres in box office performance among more than 150 theatres in the LA market, and in the top 30 in the U.S.
The pandemic crushed U.S. exhibition and some chains did not return. Pacific Theatres Exhibition Corporation, which includes Arclight Cinemas, filed for Chapter 7 bankruptcy in June. Soon after, AMC reached an agreement with Los Angeles real estate titan Rick Caruso for the leases to the 14-screen Grove Theatre in Los Angeles and the 18-screen Americana at Brand Theatre in Glendale, CA, located at their respective outdoor malls.
(The industry is still awaiting word of the prospects for one of its favorite locations, the Cinerama Dome and sister Hollywood Arclight Cinemas, owned by Decurion. Deadline reported recently that the location is in the planning stages of refurbishments with no reopening date set.)
Must Read Stories
Is Broadway Doing Enough To Fight Omicron? Deadline Asks The Experts
‘Spider-Man’ Surges To $751M Global And Will Hog Holiday; Room For ‘Matrix’, ‘Sing 2’, ‘King’s Man’?
‘Atlanta’ Gets A Season 3 Premiere Date After A Three-Year Hiatus
Governors Awards Latest To Be Postponed; Broadway, Red Carpets, More Cancellations
Read More About:
Source: Read Full Article