Theater chain AMC reaches new debt restructuring deal, shares surge
As part of the deal, the company will transfer certain leases, property, and related assets and rights for 175 theaters to a newly formed subsidiary, Muvico, along with intellectual property including the AMC brand name. The world’s largest theater chain had been grappling with the aftermath of the Hollywood strikes last year that shut down productions and affected U.S. theater chains. However, CEO Adam Aron on Monday signaled a rebound.
Reuters•
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