Apollo also receives 36.9% in voting control.
AMC officials have indicated that the money infusion would be used to pay down debt and to retain a full line of credit if needed for future purchases. Currently, AMC has about $425 million in revolving credit.
AMC has been one of the few national theater exhibition companies to aggressively open megaplexes while simultaneously closing its smaller, under-performing screens. The company opened its first megaplex in Dallas in 1995 and since that year, has closed more than 800 of its other screens.
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