It's either a big risk or an amazing opportunity, but there are indications that Amazon.com Inc. is looking to acquire AMC Entertainment Holdings Inc., reports S&P Global, Market Intelligence. With most of its movie theaters closed during the pandemic and a highly-leveraged balance sheet, AMC is ripe for a savior.
But why would Amazon want to venture into the movie theater business and buy a troubled company during coronavirus? Besides picking up a bargain, Amazon might be looking at providing theater goers with a "tech-heavy" experience for its content and selling tickets to its Prime members, Tom Forte, an analyst with D.A. Davidson, told S&P Global.
Justin Begnaud, managing partner at film finance and management company Kirin Media, told S&P Global that Amazon is in a unique position to "leverage its experience in digital retail and streaming to innovate the film and event space."
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