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AMC Theatres® Continues Its Strategic Theatre Acquisitions, Announces the Acquisition and Reopening of Former Pacific Northridge Fashion Center 10 in Northridge, CA, and Former Arclight Chicago 14
AMC Entertainment Holdings continues its expansion by announcing lease agreements for two new locations in Los Angeles and Chicago, formerly operated by Pacific and Arclight. AMC expects to reopen these theatres in spring 2022, further solidifying its position as the largest theatrical exhibitor. AMC Americana at Brand 18 and AMC The Grove 14 are already top performers in the LA market, ranking in the top 10. The company is actively pursuing additional acquisitions to strengthen its market presence.
Positive
Acquisition of two high-traffic locations in LA and Chicago.
AMC Americana at Brand 18 and AMC The Grove 14 ranking among the top 10 in LA box office performance.
Plans to explore additional acquisitions to enhance market presence.
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With these two new locations plus AMC American at Brand 18 and AMC The Grove 14, AMC has now acquired four former Pacific & Arclight locations in 2021
Since reopening, AMC Americana at Brand 18 and AMC The Grove 14 consistently rank among the top 10 theatres in box office performance in the Los Angeles market and among the top 30 in the United States
AMC continues to explore additional acquisition opportunities in key locations in the United States
LEAWOOD, Kan.--(BUSINESS WIRE)--
AMC Theatres (NYSE:AMC), the largest theatrical exhibitor in the United States, in Europe & the Middle East, and in the world, today announced it has reached lease agreements and plan to reopen theatres in the Los Angeles and Chicago markets. AMC is expected to begin operations at AMC Northridge Fashion Center 10, formally a Pacific theatre, in Northridge, Calif., in the spring of 2022. AMC expects to begin operations at AMC Chicago 14, formally an Arclight location in NEWCITY located in the Lincoln Park neighborhood, under a new name in spring of 2022.
AMC remains in active discussions with other property owners regarding additional currently closed locations.
Upon reopening, guests at both locations can expect many of AMC’s most popular amenities, including enhanced food and beverage offerings, and AMC Stubs, a world class loyalty and subscription service that includes AMC Stubs A-List.
Adam Aron, Chairman and CEO of AMC, commented: “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. 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. Our most recent acquisitions of AMC The Grove 14 and AMC Americana at Brand 18 are already showing their success as those locations routinely finish 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 entire United States.”
About AMC Entertainment Holdings, Inc.
AMC is the largest movie exhibition company in the United States, the largest in Europe and the largest throughout the world with approximately 950 theatres and 10,500 screens across the globe. AMC has propelled innovation in the exhibition industry by: deploying its Signature power-recliner seats; delivering enhanced food and beverage choices; generating greater guest engagement through its loyalty and subscription programs, web site and mobile apps; offering premium large format experiences and playing a wide variety of content including the latest Hollywood releases and independent programming. For more information, visit amctheatres.com.
