- Sources say Amazon (NASDAQ:AMZN) is considering buying AMC Theatres (NYSE:AMC), the world's largest cinema chain. The duo are said to have held talks about a potential takeover of AMC by Amazon; it is unclear if the discussions are still active or if they will lead to a deal, DailyMail reports.
- A deal would give Amazon a tighter grip on Hollywood.
- AMC is reportedly on the verge of bankruptcy, giving Amazon the opportunity to snap it up on the cheap.
- In 2018, Amazon considered buying Landmark Theatres, but lost out to the eventual buyer, Cohen Media Group. Netflix (NASDAQ:NFLX) was also reportedly in the running to buy Landmark.
- A takeover of AMC would be on a different scale. Landmark had 250 screens in the U.S., while AMC has about 10,000 around the world.
- Shares of AMC are +17% on volume of 61K shares.