The show will go on at AMC Entertainment. The world’s largest theater chain said Tuesday it’ll keep most of its cinemas in the U.S. and Europe open. And all of its movie houses in the Middle East will remain open as well.
AMC pointed to several new movies scheduled for release over the next two months such as Disney’s “Soul” and Universal’s “The Croods: A New Age” as reason to keeps its doors open.
The move comes one day after its rival, Cineworld, said it would close all its Regal theaters in the U.S. and Cineworld and Picturehouse theaters in the UK starting Thursday. Prompting that decision was the move by several studios to delay major releases such as MGM’s and Universal’s latest James Bond flick, “No Time to Die.” And later that day, Warner Brothers announced it’s putting off the release of “Dune” and “The Batman.”
COVID-19 has been a show stopper. Measures taken by countries to combat the pandemic have led to the closing of movie theaters around the world. The postponement of releases only added to the industry’s woes.
But shares of AMC and Cineworld, which both tumbled Monday, rose in early trading Tuesday.