AMC warns it’ll run out of cash in January, calls out Warner Bros.’ shift to HBO Max
AMC Theatres is warning its investors that if it doesn’t find $750 million, it will run out of cash by the middle of January 2021.
The company issued new public documents today announcing that because executives can’t predict what the supply of movies will be like, and it’s unclear if people will even file into theaters again soon, the company is unsure of how much money it can make. Specifically, AMC’s documents note that executives can’t know with “certainty the impact of the Warner Bros. announcement or any similar announcements regarding the release of movie titles concurrently to the home video or streaming markets.” Conversations with studios like Warner Bros. and Disney have yet to take place, the documents add.
Now, AMC is…