AMC Chief Adam Aron Gets $3.75 Million Bonus
Brent Lang, provided by
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AMC Entertainment CEO Adam Aron received a $3.75 million bonus at a time when many of the company’s employees have been laid off and several of its theaters are closed due to COVID-19, according to public filings.
It’s been a grueling period for the world’s largest theater chain, one that has seen its cinemas shuttered indefinitely or operating at reduced capacity for much of the last 12 months as the coronavirus pandemic raged. AMC Entertainment, which was heavily leveraged heading into the pandemic, was believed to be on the verge of bankruptcy. However, Aron and his team were able to renegotiate the company’s substantial debt at several points and AMC now says it has raised enough capital to keep itself operational through the winter. AMC Entertainment piled on debt in recent years as it outfitted locations with enhanced seating and purchased competitors such as Carmike Cinemas and UCI & Odeon Cinema Group.