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AMC Chief Adam Aron Gets $3.75 Million Bonus

AMC Chief Adam Aron Gets $3.75 Million Bonus
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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.

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AMC Networks Swings to Q4 Profit As International Losses Narrow

AMC Networks Swings to Q4 Profit on Streaming Gains
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AMC Networks said it swung to a profit in the fourth quarter despite a decline in revenue as it narrowed losses in its international and other operations due to an increase in revenue from streaming-video subscriptions.
The owner of the AMC, Sundance and IFC cable networks said net income came to $2.09 cents a share, or $94.7 million, compared with a loss of 15 cents a share, or $8.58 million in the year-earlier period. Revenue was essentially flat at $780.3 million. The company is known primarily for making TV series like “The Walking Dead”

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