AMC Theatres CEO Adam Aron: 'Some of the armchair quarterbacks on Twitter, who give me advice every day, if I follow their suggestions, we would have run out of cash a long time ago'
Locarno: Oscar-Winning Editor Pietro Scalia on the "Existential Crisis" of the Hollywood Strikes, Working With Ridley Scott, Oliver Stone and Michael Mann
“Barring complications to the timing of film releases due to the uncertainties of the writers and actors strikes currently well underway, unfortunately, we have good reasons to believe that the second half box office will continue to show real strength this year,” Aron said.
Aron added AMC needed to keep raising fresh capital to continue strengthening its balance sheet and reducing overall debt. In the last year, AMC raised $418 million in new equity and retired $548 million of debt since creating the APE units for financial markets. Aron added AMC needed to maintain “ample cash reserves” until the exhibition industry returns to pre-pandemic levels, likely either next year or in 2025. “If we were running out of cash before we get to 2024 or 2025, that would be a disaster. And that’s a disaster that I simply will do everything in my power to make sure that this company avoids,” he argued.
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