AMC Backs Away After Talks To Acquire Cineworld Theaters
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To paraphrase the immortal words spoken in Glengarry Glen Ross, a movie that once played on hundreds of AMC screens: Put that coffee down, AMC. Coffee is for closers.
On Wednesday, news broke that AMC Theaters won't be closing its deal to acquire some Cineworld theaters in the US and Europe following the Regal-theater parent company declaring Chapter 11 bankruptcy in September. Count it as a whiff in windmill-chasing CEO Adam Aron's post-meme stock plight to "save" cinemas.
Source Fool.com
