Jim Cramer Believes Amazon Buying AMC Is Possibility
Amazon and AMC?
The U.K.’s Daily Mail newspaper reported that Amazon has held talks with the world’s largest cinema-chain owner, which runs movie theaters globally under the AMC and Odeon names in the U.K., the U.S. and Canada, among other locations.
The two companies have reportedly held talks about a potential takeover of AMC by Amazon.
However, it is not clear if the discussions are still active or if they will lead to a deal, sources told the Mail.
AMC earlier this month come out against Comcast (CMCSA) - Get Report-owned Universal Pictures after Universal opted to bypass theaters and released its “Trolls: World Tour” movie directly to consumers amid the pandemic and global lockdown.
AMC, in retaliation, effectively banned Universal from showing any of its releases in AMC-owned theaters for the foreseeable future.
Speculating on the reports, Jim Cramer said, "Maybe they [Amazon] will use it as a test for their movies."
With industries like the movie theater industry being hit hard by the coronavirus, could this help AMC in the long run?
And, on the other hand, there's Amazon. So, what does Cramer think that this means for Amazon? He breaks it down in the video above.