AMC Entertainment CEO Adam Aron believes that the movie theater industry is heading for a strong rebound due to widespread distribution of the coronavirus vaccine and an expected increase in cinema attendance. Aron told "The Claman Countdown" on Monday that his company was facing bankruptcy until last weekend, when they managed to raise a $917 million equity investment to sustain the movie theater chain deep into 2021. While the spread of the virus continues to keep many of its movie theaters shuttered, Aron announced that "two-thirds" of theaters in the U.S. have already begun to safely reopen. AMC STOCK TAKES A HUGE HIT AS CINEMARK IS REPORTEDLY EYEING ITS THEATER LOCATIONSThe company, still reeling from financial devastation, is not completely out of the woods, but Aron remains hopeful of a "healthy, strong summer." GET FOX BUSINESS ON THE GO BY CLICKING HERE"With theaters opening, with movie titles releasing, we got a future," he said, "and I’m looking forward to a nice, healthy strong summer."

Source: Fox News January 26, 2021 22:18 UTC