AMC shares rise 17% after the company shortens the “theatrical window” in accordance with Universal Pictures
Shares of AMC Entertainment Holdings Inc. AMC,
rose 17% in the extended session Tuesday after and Universal Filmed Entertainment Group UFEG,
a division of Comcast Corp. CMCSA,
announced a multi-year deal that shows Universal films for 2 1/2 weeks at AMC Theaters before going online. Under the deal, the so-called “theatrical window” will be shortened to 17 days from the current 75. For consumers, this means that instead of waiting 2 1/2 months to watch a new movie at home, they can see at least some titles in theaters only 2 1/2 weeks after premiere. The deal settles a dispute between the companies over how soon new films are allowed to appear on digital platforms. AMC shares will fall by 43% in 2020; the broader S&P 500 index SPX,
decreased by 0.4% this year.