Amazon has reportedly entered into discussions to buyout struggling movie chain, AMC Entertainment. Reports of the buyout discussion has helped AMC’s stock price soar.
The talks are just rumors according to The Daily Mail. Neither company made comments to the New York Post on the rumors.
AMC Theaters recently announced that they would take on more debt and also retained a law-firm to help with Chapter 11 filings.
Deadline is reporting that the two are not actually in talks but that is according to unnamed sources.
Amazon buying theaters would be a move to help slowdown streaming rival Netflix from doing the same.
AMC stocks were up 30% to $5.33.