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AMC Entertainment Holdings

AMC Entertainment Holdings. AMC Entertainment. Founded in 1920 Pioneered the multiplex theatre format in the early 1960s and the North American megaplex theater format in the mid-1990s Acquired other theater companies such as Loews and General Cinema

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AMC Entertainment Holdings

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  1. AMC Entertainment Holdings

  2. AMC Entertainment • Founded in 1920 • Pioneered the multiplex theatre format in the early 1960s and the North American megaplex theater format in the mid-1990s • Acquired other theater companies such as Loews and General Cinema • As of June 28, 2007, owned, operated or held interests in 377 theatres with a total of 5,300 screens, approximately 87% of which were located in the United States and Canada • Theatres are primarily located in large urban markets in which we have a strong market position relative to our competitors. • One of the most modern and productive theater circuits, with average screen per theater count in the United States and Canada of 14.8, pro forma attendance per theater of more than 655,000 patrons, both of which we believe to be substantially in excess of industry averages. • For the 52 weeks ended June 28, 2007, on a pro forma basis, had revenues of $2.4 billion, adjusted EBITDA of $425.6 million, a loss from continuing operations of $60.3 million and, on a historical basis, we had net cash provided by operating activities of $394.7 million.

  3. What is happening? • AMC Entertainment Holdings, Inc. ("Parent"), an entity created on June 6, 2007, is the sole stockholder of Marquee Holdings Inc. ("Holdings"). • Holdings is a holding company with no operations of its own and has one direct subsidiary, AMC Entertainment Inc. ("AMC Entertainment"). • On June 11, 2007, Marquee Merger Sub Inc. ("Merger Sub"), a wholly-owned subsidiary of Parent, merged with and into Holdings, with Holdings continuing as the surviving corporation. • As a result, Holdings became a wholly owned subsidiary of Parent, a newly formed entity controlled by the Sponsors, as defined under "—The Reclassification." • The Sponsors created Parent to facilitate a debt financing by Parent and a related dividend by Parent to its stockholders. • Upon completion of this initial public offering, Holdings will be merged with and into Parent, with Parent continuing as the surviving entity.

  4. Risk factors • Significant amount of debt – as of June 28, 2007, on a pro forma basis: • Had $1.939 billion of outstanding indebtedness. • $177.5 million was available for borrowing as additional senior debt under our senior secured credit facility • Subsidiaries had approximately $5 billion of undiscounted rental payments under operating leases (with initial base terms of between 15 and 20 years) • Prior to fiscal 2007, had reported net losses in each of the last nine fiscal years totaling approximately $512.0 million

  5. Would you invest? • Management • Opportunities for growth in revenues • Opportunities for controlling operating expenses • Other factors? • What other information would you want?

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