Movie Theater Stocks Surge Amid Report Amazon Plans $1B Theatrical Push
Amazon plans to release 12 to 15 movies in theaters, with the push into the local multiplex getting underway in 2023. An Amazon source tellsthat planning is only beginning for the theatrical effort and the exact number of titles has yet to be determined.
The move follows the e-commerce giant acquiring MGM Studios for $8.45 billion. Amazon is thought to have eyed MGM for its vast, 4,000 film title library, but attention is now turning to how the studio will be run under the e-commerce giant’s leadership, with an eye to continuing production of theatrical tentpoles.
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