Almost five years after AMC began screening movies in Saudi Arabia, the movie theater chain and meme stock darling is selling its stake in its joint venture in the kingdom.
Almost five years after AMC Entertainment Holdings Inc. began screening movies in Saudi Arabia, the movie theater chain and meme-stock darling is selling its stake in its joint venture in the kingdom.
The agreement means that AMC AMC, +3.29% will shift from a management and investment role in the SCC to a pure licensing partnership. Under the terms of the deal, the current 13 AMC locations in Saudi Arabia operated by Saudi Cinema Company will continue to use the AMC brand and other IP.
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