Can "It" Save the Multiplex?

It's been a summer to forget for the movie-theater industry, but hope springs eternal that a killer clown preying on the deepest fears of bullied kids can save the day. Time Warner's (NYSE: TWX) New Line Cinema is pushing It into multiplexes over the weekend, and the film based on Stephen King's novel and subsequent miniseries is generating plenty of buzz.

It rang up $13.5 million in ticket sales during Thursday night's debut, and industry tracker Box Office Mojo is forecasting more than $80 million in ticket sales during its opening weekend. Time Warner's horror flick is a lock to surpass the $67 million in box-office receipts generated by all 12 of the highest-grossing films during the extended Labor Day holiday weekend.

We could be going from the worst Labor Day holiday for multiplex operators since 2000 to one of the industry's strongest September weekends, giving AMC Entertainment (NYSE: AMC), Regal Entertainment (NYSE: RGC), and smaller exhibitors a good reason to celebrate. Time Warner and theater owners may finally be ready to party, but please, no red balloons.

Source: Fool.com