AMC Entertainment's Fire Sale Has Begun

AMC Entertainment's Fire Sale Has Begun

AMC Entertainment (NYSE: AMC) isn't wasting any time shedding assets. At the beginning of August, the movie theater operator previewed an ugly quarter that ended up featuring a net loss of over $176 million. To help shore up its finances, which suffer from deep indebtedness in addition to that now significant net loss, AMC promised it would unload around $400 million worth of assets.

Sure enough, several days later it announced the sale of its 50% ownership stake in the movie distribution company Open Road Films. That's the first of AMC's divestments, and it surely won't be the last.

Image source: AMC Entertainment

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Source: Fool.com