AMC Kips Bay Multiplex Expected to Close in Manhattan
What happened
The AMC Kips Bay multiplex in Manhattan is expected to close at the end of this year. The location, which was a longstanding cultural institution, was privately purchased by NYU Langone over a year ago.
From variety.com
Why it matters
The closure of the Kips Bay multiplex, AMC Theatres' second-largest location in Manhattan, affects the company's core business. Some city officials expressed surprise that the acquisition deal was not disclosed to them prior to the sale.
From variety.com
Who's involved
- AMC TheatresOperates the multiplex in Manhattan
- ManhattanBorough where the multiplex is located
- City of New YorkMunicipal government with jurisdiction over the area
Who could feel it
Possible knock-on effectsThese are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.
- AMC TheatresSpeculative
AMC Theatres might see reduced core revenue due to the closure of the Manhattan multiplex.
Keep exploring
The entities involved
-
Manhattan
borough of New York City, New York, United States
-
AMC Theatres
US-based movie theater chain in the US and Europe