AMC plans to open Saudi Arabia’s first cinema theatre, in Riyadh, on April 18. It marks the first time a commercial cinema theatre has opened in the country in nearly four decades. Reports say the first movie screened in the Kingdom will be Marvel’s Black Panther. With a population of more than 32 million, the majority under the age of 30, Saudi Arabia is set to become the largest market for moviegoers in the Arabian Gulf region. The Kingdom is set to have nearly 350 cinemas, with more than 2,500 screens, by 2030.
AMC has announced plans to acquire Carmike Cinemas for a reported $737 million in cash. Under the terms of the deal, AMC will offer $30 a share, an increase of 19 percent over Carmike’s closing price on Thursday. AMC would also Carmike’s debt, making the transaction worth about $1.1 billion. If approved, the deal would give AMC more than 600 theatres, making it the largest theatre chain in the country.