AMC Takes Over Former Pacific Theatres Locations at Grove and Americana

AMC Theatres announced on Monday that it has completed talks for the long-term leases on the multiplexes at the Grove in Los Angeles and the Americana in Glendale, both of which were previously owned by the now-shuttered Pacific Theatres.

The move comes as AMC expands its circuit amidst a rapid surge in its stock price fueled by meme traders. While the chain’s stock price has fallen from its all-time peak of $62 per share at the start of June, it is still currently holding at $34 [er share, a level that, prior to the recent spike, was last reached at the end of 2016.

That hunt for new multiplexes made AMC a natural fit for the Grove and Americana. In April, shortly after Pacific Theatres and its premium sister chain ArcLight Cinemas declared bankruptcy, real estate magnate Rick Caruso announced that his company would search for a new chain to operate the cinemas, as they are anchor businesses that bring customers to shops and restaurants at the two malls.
See full article at The Wrap »

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