AMC CEO Adam Aron on N.Y.C. movie theaters reopening

After nearly a year of closures, New York City cinemas will be permitted to open on March 5, Gov. Andrew Cuomo said Monday.

Movie theaters in the city will be allowed to operate at 25% capacity, consistent with rules currently in place for locations in the rest of New York State.

The movie theater announcement follows a recent series of moves the governor has made over the past few weeks to reopen the state’s economy. Large New York City arenas like Barclays Center and Madison Square Garden are preparing to welcome a limited number of fans for live basketball games beginning Tuesday.

Last week, Cuomo said indoor family entertainment centers, such as arcades, trampoline parks and laser tag facilities, could reopen beginning March 26 and outdoor amusement parks will be able to return April 9 at limited capacity.

“Governor Cuomo’s announcement that movie theatres can reopen in New York City in the first week of March is another important step towards restoring the health of the movie theatre industry and of our company,” said Adam Aron, CEO of AMC, in a statement.

Aron said the company will reopen all 13 of its New York City theaters on March 5.

Notably, March 5 also marks the day that Disney’s “Raya and the Last Dragon” becomes available in theaters and on Disney+ and Lionsgate’s “Chaos Walking” hits cinemas. Later in March, Warner Bros.′ “Godzilla v. Kong” will also make its debut.

Masks required

“Movie theaters in New York will be brought in line with the rest of the state: 25% capacity; no more than 50 people per screening; masks; assigned seating; social distancing; staff to control occupancy, traffic and seating to ensure compliance,” Cuomo said. “They need the enhanced air filtration, ventilation and purification standards that DOH has specified.”

Cuomo has repeatedly said the state has seen the end of its post-holiday coronavirus spike while simultaneously warning the emergence of highly contagious virus strains, like the B.1.1.7 strain first identified in the U.K., could derail the state’s progress and reverse its downward trend in cases.

New York is reporting a weekly average of 7,400 Covid-19 cases daily, a more than 13% decline compared with a week ago and the state’s lowest average since the beginning of December, according to a CNBC analysis of data compiled by Johns Hopkins University.

“Theater owners are pleased with the announcement that New York City movie theaters will be allowed to safely re-open,” the National Association of Theatre Owners said in a statement. “Stringent voluntary health and safety protocols have made it possible for cinemas across the country to operate safely and responsibly at higher capacity limits for many months without a single outbreak of COVID-19 being traced to movie theaters.”

“New York City is a major market for moviegoing in the U.S.; re-opening there gives confidence to film distributors in setting and holding their theatrical release dates, and is an important step in the recovery of the entire industry,” the group, which represents more than 33,000 movie screens in the U.S.

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[matthewkneram]

Good job trying to rail the guy. Going to the movies is a part of American culture and will never go away. Your anchor sounded racist and ignorant!

[SnYpReCoN]

Where's the damn part she called out "THE CHINESE" people. TF?

[johnz]

You guys cut out the part where she asks why the chinese sold out.

[sgtscoots]

Nothing artificial about our LOVE for AMC!!!!

[jeffm]

Yall are clowns at cnbc. AmC gang holding strong. We love amc. We love the stock

[JOE]

Live on air she said "Why did the chinese sell out" . Not only was that racist, it was completely wrong. The chinese company(Wanada) that has shares in AMC, has 44 Million shares and Sold 2 Million. That's about a 5% sell, and it was before AMCs stock became so popular.

Big investors are putting millions into AMC, because they know it is a very strong stock, with huge potential.

To the MOON.

[MP-vdck]

Atleast AMC's CEO knows what he is talking about he mentioned Top Gun 2 and Fast 9 in the interview that is a good sign for AMC share holder's.

[samw]

Adam Aron is bigger than cnbc, he bodied your questions🚀🚀🚀

[huoila]

Such unprofessionalism from CNBC and Sara eisen. “The Chinese” are investors with a name. Thanks for showing everyone on live tv how CNBC is not only a joke but are also racist.

[NORWOODShadow]

We'll hold you up AMC just don't let us down

[daviddhoughton]

AMC will be a powerhouse stock soon

Hey Tesla. Hey Apple.

[BryanHocking]

WE LOVE THIS STOCK!!! MORTAL KOMBAT!!!! APES EAT CRAYONS ON ROCKS FLOATING IN SPACE!!!

[t-raidenthunderbolt]

Aron handled that like a STRAIGHT G!!!! Averted those bs scripted questions targeting the shareholders!!! Much love to

[tophue]

Artificial inflation of the stock by reddit retail traders? AMC did a great job in raising capital themselves. Kudos to CEO Adam Aron for rightly pointing this out. The retail traders merely like the stock and what the company is doing, and hence are buying into it.

And also, where's the portion talking about "the Chinese" selling off their shares? 🤔

[alexandrewaldemar]

A kick in the teeth "we have enough cash in the bank ...for a long long time..." thank you Mr. Aron!

[SB-dwvx]

"THE CHINESE" I feel like she was fed that question on the teleprompter.

[drkpaladin]

I too like this company and it's stock :)

[jamesgrant]

Hey @CNBC Television. Why did you not display the full interview? Particularly the part when your awful interrogator mentions why CHINA sold his shares?

[Inthatgoodway]

Hey wheres the part where they the news anchor referred to the amc investor group Wanda as the Chinese?

[MrDarkbloodPRO]

Set those sell limit to 1000 baby or 2k