Exhibitor AMC Entertainment is expected to announce today (Thursday) that it plans to shut down more than 500 screens in older multiplexes over the next two years, Daily Variety reported. The AMC chain comprises 2,774 screens in 181 theaters. With movie chains easing up on their building frenzy and apparently under no pressure to add Imax facilities to their existing multiplexes, Imax warned investors Wednesday that it expects to report a substantial net loss in fiscal 2000. It provided no details about its expected losses.

Source: Studio Briefing