The addition of the No. 2 exhibition chain is a coup for MovieTickets.com — and a logical development following the settlement in November of the online ticketing company’s suit that charged AMC with a breach of contract when it went exclusively with Fandango. The new non-exclusive relationship adds 4,950 AMC screens to MovieTickets’ tally, for a total of more than 22,000. That “substantially increases our domestic reach” with “some of the highest grossing and busiest locations in many of the strongest markets across the country,” says MovieTickets CEO Joel Cohen. The ticketing service also has deals with Carmike Cinemas, CineMark, Cinepolis, Landmark, Rave Cinemas, and Regal. MovieTickets co-owner Hollywood Media noted in an SEC filing last year that the court agreement with AMC included a “non-exclusive ticketing agreement,” but the terms were confidential. The companies have had a rocky relationship since 2000 when they created MovieTickets as a 50-50 venture, later adding National Amusements. In 2012 Hollywood charged AMC with “unconscionable, unfair, and deceptive acts and practices” that culminated with its decision that year to move its online business exclusively to Comcast-owned Fandango. The suit added that MovieTickets’ “current viability has been threatened” by AMC, which at the time still owned 26.2% of MovieTickets. AMC said in a recent SEC filing that Fandango sold 17.2M tickets for the chain in 2012. AMC is owned by China’s Wanda Group, but went public with a minority stake late last year. AMC shares are up 2.4% in mid-day trading.
By DAVID LIEBERMAN, Financial Editor | Tuesday January 21, 2014 @ 12:55pm ESTTags: AMC Entertainment, MovieTickets.com
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This article was printed from http://www.deadline.com/2014/01/amc-theaters-teams-up-again-with-movietickets-com-adding-it-as-an-online-ticketing-provider/
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