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Theaters Vexed by Warner Bros.’ Straight-to-Streaming Move

  • AMC chief says he’s opened up ‘urgent dialogue’ with studio
  • The decision ‘doesn’t make much sense,’ head of Imax says
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Warner Bros. Movies to Hit Theaters and HBO Max at Same Time
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Theater chains such as AMC Entertainment Holdings Inc. and Cinemark Holdings Inc. are firing back at Warner Bros. after the studio overhauled its film-release strategy and sent their shares plummeting.

Adam Aron, chief executive officer of AMC, said he opened up an “immediate and urgent dialogue” with the studio, which announced plans to have all its major 2021 movies debut on HBO Max and in cinemas simultaneously. Shares of AMC and Cinemark, already battered in 2020, each plunged more than 16% apiece on Thursday.