Groupon Partners With AMC To Expand Presence In North America
Zacks Investment Research | Dec 03, 2018 09:33PM ET
Groupon Inc. (NASDAQ:GRPN) raised the bar of its marketplace platform with the recent distribution partnership agreement with AMC Entertainment Holdings, Inc. (NYSE:AMC) .
Leawood, KS-based AMC was founded in 1920. It is a subsidiary of China-based Dalian Wanda Group Co. Ltd. AMC is one of the largest global movie theater chains with around 661 theaters in the United States and approximately 365 theatres worldwide.
AMC’s strong presence in North America will aid Groupon to focus on expanding its presence primarily in the local markets. Notably, AMC’s ranking according to market share comes in first or second across 22 out of 25 largest metropolitan regions across the United States, comprising Los Angeles, Chicago and New York (that constitute top three markets).
With the partnership, Groupon marketplace intends to provide its customers with better access to movies by means of AMC’s multitude of screens and theaters across the United States. Both the companies look forward to work together over the long haul in order to capitalize on the market opportunities.
The integration of Groupon’s marketplace with AMC’s theaters is anticipated to commence “in the first half of 2019”.
Following the news, shares of Groupon and AMC were up 1.6% and 4.2%, respectively, yesterday. Notably, Groupon’s stock has declined 38.8% year to date, against the Original post
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