Shares of AMC Entertainment Holdings Inc. (AMC) soared 17% in the extended session Tuesday after it and Universal Filmed Entertainment Group , a division of Comcast Corp. (CMCSA), announced a multi-year agreement in which Universal movies will be shown at AMC Theatres for 2 1/2 weeks before they go online. Under the deal, the so-called "theatrical window" will be shortened to 17 days from the current 75. For consumers, that means instead of waiting 2 1/2 months to watch a new movie at home, they will be able to see at least some titles just 2 1/2 weeks after they premiere in theaters. The deal settles a dispute between the companies over how soon new films should be allowed to appear on digital platforms. AMC shares are down 43% in 2020; the broader S&P 500 index is down 0.4% this year.
-Jon Swartz; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
July 28, 2020 20:09 ET (00:09 GMT)
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