UNITED STATESSECURITIES AND EXCHANGE COMMISSIONWASHINGTON, DC 20549
FORM 8-KCURRENT REPORTPURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
Date of report (Date of earliest event reported) July 24, 1997AMC ENTERTAINMENT INC.
(Exact Name of Registrant as Specified in its Charter)
(State or Other Jurisdiction (Commission (IRS Employer
of Incorporation)File Number Identification No.)
106 W. 14TH STREET, KANSAS CITY, MO64105-1977
(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code (816) 221-4000
ITEM 5. Other Events
The Company and Planet Hollywood International, Inc. ("Planet Hollywood")
have issued a joint press release dated July 24, 1997 respecting a joint venture
for the development of entertainment and entertainment-related properties
surrounding AMC-operated megaplex theatres and Planet Hollywood-operated theme
ITEM 7. Financial Statements, Pro Forma Financial Statements and Exhibits
99.1 News Release dated July 24, 1997 released by the Company and
Pursuant to the requirements of the Securities Exchange Act of 1994, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
AMC ENTERTAINMENT INC.
Date: August 8, 1997 By: /s/ Richard L. ObertRichard L. Obert
Senior Vice President and
Chief Accounting and
PLANET HOLLYWOOD AND AMC ENTERTAINMENT FORM 50/50 JOINT VENTURE TO DEVELOP"PLANET MOVIES BY AMC"
Exciting New Concept Will Combine Moviegoing, Dining and Retail
ORLANDO, Fl. and KANSAS CITY, Mo. (July 24, 1997) - Planet Hollywood
International, Inc. (Nasdaq:PHII) and AMC Entertainment Inc. (Amex:AEN) today
announced the formation of a joint venture to develop, own and operate a unique,
integrated moviegoing, dining and retail concept worldwide.
The new complexes, which will be branded "Planet Movies by AMC", will create a
new out-of-home entertainment experience combining AMC's industry-leading
megaplex with Planet Hollywood-theming, as well as additional exciting dining,
retail and entertainment opportunities. The new concept creates, through one
location, diverse choices of exciting out-of-home entertainment.
The movie-themed experience will begin the moment a guest arrives and will
extend through the entire visit. In addition to the latest in sight and sound
technology and comfort and convenience amenities, the theatre component is
anticipated to feature traditional and alternative concession fare, movie
memorabilia, and unique theming that combines the world of movies and movie
celebrities with characteristics of the Planet Hollywood and AMC brands. The
restaurant and retail component is projected to include two themed sit-down
restaurants including Planet Hollywoods's restaurant concepts, and additional
movie and entertainment-based retailers.
The joint venture combines two of the world's premier brands to capitalize on
global fascination with movies and movie celebrities and the growing consumer
appetite for quality leisure-time activities. The partnership will leverage
the operating strengths of both companies through synergistic businesses,
marketing and promotions.
Keith Barish, chairman of Planet Hollywood commented, "The Planet Hollywood
strategy of on-going celebrity involvement together with the synergies of co-
branded locations will enhance the entertainment experience. The venture has
enormous potential, and we are excited to work with AMC Entertainment.""We believe this exciting new concept will offer consumers the next evolution
in location-based entertainment, allowing the venture to secure premier sites
worldwide," stated Stan Durwood, chairman and chief executive officer of AMC
Entertainment. "By combining with the immense talents and resources of Planet
Hollywood, we are creating a totally new leisure-time experience."
The venture plans to open complexes worldwide with the objective of having icon
locations in major metropolitan and other select areas. To initiate the
venture, seven existing AMC megaplex theatres with more than 150 screens will be
re-branded under a license arrangement to incorporate certain elements of the
new concept. The initial seven re-branded locations will include markets such
as Orlando, Florida. The AMC Pleasure Island 24 megaplex in Orlando is situated
directly across from Planet Hollywood's most successful restaurant and retail
unit and adjacent to Disney's Pleasure Island.
The venture will own and operate all subsequent units including 8 to 10
complexes with 200 to 250 screens over the next 18 to 24 months. Over the longer
term, the venture anticipates rolling out units at the rate of 5 to 10 per year.
Planet Hollywood is a creator and worldwide developer of consumer brands that
capitalize on the universal appeal of movies, sports and other entertainment-
AMC Entertainment is a worldwide leader in motion picture exhibition with 2,045
screens in 230 theatres in 23 states, District of Columbia, Portugal and Japan.
Certain statements contained herein are forward-looking statements that are made
pursuant to the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995. Forward-looking statements involve known and unknown risks
and uncertainties that may cause the joint venture and its partners actual
results in future periods or plans for future periods to differ materially from
what is currently anticipated. Those risks include, among others, risks
associated with the timing of and costs associated with new location openings,
availability of sites and general competitive factors and a change in retailer,
landlord or consumer acceptance of the joint venture and its partners products
Dates Referenced Herein and Documents Incorporated by Reference