Cinemas shares obtained a lift Wednesday after a report stated Amazon plans to spend $1 billion a yr on theatrical movie releases. The tech firm plans to make between 12 and 15 films for film theaters every year, Bloomberg reported, citing folks aware of the matter. A smaller variety of movies will probably be produced in 2023 as Amazon builds up its output, the report stated. associated investing information Historical past reveals this 4th quarter rally is probably going virtually over Cinemark jumped 11% on the information, with IMAX up 7% and AMC up 5%. Amazon declined to remark. Amazon has deepened its investments in unique content material through the…
