VIDEO : Why Movie Theater Companies Like AMC Lost $1.3 Billion

Last week, AMC Theatres fired the shot heard around the popcorn machine. The company has been aggressively buying up cinema chains and adding recliners and fancy food options to its theaters. It announced plans on August first to cut costs and previewed brutal second-quarter earnings. After a profit of 7 cents a share in the first quarter, the world?s largest exhibitor reported a massive loss of one dollar and 35 cents a share. The weak box office proved to be a drain for Regal, Cinemark and Canadian chain Cineplex as well.