Why AMC Is Embracing Memestock Status
►Reddit “WallStreetBets” traders go wild after AMC Theatres CEO embraces their ownership. Adam Aron bets that online enthusiasm will help keep the exhibition giant afloat until the pandemic wanes. “Just go on Twitter, just go on Reddit, just go on YouTube, read what these people write. They love AMC.”
--“[Aron] is totally onboard, convince me otherwise,” wrote user Nruggia. “This dude is so smooth with the subliminals. Gotta love it lol,” added yazooguy1.
--“These individual investors likely own a majority of our shares, they own AMC. We work for them. I work for them,” Aron said on the call of the “more than 3 million” individual investors that own AMC shares. “By definition, their interests and passions are important to AMC, their ambitions and passions are important to me.”
The story.
►Faces of Death, a faux documentary that became a grizzly cult hit in the VHS era, is getting a 21st century makeover. Legendary Entertainment, currently basking in the box office glow of hit
Godzilla vs. Kong, has picked up the rights to the title with the goal of launching a new horror franchise. Isa Mazzei and Daniel Goldhaber, the team behind the 2018 psychological thriller
Cam, will write and direct, respectively.
The story.
►Daily Mail is telling a New York federal judge not to give Mike Lindell a chance to amend his defamation suit over a story that claimed the MyPillow CEO secretly dated actress Jane Krakowski. Lindell in January sued the outlet after it reported that he dated the 30 Rock and Unbreakable Kimmy Schmidt star for several months and showered her with gifts, including fancy booze.
--Daily Mail moved to dismiss the matter on April 12, but Lindell has since asked to amend his complaint. In a May 6 letter to U.S. District Judge Paul Crotty, the outlet’s lawyer Kelli Sager argues it would be futile to allow it. The story.
+Is Robinhood about to get wrecked after (mis)quoting Ice Cube? Facing a lawsuit from the rapper/actor, the stock trading app says it has every right to comically parody a ubiquitous phrase first used in a song three decades ago, Eriq Gardner writes. The story.
In other news...
--Tyler Perry is rounding out the cast of his new Netflix film A Jazzman’s Blues. Amirah Vann, Austin Scott, Milauna Jackson, Brent Antonello, Brad Benedict, Kario Marcel, Lana Young and Ryan Eggold have boarded the movie.
--As India faces one of the worst COVID-19 outbreaks in the world, more celebrities are stepping up to use their platforms to raise funds and drive relief efforts.
--J Balvin may not yet be able to tour amid the COVID-19 pandemic, but that didn’t stop him from taking over a Los Angeles stadium on Thursday night. Balvin-centered documentary The Boy From Medellin premiered at the Rose Bowl just before its Friday release, marking another step forward for pandemic-safe in-person events.
--Night of Covenant House Stars is filling up with more stars. Jon Hamm, Morgan Freeman, Jon Bon Jovi, Desus Nice and the Kid Mero, Ben Platt, Zach Braff, Chita Rivera, Marlon Wayans, Charlie Day, Mary Elizabeth Ellis, Dionne Warwick, Tony Shalhoub, Amanda Kloots, Ana Villafañe, Denée Benton, Jeremy Jordan, Alex Newell, Stephanie J. Block, Laura Osnes and Jason Ralph have joined the lineup for the May 17 event.
--WME has signed director, writer and actor Sujata Day for representation in all areas.
What else we're reading...
--"What is an entertainment company in 2021 and why does the answer matter?" [Matthew Ball]
--"The 'reopening story' Ari Emanuel is telling Wall Street may get old fast" [Vanity Fair]
--"Stirring buzz and backlash, Elon Musk promises to behave when he hosts SNL" [LA Times]
--"In defense of Netflix's 'figure it out' approach to world building" [The Ringer]
Today's birthdays: David Attenborough, 95, Enrique Iglesias, 46, Alex Van Halen, 68, Martha Wainwright, 45, Bill de Blasio, 60.
