The project relies on funding by the Defense Department, which will be channeled to the film giant through the U.S. The Trump administration said on Tuesday that it would extend a $765 million loan to Eastman Kodak Company to begin producing critical pharmaceutical components, in an effort to allay American dependence on foreign countries for essential medicines. Kodak will set up its project to produce pharmaceutical components in the Eastman Business Park in Rochester, N.Y. AMC has major operations in Europe and the Middle East. Universal has cleared its schedule until October, when it will release “Candyman,” a remake of the horror classic, directed by Nia DaCosta and co-written and produced by Jordan Peele.ĪMC and Universal said they would start negotiations for international releases in the coming weeks. AMC has said that it hoped to begin reopening in “mid to late August,” but has pushed that time line back several times as virus cases have surged in the country. No firm start date for the deal was set because theaters remain closed because of the pandemic. “The partnership we’ve forged with AMC is driven by our collective desire to ensure a thriving future for the film distribution ecosystem and to meet consumer demand with flexibility and optionality.” “The theatrical experience continues to be the cornerstone of our business,” Donna Langley, chairman of the Universal Filmed Entertainment Group, said in a statement.

The studio controls the “Fast and Furious,” “Jurassic World” and “Despicable Me” franchises. Universal may opt to let big-ticket sellers play exclusively in theaters for longer than 17 days. After that, the studio has the option to make its movies available in homes through premium video-on-demand services.

The deal, announced on Tuesday, gives AMC the exclusive right to show movies from Universal and its Focus Features division for just 17 days in the United States - down from roughly 90 days, long the industry norm. 1 movie chain in the world, have reached a deal to allow movies to move to homes after a mere three weeks in theaters in the United States, almost certainly changing the way that Hollywood does business. LOS ANGELES - Universal Pictures and AMC Entertainment, the No. Valerie Macon/Agence France-Presse - Getty Images

Universal amc showtimes