The rumor mill is churning again. Instead of reports focusing on companies like Tesla (NASDAQ:TSLA) or Apple (NASDAQ:AAPL), people are talking Thursday about Amazon buying Landmark — a movie-theater chain.
If this were to happen, Amazon (NASDAQ:AMZN) would be upping the ante on its already public competition with Netflix (NASDAQ:NFLX)
Here’s what we know.
Amazon Buying Landmark: True or False?
Presently, the world only has a Bloomberg report to go off of. However, the report did cite two sources close to the matter (both of whom chose to stay anonymous), therefore there has to be some truth in the rumor, even if only a little.
According to Bloomberg, Amazon wants to buy out Landmark Theaters from Wagner/Cuban Cos. However, we don’t know for how much, or whether a final decision has executed.
Moreover, keep in mind that neither Amazon nor Landmark Theaters have commented on the news.
But that hasn’t stopped people from talking about it. According to Leo Kulp, an RBC Capital Markets analyst, the possibility of Amazon buying Landmark is “probably a move to get broader distribution of film content,” which is where Netflix comes into play. Kulp said the international streaming service was also “discussed as a potential buyer of Landmark for a similar reason.”
Just as it has not stopped analysts and news outlets from talking about the possibility of a buyout, it hasn’t stopped investors from charging the Amazon stock either.
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Amazon Price Today: August 16, 2018
At press time, according to Yahoo Finance, Amazon is trading at $1,897, which puts the stock up 0.79%.
For perspective, the AMZN stock opened at $1,903 and previously closed at $1,882.
The Takeaway
Remember that, for the time being, this is all speculation. It’s very likely we could hear something from Amazon about the rumors tomorrow, or next week at the latest.
What do you think about the possibility of Amazon buying Landmark? Yay or nay?
Featured Image: DepositPhotos /© wolterke
