"AT&T-owned WarnerMedia shook up Hollywood when it announced on Thursday that it will release all of its 2021 Warner Bros. films to its HBO Max streaming platform at the same time the movies hit theaters.
The news sent shares of AMC (AMC) down 14%, Cinemark (CNK) down 17%, and IMAX (IMAX) down 7%.
After one month of streaming on HBO Max, the films will leave the platform and continue to play in theaters [emphasis mine], the company said, calling the plan a 'unique, consumer-focused distribution model' and a 'strategic response to the impact of the ongoing global pandemic.'"
So after a month of being available on your television they're going to send it to the theatres were no one is going for some time? I guess.