Because its corporate fate has hung in the balance so publicly, AMC Theatres has drawn much of the attention in the media. However, the next tier among the largest exhibitors may be better positioned for success as the industry re-opens. In particular, analysts cite that Cinemark, the country’s third largest exhibitor, appears to have a number of strengths. They have minimal debt on the books, which allows them to invest in new opportunities as the recovery kicks in. They have also over-performed expectations financially during the pandemic, based on managing costs closely and generating revenues with innovative offers such as private watch parties, with this rental business accounting for nearly one quarter of their Q4 revenue. Last week, analyst Michael Pachter of Wedbush Securities predicted that Cinemark will “come out of the pandemic relatively unscathed.” but that “it will be years before AMC is able to revisit its prior growth strategy as it repays its growing mountain of debt.”