Spider-Man Breaks More Records, Will Sony Shareholders Benefit?

Movie theater companies like AMC Entertainment Holdings (NYSE: AMC ) and Cinemark Holdings (NYSE: CNK ) are likely benefitting from the record-setting summer box office results of Sony Group ‘s (NYSE: SONY ) "Spider-Man: Brand New Day." The film recently surpassed "Star Wars: The Force Awakens" to become the highest-grossing domestic film of all time with $936.77 million at the box office, Variety reported. Globally, the film ranks third with $2.45 billion, trailing "Avatar" and "Avengers: Endgame" at $2.9 billion and $2.7 billion respectively. "Endgame" ranks third domestically ($858.4 million). Sony, Disney Share Spidey Sony splits the big-screen ownership of Spider-Man with Disney thanks to a strategic gamble it made in 1998 . This means Sony won’t enjoy all of the box office money or merchandise and licen...