AMV is an app that is used to read some magazines. Its actual name is Adobe Magazine Viewer.
It was always on your device but was hidden. Now it's been made visible - presumably since some magazines need it.
Lots of people have the same sitaution as you i.e. the app shows up but does nothing on opening. For some it always shows 'installing', for some it installs but does nothing on opening.
No way to remove it.