It depends on whether listeners are attached to the parent or child MovieClips, weak links or not.
When adding a listener, you can use the last parameter to set whether the listener will use a weak link. This is exactly what you need to know about the issue you are interested in.
//This listener will use a weak reference, notice the last "true"
something.addEventListener("event", myFunction, false, 0, true);
//This is called a weak reference listener.
//The ussual listener, with default parameters, is a strong refence listener.
EventDispatcher Reference
Thus, the object will collect garbage if all references to such an object are deleted. Listeners are added with the default parameters specified in these links (since the last default value is - false). Therefore, having a MovieClip with strong reference listeners attached to it or any of its children, removing it from the display list, the clip will NOT be garbage collected until the listener links are also deleted (using the method removeEventListener).
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