UPDATED with quotes from AMC & Cineworld CEOs: This is a big deal: For the first time, all three big exhibitors are on board with releasing a major Netflix title — that being the Rian Johnson-directed sequel Glass Onion: A Knives Out Mystery, the franchise that the streamer snapped up for nearly $400M as Deadline
Cineworld
No surprise here, but we hear Regal has shuttered 12 of its 542 multiplexes as parent company Cineworld remains in Chapter 11 bankruptcy. Those 12 include Anaheim Hills 14, Calabasas Stadium 6, Westpark 8 in the Los Angeles market; Crow Canyon Stadium 6 in the San Francisco area, the Broadway Faire in Fresno, CA; Richland
Ailing exhibition giant Cineworld Group, which is currently finalizing a reorganization plan having filed for Chapter 11 bankruptcy in the U.S. earlier this month, has released encouraging interim results for the six months to June 30, 2022. Overall revenue rose to $1.5b against $292.8m in the same period in 2021, for a gross profit of
Cineworld plans to file its reorganization plan by Oct. 31, an attorney for the giant chain said today at a hearing. It also won’t be forced to state its case in a Canadian appeals court next month for reneging on a merger agreement with Cineplex. Judge Marvin Isgur of the Southern District of Texas, who
Shares of Cineworld rose Friday after a U.S. Bankruptcy Court judge granted Regal Cinemas’ parent Cineworld immediate access to up to approximately $785 million of a financing facility, providing sufficient liquidity for the giant theater chain to meet ongoing obligations, including to vendors, suppliers and employee salaries and benefits. The shares, traded on the London
Widespread optimism months ago that domestic box office might readily return to pre-Covid levels has given way to a new sense of pragmatism about the movie business. This year’s tally will far surpass last year’s $4.5 billion haul, but it will certainly fall billions short of 2019’s $11.4 billion in receipts, and all bets are
“I do think the studies will get paid, like they usually do, whatever they are owed. Because we are the suppliers and that’s usually what happens,” Lionsgate vice chair Michael Burns said Wednesday of the Chapter 11 filing earlier in the day by Regal Cinemas’ parent Cineworld. “Those things seem to go through the same
The shoe finally fell today as giant theater chain Cineworld filed for Chapter 11. The bankruptcy includes a $1.94 billion debtor-in-possession financing facility from existing lenders to keep things running. Cineworld expects to emerge from Chapter 11 in the first quarter of 2023 and meanwhile will pursue “a real estate optimisation strategy in the US,”
AMC Entertainment’s new APE securities — AMC Preferred Equity Units – began trading today late morning in a messy session for the big exhibitor, whose primary stock is down by almost 40%. APES were being distributed to AMC shareholders via their brokers starting this morning. Shareholders are getting one APE for each share of common
In response to recent speculation, Cineworld has provided an update to its August 17 announcement regarding an evaluation of strategic options to both obtain additional liquidity and potentially restructure its balance sheet through a comprehensive deleveraging transaction. Reiterating that Cineworld’s theaters, including the Regal chain in the U.S., are “open for business as usual and
Cineworld,, staggering under heavy debt and facing a dip in box office revenue this quarter, asserted Friday that it’s business as usual for the giant movie chain while it explores options. The statement follows a report today that the U.K parent of Regal Cinemas is preparing to file for bankruptcy. Cineworld presaged a potential Chapter 11
Cineworld, the globe’s second largest exhibitor, today provided an update on its current trading, liquidity position and capital structure. The company, which also owns Regal in the U.S., said it is in “active discussions with various stakeholders and is evaluating various strategic options to both obtain additional liquidity and potentially restructure its balance sheet through
Cineworld and its CEO, Mooky Greidinger, have been found guilty by an Israeli court of infringing merger conditions dating back to 2010 over the supply of films to a movie theater in Tel Aviv. A suit brought by the local competition authority argued that Cineworld’s local distributor, Forum Film, did not provide eight movies over
Editor’s note: Mooky Greidinger is CEO of the world’s second-largest exhibitor, Cineworld, which also owns Regal in the U.S. A staunch supporter of the theatrical experience, Greidinger grew up in the industry and is avowedly passionate about the movie business. But as Oscars weekend arrives, he is confounded by the Academy of Motion Picture Arts
Exhibition giant Cineworld reported its full-year 2021 earnings this morning in London, showing sharply narrowed losses and vastly improved revenues versus 2020. CEO Mooky Greidinger is bullish on the the outlook for the world’s second-largest exhibitor which also owns Regal in the U.S., as the company predicts admissions in 2022 could reach 85% of the
Refresh for latest…: Cineworld Group, the world’s second-largest exhibitor and owner of Regal in the U.S., saw significant improvement in 2021 versus 2020, as revenues rose by nearly 112% to $1.805 billion, the company said this morning as it reported full-year results in London. Operating profit also rebounded, reaching $15.8 million, up from a 2020
Powered by a slate of major tentpoles including Sony/Marvel’s Spider-Man: No Way Home and MGM/Eon/Universal’s No Time To Die, Cineworld Group reports it generated positive cash flow for Q4 2021. The world’s second largest exhibitor, which owns Regal in the U.S., did not disclose dollar amounts, but released a trading update this morning for the
AMC Entertainment CEO Adam Aron said a Canadian court ruling requiring its biggest rival to pay a hefty fine is an “opportunity,” leaving Wall Street and AMC’s own legion of retail investors wondering what he meant. Last summer, in the midst of the pandemic, Cineworld, the UK-based parent of Regal Cinemas, scrapped a deal to
“There are real grounds for optimism in our industry,” Cineworld CEO Mooky Greidinger beamed today as the world’s second largest exhibitor issued a trading update. The company reached “an important milestone” in its recovery, generating positive cash flow in October, it said in the statement. Although it didn’t get into exact figures, Cineworld did report
Following last year’s cancelation and this year’s postponements, the annual CineEurope convention kicks off today in Barcelona. And what better time for studios and overseas exhibition to come together and celebrate the theatrical experience as we come off of a banner international box office weekend led by MGM/Eon/Universal’s lively launch of No Time To Die.
EXCLUSIVE: Mooky Greidinger, CEO of Cineworld, the world’s second-biggest exhibition circuit and owner of Regal Cinemas, says he’s satisfied with this past weekend’s $80M domestic theatrical box office opening for Disney/Marvel’s Black Widow. But he also tells Deadline he remains “convinced” that with an exclusive theatrical window, “we could have brought in maybe $110M, maybe
EXCLUSIVE: Cineworld has concluded a deal with Disney to show the studio’s movies at its Regal chain in the U.S. and its cinemas in the UK, Deadline has learned. This now means the world’s No. 2 exhibitor has new agreements in place with three of the major studios: Disney, Warner Bros and Universal, the latter
There’s excitement in the air — and a whole lot of movies lined up — across the UK and France as cinemas are set to reopen in both markets this week after roughly seven months of darkened screens. Below we take a look at how the situation is shaping up in these majors. In the
Cineworld CEO Mooky Greidinger said today that the No. 2 global exhibitor is “actively negotiating terms and structures of evolving theatrical windows with our studio partners.” He made the comment on an earnings call after Cineworld reported 2020 results which included its first-ever annual operating loss ($2.26B) as the industry has been greatly impacted by
Cineworld Group today reported its first-ever annual operating loss with the figure dropping over $2.98B in 2020 as compared to 2019. The previous year had seen profits of $724.7M while the period ended December 31, 2020 was at a negative $2,257.7M. The results were severely impacted by the Covid pandemic which forced the group to
Cineworld and Warner Bros have hatched a multi-year agreement that will see the No. 2 global exhibitor show the studio’s 2021 theatrical and HBO Max day-and-date titles in the U.S. as of their theatrical release. Then, beginning in 2022, Warner Bros theatrical releases will have a 45-day window of theatrical exclusivity at Cineworld’s Regal chain