Exhibition ruled the stock market today after a long holiday weekend saw Paramount’s A Quiet Place Part II crush it, earning $57 million over four days. That’s not far from the $60 million that the John Krasinski-directed sequel was anticipated to do in its 3-day opening pre-pandemic, according to my colleague Anthony D’Alessandro. Shares of Paramount
AT&T
AT&T CEO John Stankey took a Godzilla vs. Kong victory lap Thursday as the film managed to storm the domestic box office and provide a solid boost for HBO Max. Subsidiary WarnerMedia’s strategy of releasing its 2021 slate day-and-date in movie theaters and on its new premium streaming service was highly controversial when announced last
Despite the industry dust-up over WarnerMedia’s controversial 2021 theatrical-HBO Max release strategy, according to AT&T CEO John Stankey, the move was “the right call,” essentially “using the unfortunate set of circumstances around the pandemic for an opportunity to make lemonade out of lemons.” When asked this morning on the Q4 earnings call about the long
John Stephens, the outgoing CFO of WarnerMedia parent AT&T, defended the company’s move to release its 2021 film slate concurrently on HBO Max and in theaters and cited Warner Bros. century-long relationship with Hollywood talent — with some disgruntled at the move and the way it was communicated. “We’ve got a long history of working
“There is no way to sugarcoat this for the theater operators,” said one Wall Streeter as exhibition stocks plunged Thursday on WarnerMedia’s bombshell – a reimaging of its entire 2021 release slate that hit an exhibition industry already teetering on the brink. Cinemark shares– up earlier in the session — lost nearly 22% of their
John Stankey, CEO of WarnerMedia parent AT&T, said productions – with about 130 underway since last week – are up and running but “the question is, what does exhibition look like?” “We don’t have great visibility on that,” Stankey said, speaking on a conference call after the telco, cable and media entertainment giant reported third-quarter
Stocks rose Friday morning, dipped, then rose again as the market continued a rocky ride, exhibitors struggled to hold on to gains and WarnerMedia parent AT&T scrapped a major stock repurchase plan to conserve cash. Investors are weighing a massive stimulus package being finalized by Congress against the rapid spread of the coronavirus infection, corporate