As Regal parent Cineworld prepares to exit Chapter 11 this month, rumors are heating up over who will emerge as the giant theater chain’s new chief executive, with reports Monday pointing to Eduardo Acuna of Cinepolis. Longtime Cineworld CEO Moody Greidinger has a consulting contract during a transition period but isn’t likely to stay in
Mooky Greidinger
Executives of Regal parent Cineworld, led by CEO Mooky Greidinger, have agreed to a payout in the $30 million range, Deadline has confirmed, in the event that they leave leave the company as it prepares to exit Chapter 11. Documents filed earlier this year during ongoing bankruptcy proceedings in the Southern District of Texas indicated
Further to its April 3 announcement that it had reached a conditional agreement with lenders to emerge from Chapter 11, Regal owner Cineworld today submitted its reorganization plan to the U.S. Bankruptcy Court for the Southern District of Texas. In a filing to the London Stock Exchange where its shares are traded, the exhibition giant
Regal owner Cineworld has entered into a restructuring support agreement and a backstop commitment agreement with lenders that will, if approved, see it emerge from bankruptcy. The exhibition giant also noted today that it has received non-binding proposals for some or all of the group’s assets but determined that absent an all-cash bid significantly in
Bankrupt Regal parent Cineworld said it had multiple bids for all or some of its assets in initial expressions of interest due last week. Its business includes Regal in the U.S.; Cineworld and Picturehouse in the UK and Ireland; and “rest of world” cinemas in Central and Eastern Europe, and Israel. Cineworld attorney Joshua Sussberg
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 an adjusted EBITDA of
“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
Of course, any kind of day and date release puts exhibitors in competition with the studios’ streaming services, and no doubt there’s a loss of cash in the collapse of the theatrical and PVOD window. However, the worst takeaway from dynamic windows is piracy, plain and simple. Such was the message from CinemaCon’s first panel
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
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
Cineworld Group, owner of Regal Cinemas in the U.S. and the world’s second largest exhibitor, has reacted to Warner Bros’ bombshell announcement on Thursday that its entire 2021 film slate will debut on HBO Max day-and-date with cinemas domestically. In a statement, Cineworld CEO Mooky Greidinger said the company believes that wen cinemas make a
In a major sign of confidence in the future of theatrical moviegoing, Cineworld Group, the world’s second largest exhibitor and owner of Regal in the U.S., has secured significant additional liquidity that will help ensure its future despite ongoing challenges created by the COVID-19 pandemic. This includes a new debt facility of $450M, while further
With Cineworld and Picturehouse cinemas temporarily closed in the UK from this past Friday, Cineworld Group CEO Mooky Greidinger has written to UK Prime Minister Boris Johnson asking the government to reinstate the furlough program that benefited employees under the exhibition giant’s previous COVID-imposed closure, while also suggesting other measures to aid the industry. In
EXCLUSIVE: Cineworld Group, the world’s second biggest exhibition chain, today announced plans to temporarily close its Regal movie theaters in the U.S. and its Cineworld and Picturehouse sites in the UK as coronavirus wreaks havoc with the industry. Cineworld CEO Mooky Greidinger tells Deadline the decision primarily came down to New York Governor Andrew Cuomo’s
After being closed for over five months, Cineworld reopened about 200 of its Regal Cinemas in the U.S. this past weekend. Health and safety measures — which required an investment in the millions across the parent company’s full estate — were in place, and the response from audiences was “encouraging,” says Cineworld Group CEO Mooky
Regal Entertainment owner Cineworld Group has confirmed it will re-open cinemas in some of its markets during the last week of June, with all theaters expected to be back online during the course of July. Cineworld chief Mooky Greidinger had previously told Deadline he expected a late June/early July start back to operations, while the
EXCLUSIVE: Following yesterday’s flurry of dramatic exchanges involving AMC, the National Association of Theatre Owners and Universal, Regal Entertainment owner Cineworld Group has now added its voice to the chorus of windows controversy surrounding Trolls World Tour. The world’s second biggest circuit says its policy with respect to the window “is clear, well known in
EXCLUSIVE: As movie theaters have shuttered around the globe due to the ongoing coronavirus pandemic, exhibition is among the front line of industry sectors feeling the crisis. Cineworld Group, which owns Regal Entertainment in the U.S. and is the world’s second biggest circuit, has faced challenges recently, including closing cinemas until further notice, a share