Movie Theaters

Capacity restrictions on New York City movie theaters – now at 33% — will be lifted on May 19 but six-foot social distancing rules won’t — a somewhat confusing edict set out earlier Monday by Governor Andrew Cuomo. Break out the measuring sticks. Cuomo rarely mentions movie theaters and didn’t specifically today but it seems
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The closure of Pacific Theatres and ArcLight may have sounded alarm bells over the dire state of exhibition due to the coronavirus pandemic, but theater owners are especially frustrated, anxious and unnerved that a signature government lifeline so far has struggled to get up and running. The Shuttered Venues Operators Grant (SVOG), as the Small Business
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AMC Entertainment revenue fell last quarter plunged to $162 million from close to $1.5 billion the year as the global pandemic squeezed exhibition. That beat expectations, coming about $20 million above Wall Street’s consensus estimates. The stock is up in late trading. Net losses widened to $946 million, including a hefty one-time impairment charge, from
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Financially hurting cinema advertising network National CineMedia has inked a deal to run ads with Coinstar, a big operator of supermarket coin-counting kiosks. With the exhibition business on the Covid-19 skids, the agreement helps expand National CineMedia’s digital-out-of-home footprint by extending its movie-centric entertainment content, trivia, and advertising beyond movie theaters to complementary venues. It
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Donna Langley, chairman of Universal Filmed Entertainment Group, and Ann Sarnoff, chair and CEO of Warner Bros had the same reaction Thursday when asked if their companies had any interest in buying movie theaters. They laughed. “We have no plans to do that currently,” Langley said, appearing with Sarnoff and CBS CEO George Cheeks on
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Last week, just before the President’s diagnosis consumed us, Hollywood leaders joined in asking that Congress send coronavirus relief funds to exhibitors. Those were described as a life-and-death issue for theaters.  A mortal threat. And who can doubt it? If the White House isn’t safe, movie houses are certainly still a question mark. But the
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AMC Entertainment announced Monday it’s officially concluded a complex, and controversial, restructuring of approximately $2.6 billion of its debt that included an exchange and fresh capital raise. The news came as iyd new distribution deal with Universal Pictures continues to roil the industry. Holders of more than 87% of senior subordinated notes participated in an
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As theaters start reopening, Fandango is looking to make the help moviegoers return to theaters confidently with a newly launched comprehensive program. Starting today, Fandango.com and Fandango mobile apps will begin rolling out new resources and product functionality, including social distance seating maps, a one-stop guide to safety policies provided by more than 1000 theater
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Giant exhib AMC Entertainment said it expects to report ballooning losses of between $2.1 and $2.4 billion for the first quarter ended in March on one-time charges compared with losses of $130 million the year before. Announcing preliminary results Wednesday, it ancipated revenue of $941 million last quarter versus $1.2 billion the year earlier. The
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Giant U.K. exhibitor Cineworld said it will open theaters in July when it currently anticipates restrictions on cinemas will be lifted in each of its territories, and that it antcipates a cash infusion from government COVID-19 relief programs in the U.K. and U.S. along with new loans. “Subject to this [restrictions being lifted] and confirmation
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Cinemark CEO Mark Zoradi said  Hollywood studios “are anxious to get back in this business once safety is no longer a concern,” shrugging off Universal/Dreamworks Animation’s Trolls World Tour going directly to PVOD as a blip in the road. It was a highly successful one for Universal, however, with Trolls bringing in about $50 million, according
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