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☆ Movie theater shares pop after writers, studios reach tentative labor deal
▼ + stars: | 2023-09-25 | by ( Drew Richardson | ) www.cnbc.com time to read: +3 min

Movie theater shares popped Monday following news of a tentative labor deal between the Writers Guild of America and the Alliance of Motion Picture and Television Producers. Extremely good news that progress is being made," AMC CEO Adam Aron said Sunday in a post on X, the site formerly known as Twitter. Shares of AMC were up roughly 7% Monday. The Screen Actors Guild – American Federation of Television and Radio Artists is still on strike after failure to reach a labor agreement with AMPTP. The summer season saw a 19% year-over-year increase, due in large part to the success of "Barbie" and "Oppenheimer."

Persons: Adam Aron, it's, Kraven, Hunter, Oppenheimer, Eric Wold, AFTRA, — CNBC's Sarah Whitten Organizations: AMC, Regal Cinemas, Writers Guild of America, Alliance, Television Producers, Twitter, Disney, Comcast, Warner Bros, Discovery, Hollywood, – American Federation of Television, Radio Artists, AMPTP, SAG, Riley Securities, WGA, Netflix, CNBC Locations: Square , New York, NBCUniversal

☆ Record temperatures, plus Barbie, help to drive record movie box office
▼ + stars: | 2023-08-05 | by ( Ellie Stevens | ) edition.cnn.com time to read: +5 min

Advertisements for the films "Oppenheimer" and "Barbie" appear at AMC Theaters at The Grove on Thursday, July 20, 2023, in Los Angeles. Chris Pizzello/APThis summer, scorching heat waves are helping take the movie box office to new levels. Movie-theater air conditioning is generally silent, powerful and adapts quickly to temperature swings. Within 5 years of the introduction of air conditioning in movie theaters in the 1920s, Basile said, 3,000 movie theaters were forced to put it in just to keep up with the industry. “Before air conditioning existed in movie theaters, summer was considered the dead season.” Not anymore.

Persons: “ Oppenheimer, “ Barbie, Hope Torres, —, ” Torres, Oppenheimer, Chris Pizzello, Barbie ”, ”, Shawn Robbins, Tyler Whitmore, ‘ Oppenheimer ’, ” Whitmore, Salvatore Basile, “ Oppenheimer ”, Eric Thayer, Basile, Michael O’Leary, Jeff Yanc, John Carpenter’s, ” Yanc Organizations: CNN, Maya Cinemas, AMC Theaters, AMC, Sunday, Boxoffice, ”, Hollywood, Regal Cinemas, Warner Bros . Pictures, Warner Bros ., TCL, Bloomberg, Getty, AC, National Association of Theater, Mushroom People Locations: Maya Cinemas Fresno, Fresno , California, California, Grove, Los Angeles, Phoenix , Arizona, Arizona, Los Angeles , California, Cineworld, Tucson , Arizona

☆ Regal cinemas owner Cineworld emerges from bankruptcy
▼ + stars: | 2023-08-01 | by ( Anna Cooban | ) edition.cnn.com time to read: +2 min

London CNN —The owner of Regal cinemas announced Tuesday that it had emerged from Chapter 11 bankruptcy after slashing billions off its debts, just as smash hits “Barbie” and “Oppenheimer” give the movie theater industry a much-needed lift. “Cineworld is ready and fully able to succeed in this dynamic and constantly changing movie theater industry,” chairman Eric Foss said in a statement. (Warner Bros., like CNN, is owned by Warner Bros. Cineworld struggled to stay afloat during the pandemic, when it, along with other cinema chains, was forced to close its movie theaters worldwide. But whether the summer blockbusters will translate into a sustained revival for movie theaters remains to be seen.

Persons: Barbie ”, “ Oppenheimer ”, Eric Foss, Eduardo Acuna, Cineworld “, ”, Ann Sarnoff, Cineworld, Barbie, “ Oppenheimer, Disney’s “ Indiana Jones Organizations: London CNN, Regal, AMC, Cinepolis, Warner Bros, CNN, Warner Bros ., Universal Studios, Hollywood Locations: Cinepolis Americas, United States, ”, Disney’s

☆ 'Barbie' and 'Oppenheimer' box office debut sparks hope that cinema is back
▼ + stars: | 2023-07-24 | by ( Anna Cooban | ) edition.cnn.com time to read: +4 min

That gave the pink-drenched film the largest opening weekend of 2023 so far and the biggest-ever debut for a female director. Timothy Richards, chief executive of Vue International, Europe’s largest privately owned movie theater operator, said in a statement Sunday that it had seen its biggest weekend in four years for ticket sales. AMC (AMC), the world’s largest movie theater chain, said last week that 60,000 people had bought tickets see both films on the same day. Cineworld, the world’s second-biggest movie theater chain and owner of Regal Cinemas, filed for bankruptcy in September after posting a total $3.3 billion loss over 2020 and 2021. So far, Cineworld has shuttered 51 of its Regal movie theaters in the US.

Persons: “ Barbie ”, “ Oppenheimer, kindling, “ Barbie, Barbie ”, “, Timothy Richards, “ Vue, ’ ” Richards, Greta Gerwig’s, Burger, Crocs, Airbnb, Christopher Nolan, J, Robert Oppenheimer, Gabrielle Roitman, Kayla Seffing, Maddy Hiller, Casey Myer, Oppenheimer, Barbie, Chris Pizzello, “ Barbenheimer, —, ” Daniel Loria, Michael O’Leary, Disney’s “ Indiana Jones, ” Organizations: London CNN, Warner Bros, Universal Studios, Warner Bros ., Vue International, Europe’s, “, United, AMC, CNN, National Associations of Theater Owners, Hollywood, Regal Cinemas Locations: Brazil, California, American, United States, Los Angeles, Disney’s

☆ You won't have to pay extra for a good seat for Barbenheimer. AMC is ditching its controversial plan to charge more for movie theater seats with the best view.
▼ + stars: | 2023-07-21 | by ( Gabriel Rivera | ) www.businessinsider.com time to read: +4 min

AMC Theatres isn't going ahead with its plan to charge more for the best seats at the movie theater. After trials at select locations, the chain scrapped the plan to ensure "its ticket prices stay competitive." AMC's unpopular tiered-pricing plan would have raised costs for middle seats and charged less for seats in the front row. The US box office dropped from $11.3 billion in 2019 to just $7.3 billion in 2022, according to Box Office Mojo. The domestic box office has grossed just over $5 billion in 2023 to date, per Box Office Mojo.

Persons: Oppenheimer, Adam Aron Organizations: AMC, AMC Theatres, Office, National Association of Theater, Regal Cinemas, National Association of Theater Owners, CNBC Locations: Canada

☆ 'Barbie' and 'Oppenheimer' could be struggling movie theaters' last chance to make money this summer
▼ + stars: | 2023-07-12 | by ( George Glover | ) www.businessinsider.com time to read: +3 min

They could also be the struggling theater industry's last chance to make money this summer. Struggling movie theaters might see "Barbie" and "Oppenheimer" – which both come out July 21 – as their last chance to make money this summer. Forecasters think "Barbie" will be the highest-grossing film in the US this summer with earnings between $215 million and $319 million, the data shows. Sandwiching the two movies on Box Office Pro's leaderboard is Tom Cruise's latest "Mission Impossible" flick. AMC has lost money for 15 consecutive quarters, while Cineworld – which owns Regal Cinemas – filed for Chapter 11 bankruptcy last year.

Persons: Greta Gerwig's, Christopher Nolan's, Oppenheimer, Tom Cruise's, Meg, Mario, Indiana Jones Organizations: AMC, Alamo, Mario Bros

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Persons: it's, you'll, Price, Robin, You'll, Price Dave, Dave, Buster's, you've, Elaine Benes, we've Organizations: Amazon Prime, Amazon, GameStop, Buffalo Wild Wings, Cheesecake, Regal, GAP Locations: Grubhub, California

Persons: you'll, Price, Robin, You'll, Price Dave, Dave, Buster's, you've, Elaine Benes, we've Organizations: Amazon, GameStop, Buffalo Wild Wings, Cheesecake, Regal, GAP Locations: Grubhub, California

☆ Daniel Penny learned the chokehold that killed Jordan Neely in Marine boot camp. He likely didn't learn when to let go.
▼ + stars: | 2023-06-28 | by ( Laura Italiano | ) www.businessinsider.com time to read: +13 min

Daniel Penny learned the "rear choke" that killed Jordan Neely in boot camp, Marine veterans tell Insider. What Penny learned about chokeholds in his Marine training will be key at that trial, as a Manhattan judge or jury weighs whether Penny was negligent, or reckless, or neither. An illustration of a "figure-four variation" of a rear chokehold from the Marine Corps martial arts program training manual. The chokehold that killed Neely was "sloppy" and "excessive," said Alex Hollings, a former Marine black belt. We call this 'sinking your heels in,' and it provides added control and leverage for the choke," Hollings said.

Persons: Daniel Penny, Jordan Neely, —, Penny, Neely, Brendan McDermid Penny, Maxwell Wiley, chokeholds, Alex Hollings, Karen Friedman Agnifilo, Friedman Agnifilo, he'll, Thomas Kenniff, chokehold, Michael Jackson, Andrew Savulich, Dave Bruce, Bruce, They're, Hollings, Juan Albert Vazquez, Juan Alberto Vázquez, constricting, Jordan, Donte Mills, Lennon Edwards, Andrew Lichtenstein, Neely wasn't Organizations: Marine, Service, Manhattan, Marine Corps, US Marine Corps, Regal, New York Daily News, Tribune, Getty, Marines, Marine Corps Martial Arts Program, Reuters Locations: Manhattan, Square , New York, New, Farmington , Missouri, It's, Neely, Jordan

☆ The bosses of the Regal Cinemas owner are set to depart with $35 million after Cineworld emerges from Chapter 11
▼ + stars: | 2023-06-17 | by ( Ryan Hogg | ) www.businessinsider.com time to read: +3 min

The bosses of Cineworld, which owns Regal, will collect $35 million, the Financial Times reported. A source told Insider the payout is intended to help smooth CEO Mooky Greidinger's departure. UK-based Cineworld bought Regal, the second-biggest US movie theater chain, for $3.6 billion in 2017. Another source told the Financial Times the expected departure of the Greidingers was still a form of "comeuppance" despite the payout. A search is being conducted to identify a new CEO, the source told Insider.

Persons: Cineworld, Mooky Greidinger, Greidinger, Israel Greidinger, Nisan Cohen, Renana Teperberg Organizations: Financial Times, Morning, Regal, Canada's Cineplex, Eastgate, Cineworld

☆ Cineworld shareholders: Shares in Regal Cinemas' owner hit all-time low
▼ + stars: | 2023-04-11 | by ( Anna Cooban | ) edition.cnn.com time to read: +2 min

London CNN —Cineworld’s stock plummeted 36% Tuesday afternoon to an all-time low after the company said it had filed a plan to reorganize its business and shareholders would not recover any of their funds. The embattled owner of Regal Cinemas said it had submitted a final version of the plan to a US bankruptcy court in Texas. Under the plan, Cineworld’s lenders will cut its debt by $4.5 billion in exchange for equity in the reorganized company. It filed for Chapter 11 bankruptcy in the United States in September. Cineworld shares have lost 98% of their value since the company listed on the London Stock Exchange in 2007.

☆ Cineworld shares tank after Regal Cinemas owner ditches plans to sell US and UK businesses
▼ + stars: | 2023-04-03 | by ( Hanna Ziady | ) edition.cnn.com time to read: +2 min

London CNN —Shares in Cineworld plunged more than 30% Monday, hitting their lowest level since late August, after the owner of Regal Cinemas said it planned to terminate efforts to sell its US, UK and Irish businesses. The world’s second-largest movie theater chain also announced a debt restructuring plan with lenders to help it exit bankruptcy. Cineworld — which, like many cinema operators, was hit hard by the pandemic — filed for Chapter 11 bankruptcy protection in September. In addition to the United States, the United Kingdom and Ireland, Cineworld operates cinemas in Poland, the Czech Republic, Slovakia, Hungary, Bulgaria, Romania and Israel. After two rounds of closures in the United States, around 500 Cineworld theaters remain across the country.

☆ Cineworld lenders looking to oust CEO in management shake-up - FT
▼ + stars: | 2023-03-31 | by ( ) www.reuters.com time to read: +1 min

March 31 (Reuters) - The ex-CFO of Regal Cinemas is the leading candidate to replace Cineworld Group Plc (CINE.L) CEO Mooky Greidinger as lenders of the ailing cinema chain plot a management shake-up following bankruptcy proceedings, the Financial Times reported on Friday. A potential management reshuffle would probably mean Greidinger, Cineworld's CEO since 2014, would be forced to relinquish control of his third-generation family business, the report said, citing several people close to the company's top management. David Ownby was Regal's CFO for nine years until 2018 when the company was bought by Cineworld. He has been serving as an adviser to Cineworld's highest priority creditors, which are steering the bankruptcy process, the report said. Reporting by Aby Jose Koilparambil and Anchal Rana in Bengaluru; Editing by Shinjini GanguliOur Standards: The Thomson Reuters Trust Principles.

☆ Oscars 2023: Regal Cinemas is showing every Best Picture nominee for $6—Including 'Avatar 2' and 'Top Gun: Maverick'
▼ + stars: | 2023-03-02 | by ( Nicolas Vega | ) www.cnbc.com time to read: 1 min

With 10 days to go until the Academy Awards take place on March 12, Regal Cinemas is giving you one last chance to catch up on the top films of 2022. Tickets will be sold for a discounted $6, with a rotating selection of films available each day. Some films will have multiple screenings a day, while others will only be available for a single matinee or evening showing. The Regal website has a film schedule for the 10 day-event, though the availability at some locations differs from what is listed. Make sure to check your local theater's showtimes before going.

☆ Regal Cinemas owner Cineworld says shareholders will be wiped out
▼ + stars: | 2023-02-24 | by ( Olesya Dmitracova | ) edition.cnn.com time to read: +1 min

London CNN —Regal Cinemas owner Cineworld, which filed for Chapter 11 bankruptcy protection last year, said Friday that it expected shareholders to be wiped out entirely, meaning they should not expect to recover any funds from a restructuring or sale of the business. “Based on the proposals received to date, it is not expected that any sale transaction will provide any recovery for the holders of the company’s equity interests,” it said. The British company continues to operate its theaters around the world as usual, it reiterated in its statement on Friday. Last month, Cineworld announced it was closing 39 more movie theaters in the United States. The pandemic forced movie theaters around the globe to close, dealing a devastating blow to Cineworld and others in the industry, and is still affecting visitor numbers.

☆ Regal Cinemas owner says shareholders could be wiped out after a lack of successful takeover offers
▼ + stars: | 2023-02-24 | by ( Carla Mozée | ) www.businessinsider.com time to read: +2 min

Cineworld, the owner of Regal Cinemas, said Friday its shareholders may be wiped out. The warning comes as the company hasn't landed an all-cash bid to take over the entire business. Shares of Cineworld sank on Friday in UK and US trading. On Friday, shares of Cineworld sank 43% to £2.25 ($2.69) in trade on the London Stock Exchange on Friday. Regal Cinemas had about 500 locations in the US.

☆ Cineworld shares dive on reports of no bidders for UK, U.S. assets
▼ + stars: | 2023-02-22 | by ( ) www.reuters.com time to read: +2 min

Feb 22 (Reuters) - Shares of Cineworld (CINE.L) slumped as much as 22% on Wednesday after media reports said the world's second-largest cinema operator had received 40 non-binding bids, but none for its UK and U.S. assets or nearing its $6 billion secured debt load. When requested by Reuters, Cineworld did not immediately confirm details of the update it provided to the court. The reports also said the company was proposing an April 10 deadline for final bids, with an auction, if necessary, to follow on April 17. A vote on restructuring has been set for May 21, with a court confirmation hearing tentatively set for May 30. Last month, Bloomberg News reported that Cineworld has shuttered 23 theatre sites since filing for bankruptcy protection and was planning more closures.

☆ AMC Theatres shouldn't be charging more for the best seats — it should be getting rid of the empty ones
▼ + stars: | 2023-02-11 | by ( Travis Clark | ) www.businessinsider.com time to read: +4 min

AMC Theatres announced this week that it would charge more for the best seats in its auditoriums. Here's what it looks like on the AMC Theatres website for a screening at a New York City location:What the new seat pricing looks like on the AMC Theatres website. "This new initiative by AMC Theatres would essentially penalize people for lower income and reward for higher income." AMC's seat-pricing plan isn't going to help the theatrical business. Patrick Corcoran, spokesman for the National Association of Theatre Owners, told Insider in September.

☆ Movie theaters get creative with food and drink as they struggle to fill seats
▼ + stars: | 2023-02-08 | by ( Noah Sheidlower | ) www.cnbc.com time to read: +9 min

At many movie theaters, popcorn and soda appear alongside flatbreads, lobster grilled cheese and elaborate cocktails. "It is things like concessions and how that fits into a broader movie theater experience that really are things that movie theaters need to focus on and hammer in," Gallinari said. AMC Entertainment , the world's largest movie theater chain, exited its third quarter with more than $5.3 billion in debt. According to data from research firm EntTelligence, the average medium popcorn at domestic movie theaters is $8.14, while a medium drink runs for $6.20. "With movie theaters and concessions already having a reputation for being overpriced, being subject to the wills of the market in that way can really work against the movie theater's favor," Gallinari said.

☆ Sundance Movies: Brett Kavanaugh and Steph Curry Docs, "Cat Person"
▼ + stars: | 2023-02-06 | by ( Alison Brower | ) www.businessinsider.com time to read: +7 min

The Sundance Film Festival was back in person for the first time since 2020. In five days I saw eight films, and while I'm not a critic, I can affirm that not one of them was a clunker. Asked about the film's aspect ratio in an audience Q&A, Jalali said, "It was prettier that way." The bulk of the films I saw were more commercial, and four of them centered on relationships. And then there was "Cat Person," based on a 2017 New Yorker story about dating by Kristen Roupenian.

☆ The Sundance Film Festival stirs buzz, draws A-list stars, and screens movies that get you talking, but it can't hide the crisis facing independent filmmakers.
▼ + stars: | 2023-01-29 | by ( Alison Brower | ) www.businessinsider.com time to read: +6 min

The Sundance Film Festival was back in person for the first time since 2020. A-list stars like Anne Hathaway and Jason Momoa were present to promote their buzzy films. It was impossible not to feel optimistic about the state of independent film at the opening weekend of the Sundance Film Festival. In five days I saw eight films, and while I'm not a critic, I can affirm that not one of them was a clunker. At an event like Sundance, even amid some hand-wringing over the future, the excitement is contagious.

☆ Your local Regal theater could be saved, as the company looks for a buyer amid bankruptcy
▼ + stars: | 2023-01-26 | by ( Travis Clark | ) www.businessinsider.com time to read: +2 min

Cineworld is looking to sell its remaining US-based Regal locations, it said in a filing this week. The company has reached out to 30 potential buyers, including many competitors. Locations that have already been closed will not be part of the sale, a Cineworld lawyer told Insider. Those assets include US-based Regal theater locations. Cineworld said in the filing that it has reached out to 30 potential buyers, including "many" of its competitors.

☆ Regal Cinemas is closing 39 more movie theaters. Is yours on the list?
▼ + stars: | 2023-01-20 | by ( Jordan Valinsky | ) edition.cnn.com time to read: 1 min

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☆ 39 more Regal theaters are closing in the US amid bankruptcy. See the full list.
▼ + stars: | 2023-01-19 | by ( Travis Clark | Sindhu Sundar | ) www.businessinsider.com time to read: +4 min

Over three dozen Regal Cinemas locations in the US are expected to close. Cineworld detailed the plan to reject the leases starting February 15 in a new bankruptcy filing on Tuesday. Regal is the second-largest cinema chain in the US, behind AMC, with over 500 theaters. The company's plan to close locations during its bankruptcy is fairly routine. Cineworld filed for bankruptcy at a time when the larger theatrical industry is struggling to fully rebound from the pandemic.

☆ Cineworld Grapples With Box-Office Slump as It Seeks a Sale in Bankruptcy
▼ + stars: | 2023-01-05 | by ( Akiko Matsuda | Alexander Gladstone | ) www.wsj.com time to read: 1 min

Bankrupt movie-theater chain Cineworld Group PLC said it continues to miss its box-office projections due to challenging market conditions as it gears up to sell itself out of chapter 11. Joshua Sussberg, a lawyer for U.K.-based Cineworld, owner of Regal Cinemas, told Judge Marvin Isgur of the U.S. Bankruptcy Court in Houston, Texas, on Wednesday that the company’s restructuring effort since its bankruptcy filing in September has been hindered by the lackluster box-office performance.

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