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Top related persons:
Eric Foss - 2 Eduardo Acuna - 2 Yadarisa - 2 Cineworld - 2 Eva Mathews - 2 Warner Bros Ann Sarnoff - 1 Foss - 1 Nivedita - 1
Top related locs:
Bengaluru Cinema City Britain British London U.S United States Europe
Top related orgs:
Cineworld - 3 U.S - 3 Thomson - 3 Cinema - 2 AMC Entertainment - 1 Warner Bros - 1 Pepsi - 1 Cinema City - 1

Search resuls for: "Cinema City"


4 mentions found


☆ Cineworld emerges from Chapter 11 bankruptcy
  + stars: | 2023-08-01 | by ( ) www.reuters.com   time to read: +1 min
Aug 1 (Reuters) - Cineworld Group (CINE.L) said it has emerged from Chapter 11 bankruptcy after nearly 11 months, coming out with lower debt and a new slate of management and board. The world's second largest cinema chain operator behind AMC Entertainment (AMC.N) said it has appointed former Chair and CEO of Warner Bros Ann Sarnoff to its board, along with four other members to join new Chairman Eric Foss and CEO Eduardo Acuna. The movie chain operator and owner of brands such as Regal, Cinema City, Picturehouse and Planet had filed for U.S. bankruptcy in early September to restructure its massive debt. The "New Cineworld" has fixed its balance sheet after cutting debt by $4.53 billion, raising about $800 million in new equity capital and securing new debt financing of about $1.71 billion, the company said. Reporting by Yadarisa Shabong in Bengaluru; Editing by Nivedita BhattacharjeeOur Standards: The Thomson Reuters Trust Principles.
Persons: Warner Bros Ann Sarnoff, Eric Foss, Eduardo Acuna, Foss, Yadarisa, Nivedita Organizations: Cineworld, AMC Entertainment, Warner Bros, Cinema, U.S, Thomson Locations: Cinema City, Bengaluru
☆ Cinepolis exec Eduardo Acuna to become Cineworld CEO
  + stars: | 2023-07-13 | by ( ) www.reuters.com   time to read: +2 min
July 13 (Reuters) - Cineworld Group (CINE.L) said on Thursday Eduardo Acuna, who runs the Americas operations of Mexican theatre operator Cinepolis, will become its CEO when the company emerges from bankruptcy proceedings, expected this month. The group, which filed for U.S. bankruptcy protection in September, said lenders had agreed to appoint Acuna as CEO of the newly formed parent company after its restructuring plan becomes effective. Cineworld had faced discontent from shareholders over executive pay in 2021, including bonuses to the CEO and his brother and deputy chief Israel Greidinger. Acuna, who has been with Cinepolis since 2005, previously held roles at McKinsey and Co and Goldman Sachs. Cineworld added that it "understands that a selection process for the remaining members of the new company's board is ongoing".
Persons: Eduardo Acuna, Acuna, Eric Foss, Mooky Greidinger, Greidinger, Cineworld, Israel Greidinger, Goldman Sachs, Eva Mathews, Yadarisa, Shinjini Organizations: Cineworld, U.S, Pepsi, Cinema City, Regal Entertainment, Financial Times, McKinsey, Thomson Locations: London, Britain, U.S, British, Bengaluru
☆ Cineworld to file for administration in UK as part of restructuring
  + stars: | 2023-06-26 | by ( ) www.reuters.com   time to read: +2 min
June 26 (Reuters) - Embattled cinema chain operator Cineworld Group (CINE.L) on Monday said it will file for administration in Britain and suspend trading on the London Stock Exchange next month, as part of a restructuring plan to reduce its massive debt. The proposed restructuring will involve the release of about $4.53 billion of the group's debt, a rights offering to raise gross proceeds of $800 million and the provision of $1.46 billion in new debt financing, Cineworld said. It opted for a restructuring plan that effectively wipes out existing shareholders' equity. The company continues to expect to emerge from Chapter 11 bankruptcy protection in July, having said in May that its proposed debt restructuring had the backing of most of its lenders. However, the restructuring plan would still not provide for any recovery for its existing shareholders, Cineworld added.
Persons: Cineworld, Eva Mathews, Dhanya Ann Thoppil, David Goodman, Emelia Organizations: Cineworld, London Stock Exchange, U.S, Regal, Cinema, Thomson Locations: Britain, British, United States, Cinema City, Europe, United Kingdom, Republic of Ireland, Bengaluru
☆ Cineworld creditors mull sale of east European theatres -Bloomberg News
  + stars: | 2022-12-02 | by ( ) www.reuters.com   time to read: +1 min
Dec 2 (Reuters) - Cineworld Group PLC's (CINE.L) lenders have held talks on breaking up the bankrupt cinema chain and selling its eastern Europe operations, Bloomberg reported on Friday. The cinema chain operator announced a bankruptcy settlement with its landlords and lenders on Oct. 31, and also agreed to explore a potential sale of its business and allow creditor input on its business plan. Cineworld filed for Chapter 11 bankruptcy protection in Texas on Sept 7. It cited difficult conditions for movie theaters, as well as high debt stemming from its $3.6 billion purchase of Regal as reasons for its bankruptcy. Reporting by Jyoti Narayan in Bengaluru, editing by Deepa BabingtonOur Standards: The Thomson Reuters Trust Principles.
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