Cineworld
Theater Chains to Studios: Please Send Us More Movies
After a disappointing late summer and fall, major movie theater chains pinned hopes on a run of tentpoles that could help prop up the box office — and their bottom lines — from Black Adam to Black Panther: Wakanda Forever and Avatar: The Way of Water. But, one by one, in reporting fourth-quarter earnings in […]
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Cineworld Receives 40 Bids From Potential Buyers for Non-U.S. Assets
Regal Entertainment Group-parent Cineworld has received around 40 non-binding bids from potential buyers, but with none showing interest in the exhibition giant’s UK or U.S. assets or coming near to covering a $6 billion debt load. On Tuesday, during a virtual status session before Judge Marvin Isgur of the U.S. Bankruptcy Court in Houston, Joshua Sussberg, […]
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Regal Owner Cineworld Says It’s Been Approached by Multiple Buyers Amid Bankruptcy Process
Exhibition giant Cineworld, which filed for Chapter 11 protection in the U.S., has told a virtual status conference that the company and its creditors are moving toward a court-directed settlement of the bankruptcy process. On Wednesday, Joshua Sussberg, a lawyer for U.K.-based Cineworld, owner of the Regal Entertainment Group, told Judge Marvin Isgur of the U.S. Bankruptcy Court in Houston that […]
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Regal Closing Once-Busy Union Square Movie Theater in NYC as Bankruptcy Proceeds
The fallout from Regal Cinemas’ bankruptcy proceedings continues. Parent company Cineworld has filed court papers revealing the imminent closure of 39 Regal locations across the United States — including the once-bustling Union Square Stadium 14 in New York City and the upscale Sherman Oaks Galleria cinema in Los Angeles. The latest cost-cutting measure is expected […]
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Cineworld Denies Talks With AMC Theatres, Will Focus on Group Sale Rather Than Split Assets
Bankrupt exhibition giant Cineworld, which filed for Chapter 11 in the U.S. in September, has said it is holding out for a buyer for its entire business, denying reports that it has been looking to sell off individual assets. It also clarified that there had been no discussion with AMC over the sale of its […]
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AMC Theatres Held Talks With Cineworld Lenders Over “Potential” Acquisition
AMC Theaters held discussions with some Cineworld lenders about a “potential strategic acquisition” of unspecified theaters in the U.S. and Europe. News of the talks were contained in an SEC filing issued by AMC on Tuesday, and follows the Sept. 7 Chapter 11 bankruptcy filing from Cineworld, the world’s second-largest movie theater company and owner […]
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Regal Owner Cineworld Bankruptcy Sparks Breach of Contract Suit from National CineMedia
Movie theater advertiser National CineMedia is suing Regal Cinemas for allegedly exploiting parent company Cineworld’s bankruptcy to breach its advertising deal with the company. The in-cinema advertising network says Regal is looking to rewrite the agreement for better terms, enter into a new agreement with a competitor or bring in-house advertising services. In a lawsuit […]
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Regal Owner Cineworld: Admissions to Remain Below Pre-Pandemic Levels in 2023 and 2024
Exhibition giant and Regal owner Cineworld Group, which recently filed for Chapter 11 bankruptcy proceedings in the U.S., predicted Friday that cinema admissions in 2023 and 2024 would remain below levels recorded before the COVID-19 pandemic. Third-quarter admissions have been “below expectations,” with the fourth quarter “anticipated to be stronger, supported by the scheduled […]
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As Regal Owner Cineworld Goes Chapter 11, Studios Gauge Hollywood Fallout
The Chapter 11 bankruptcy filing Sept. 7 from Cineworld, the world’s second-largest movie theater company and owner of Regal Cinemas in the U.S., didn’t come as a surprise to close observers. For many of its Hollywood studio partners, it was almost a relief. “Look back to the late ’90s, early 2000s,” MKM Partners analyst Eric […]
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Regal Owner Cineworld Granted Access to up to $785M in Financing
A U.S. bankruptcy court has granted movie theater giant Cineworld Group access to up to $785 million in financing, with the company saying that is “expected to provide sufficient liquidity” for it “to meet its ongoing obligations.” Cineworld, which operates the Regal cinemas in the U.S., and certain of its subsidiaries filed for Chapter 11 […]
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Regal Owner Cineworld Confirms Chapter 11 Bankruptcy Filing Among “Strategic Options”
Cineworld Group, the owner of Regal Cinemas in the U.S., has confirmed that filing for Chapter 11 bankruptcy protection is among the “strategic options” it is considering as the company grapples with lower admissions and a limited film slate. The London-based company, the world’s second-biggest theatrical chain, was reacting to speculation following a Wall Street Journal report […]
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Report: Regal Owner Cineworld Prepares for Chapter 11 Bankruptcy Filing in U.S.
Cineworld Group, the owner of Regal Cinemas, is preparing to file for Chapter 11 bankruptcy protection in the U.S., the Wall Street Journal reported on Friday. Executives at Cineworld in a statement to THR said Cineworld and Regal theaters remain open for business as usual. And they reiterated an Aug. 17 statement that indicated the […]
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