Cinemark CEO Mark Zoradi weighed in this morning on all the noise that Universal and AMC stirred up last week with their plan to crunch the theatrical window to 17 days. “Consistent with our past practices, Cinemark does not comment on the actions of our competitors. That said we believe an exclusive theatrical window is critically
Cinemark
Imax shares shot higher Wednesday as Goldman Sachs initiated coverage of the large-format leader with a “buy” rating, saying it’s well positioned to take share in the current environment and has ample cash to navigate a potentially turbulent recovery. The stock was up more than 16% on a day of solid gains for exhibition that
Following big circuits AMC and Regal, Cinemark has reversed its face mask policy for guests as the chain plans its reopening from the COVID-19 shutdown. “For the safety of our guests, employees and communities, Cinemark will require that face masks be worn throughout our theatres. Masks may be removed when eating and drinking inside the
Stock plunged with showbiz knocked hard as COVID-19 infections surged, three governors issued travel restrictions and investor hopes for a recovery fizzled. The DJIA plunged more than 700 points, or 2.7%, its worst showing in weeks. The S&P 500 and Nasdaq were both down sharply. Media and entertainment stocks, sensitive to advertising, film and TV
EXCLUSIVE: Steven Spielberg’s 1993 movie Jurassic Park was No. 1 for the fourth time in its release history this past weekend as movie theaters tried to have a semblance during the COVID-19 pandemic over what is typically a big moviegoing weekend, Father’s Day. While 2020 fare like Universal/Dreamworks Animation’s Trolls World Tour had been leading at a
Cinemark CEO Mark Zoradi said the chain is in “active discussions” with Universal over windows but choses to do it privately instead of entering “the media fray” that exploded when AMC Entertainment threatened not to show Universal films. “I know that Universal is committed to the theatrical business” for big films like Jurassic World 3:
Editors’ Note: Deadline’s Reopening Hollywood series focuses on the complicated effort to get the industry back on its feet while ensuring the safety of everyone involved. Our goal is to examine numerous sides of the business and provide a forum for leaders in Hollywood who have a vision for how production could safely restart in the era
While Cinemark CEO Mark Zoradi has already informed investors about the circuit’s multi-phase re-opening which begins this Friday with five of its theaters in the Dallas- Fort Worth area, the exhibitor today unveiled more details about its enhanced COVID-19 safety protocols. Cinemark’s reopening will now take place over four phases with more locations reopening on
While Cinemark CEO Mark Zoradi continued to champion the theatrical window this morning on the chain’s Q1 earnings call, he also told investors and financial analysts that when it comes to smaller and lower-grossing titles, “we’re open to talking with studio partners about alternatives we can consider.” “I don’t want to give the wrong impression,”
Cinemark CEO Mark Zoradi remained confident this morning on the exhibitor’s Q1 call that Warner Bros.’ Christopher Nolan movie Tenet will remain on track and open on its planned July 17 release date. While Solstice Studios’ Unhinged will be the first new wide release movie in those theaters that are open on July 1, Tenet with
Tenedora de Cines, owner of exhibition giant Cinepolis, has acquired 2.8 million shares, or 2.4%, of U.S exhibitor Cinemark, according to an SEC filing Wednesday. Another 17 individuals who are executives and part of the company’s founding family have acquired various smaller positions that total 6.1%. An SEC filing is required in cases where passive
Cinemark Holdings, the nation’s third largest exhibitor will delay reporting its financials for the quarter ended in March. It said in an SEC filing Friday that it plans to report by June 11. The company said it was impossibe to get the numbers and paperwork ready in time given the enormous disruption to its business
Despite Texas Gov. Greg Abbott permitting movie theaters to re-open on May 1 in his state numbering nearly 30 million, big movies chains like AMC and Cinemark, which is located in Plano, TX, are still eyeing mid-summer re-opening, not only out of safety, but also due to the lack of new, fresh studio content. Abbott
The nation’s third largest exhibitor, Cinemark, said Monday it’s selling $250 million worth of debt securities – senior secured notes – and will use the net proceeds of the proposed offering for general corporate purposes, including further increasing its liquidity. Chains are in a massive cash crunch as movie theaters remain closed since mid-March due
Cinemark CEO Mark Zoradi, who exhibition chain like the rest of the industry is shut down due to the ongoing coronavirus pandemic, earned $6.3 million in total compensation for 2019, up from $5.2 million the year before, the company said Friday in its annual proxy statement filed with the SEC. The year-over-year gain stemmed from
With the closure of movie theaters nationwide out of safety during the coronavirus, layoffs have been rampant, with the Big Three exhibitors contending with these atrocious times in varying degrees of severity. Word began to spread last week among distribution folks that Regal had been the most acerbic out of the three chains in the
Despite Senate Democrats blocking the near $2 trillion stimulus package intended to rescue the U.S. economy during the coronavirus crisis, the National Association of Theatre Owners chief John Fithian is “hopeful” that a bipartisan compromise will be reached in the near future. “They’re not at an impasse,” Fithian told Deadline Sunday. “This is just part
Cinemark is joining the other major U.S. exhibition circuits in shutting its doors in the face of the growing coronavirus pandemic. The chain said Tuesday it is closing all 345 of its U.S. theater effective Wednesday. “Through these absolutely unprecedented and evolving times, one thing will not change, and that is Cinemark’s dedication to its
What we’re about to inform you about cannot be read into as an indication of long-term trends, or even short-term. The state of exhibition and the domestic box office is changing by the hour in the current coronavirus climate and by tomorrow or even before next Friday we could be looking at a different theatrical
The Cinemark Century Huntington Beach and XD cineplex reopened Friday after closing yesterday evening when it received word of a “credible threat” surrounding the movie Joker. Cinemark said Friday it would not be making a statement about the closure at this time, saying the Huntington Beach PD will have more information later in the day.
EXCLUSIVE: Before Hurricane Dorian reaches landfall sometime tonight, some theaters on the central east coasts of Florida have already boarded up including a slew of AMC, Regal and Cinemark multiplexes. Most of these sites aren’t expected to re-open until Tuesday and Wednesday, in time for New Line’s It: Chapter Two which starts previews on Thursday night. Weather