AMC Entertainment saw revenue plunge to $18.9 billion for the second quarter ended from in June from $1.5 billion the year before as it swung to the red, no surprise for the nation’s – and world’s — largest theater chain, that saw most locations shuttered completely for the entire three months. The company swung a
Exhibition
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
The CEO of the nation’s fourth-largest exhibitor warned studios not to “leave a good party in pursuit of a bad one” but called the debate over PVOD overblown. Greg Marcus, chief of Marcus, said consumers are likely to drift away from watching video-on-demand relesaes when things normalize post-pandemic. “The market for PVOD may not be
Right now Universal and AMC are looking like saints in the exhibition business after taking a kicking in the teeth by rival circuits for their controversial deal last week to crunch the theatrical window to 17 days with an option for PVOD thereafter. Disney’s announcement after the market closed to bring Mulan to their 60.5M Disney+
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
It’s a volatile time in our country. We are divided and there’s an extreme sense of civic unrest. As hopeless as many of us feel, there are heroes on the front lines who are protecting our constitutional freedoms when it comes to abortion rights, immigration rights, LGBTQ rights and voting rights — and those heroes
The hope for NBCUniversal CEO Jeff Shell in the studio’s new unprecedented 17-day theatrical window collapse-PVOD deal with AMC Theatres is to make more money in the post theatrical windows which have waned in recent years. “Movies are our lifeblood,” said the NBCUniversal pro-PVOD exec, “Over the last couple of years, it’s become more increasingly
EXCLUSIVE: Those in town assuming that one of the other big exhibition circuits will fall in line with AMC, and seek their own 17-day theatrical window-PVOD deal with Universal, will soon realize that it will be a cold day in hell. Cineworld CEO Mooky Greidinger, who oversees the world’s second largest chain, exclusively tells Deadline
Update: Solstice Studios is looking to release Unhinged in August now with AMC reopening next month, but they’re not scheduling a definite date yet as I understand. They want to wait and see where Warner Bros.’ Tenet lands and if Disney moves Mulan off Aug. 21 (some sources believe the latter won’t happen). It would not be shocking if Tenet begins its
EXCLUSIVE: We’ve just heard that Cineworld, in response to the recent changes on the theatrical release schedule with Tenet, is reopening their U.S. circuit Regal, starting Aug. 21. “Welcoming theatergoers back to our cinemas will be a celebration for not only our team and our industry, but most importantly for the fans who have been
In or around 1976, I caught a forlorn moment near New York’s Bleecker St. It was early morning. The sun was just up. Two ragged guys were shuffling toward me on the sidewalk, when one offered the other a bottle in a bag. But the drink was declined. “I guess I lost my taste for
Disney is no longer releasing Mulan on Aug. 21 and is unsetting the movie for the time being. Oy, just when AMC was looking to turn the lights back on with a big movie in pockets of the country. I understand that the No. 1 industry leader at the global box office isn’t waiting to see where
In the wake of Disney pushing Avatar 2 from Dec. 17, 2021 to Dec. 16, 2022; Sony is taking advantage of the opportunity and putting its Spider-Man: Far From Home sequel there. Remember, that’s a continued co-production between the Culver City, CA lot and Disney. The Far From Home sequel becomes the sole wide entry on its new date.
UPDATED, 10:43AM: STX’s Greenland is now going to Sept. 25 stateside from its Aug. 14 release date in the wake of several major studios hitting pausing and delaying their event films. The Gerard Butler movie will debut first offshore –which is great news– in Belgium (July 29), France (Aug 5) and Scandinavia (Aug 12). STX/Miramax’s The Gentlemen was an
Despite AMC theatres saying that they’d reopen in mid-to-late August this morning, Orion made a sudden announcement that they’re taking their prequel Bill & Ted Face the Music out in a select theatrical-PVOD strategy. This is akin to the distribution strategy taken recently by Universal recently with Trolls World Tour and Focus Features titles Irresistible and The High Note (King
Netflix has set a Oct. 16 streaming date for Aaron Sorkin’s The Trial of the Chicago 7, its $56M pickup from Paramount, in what looks to be the first of its 2020-21 awards season contenders. Paramount, which first had the movie, was eyeing a fall platform release, initially with a limited debut of Sept. 25,
As expected, Chinese authorities have given the go-ahead for cinemas in Beijing to reopen this coming Friday. That’s also when the first new Hollywood titles will hit the market, including Dolittle and Bloodshot. Only cinemas in the capital’s low-risk areas will be able to resume operations — and with strict sanitary measures in place, state
EXCLUSIVE: In a weekend where Warner Bros.’ Christopher Nolan’s Tenet was expected to reopen the major circuits, Disney’s reissue of 2017’s Beauty and the Beast led all titles with an estimated $467K at 527 locations. Disney/Marvel’s Iron Man was second with $430K at 462 sites. Beauty and the Beast ranked No. 1 in its first weekends of the box office, opening
Updated, July 20: In the wake of Warner Bros. moving Tenet temporarily off the schedule, and the news being exactly unclear as to when theaters reopen, Sony is temporarily undating their Selena Gomez-executive produced romantic comedy Broken Hearts Gallery. The intent is for the film to still go theatrical –not PVOD– but I hear the studio is in a wait-and-see
Imax China has expanded its decade long partership with Wanda Film Co. with a twenty-theater agreement that calls for Wanda to upgrade Imax systems in ten existing locations in major cities and install the technology in ten new ones, the companies said Thursday, as China prepares to reopen its shuttered theaters starting July 20. The
Cowen analyst Doug Kreutz downgraded Walt Disney shares Thursday, reduced earnings estimates and cut its price target on the stock anticipating a more prolonged impact on parks and resorts as the spread of COVID-19 accelerates in the U.S. Walt Disney World reopened at limited capacity last weekend amid the surge. Kreutz said he thinks there’s
UPDATED, July 17: Lionsgate said Friday that Roadside Attractions’ romantic drama The Secret: Dare To Dream, starring Katie Holmes and Josh Lucas, will be released on Premium Video on Demand on July 31. In March, the pic based on based on Rhonda Byrne’s 2006 global bestselling self-help book, had to postpone its April 17 theatrical
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
EXCLUSIVE: [REC], the 2007 Spanish found-footage horror movie that grossed $32.5M off a minimal budget, is getting a special re-release in the 4DX format, becoming the first Spanish non-CGI title to be adapted into the technology. 4DX, originally developed by South Korean company CJ, augments a film experience with practical effects such as motion seats,
UPDATED with details of restructuring: AMC Entertainment Friday announced a sweeping restructuring that will bring in $300 million in fresh coin, reduce debt by as much as $630 million and lower cash interest expense by up to $200 million. The debt restructuring agreeement, anticipated by Deadline Thursday, will keep the chain running through spring even
EXCLUSIVE: The nation’s largest theater chain AMC Entertainment is finalizing a deal with bondholders that would slash debt by up to $600 million, bring in $200 million in fresh cash and give it a lifeline into 2021, Deadline has learned. A $500 million bond sale in April as the coronavirus kicked the nation’s economy into
EXCLUSIVE: Odeon Cinemas, the AMC-owned chain which is the UK’s largest cinema operator by number of sites, has decided to slow down its reopening plans amid ongoing coronavirus disruption and a film slate that is seeing major titles continue to shift back. The chain reopened an initial 10 sites on July 4, which was the
EXCLUSIVE: Last year, Sony ruled the Independence Day box office frame with Marvel’s Spider-Man: Far From Home, and this year the studio again can tout that it won the holiday period with their reissue of the 1984 classic Ghostbusters, which grossed $550,000 over the three-day weekend, and $656K since its re-opening July 1. And if you
Editors Note: Journalist-turned-filmmaker Rod Lurie just oversaw the release of The Outpost, an adaptation of a book by CNN host Jake Tapper on the courageous stand made by a small group of U.S. soldiers against hundreds of Taliban fighters in Afghanistan. Films are often graded by box office grosses, something that has become a meaningless
Talk about box-office drama. As the July 4 weekend unwinds, IFC’sThe Truth might be slugging it out with Homewrecker from Dark Star and The Outpost from Fathom for the honor of ranking somewhere in the 300s, near IFC’s own Wiener-Dog, among all-time Independence Day performers. (Who can say for sure, as release dates have become
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