Knoxville, Tenn.-based Regal, said it’s completed a $250 million capital raise to improve and digitally enhance its theaters as the box office rebounds. Construction has started with over 30 locations to be completed in 2025. The upbeat news comes as Regal’s parent Cineworld, which emerged from bankruptcy last summer, is facing the tough decision of
Regal
Eduardo Acuna, who’s kept a low profile since taking the top job at Cineworld last summer, took a bow in NYC this week to showcase the world’s largest 4DX auditorium at the renovated Regal Times Square. The exhibitor partnered with CJ 4DPLEX, a cinema tech innovator of cutting-edge formats like this one that uses immersive
Regal parent Cineworld has officially emerged from bankruptcy, unveiling five new board members and a strengthened balance sheet. The chain, which was flattened by Covid and high debt, filed for Chapter 11 in the Southern District of Texas last September. It exits today having reduced that debt by about $4.53 billion and raised $800 million
UPDATED, 07:30 a.m.: Cineworld Group has officially entered administration, following an application at the High Court in London. The administration order applies only to Cineworld Group and not to any of its operating companies or subsidiaries such as Regal Cinemas in the U.S. or Picturehouse Cinemas in the UK. Following last week’s announcement, Cineworld also
CEO Adam Aron said a court ruling Friday that makes it harder for AMC Entertainment to raise cash has serious implications for the circuit’s financial stability — a blowout ‘Barbenheimer’ weekend at the box office and surging share price notwithstanding. “AMC must be in a position to raise equity capital. I repeat, to protect AMC’s
As Regal parent Cineworld prepares to exit Chapter 11 this month, rumors are heating up over who will emerge as the giant theater chain’s new chief executive, with reports Monday pointing to Eduardo Acuna of Cinepolis. Longtime Cineworld CEO Moody Greidinger has a consulting contract during a transition period but isn’t likely to stay in
A bankruptcy court judge today gave a green light to a reorganization plan for Regal parent Cineworld, the key step needed for the giant movie theater chain to emerge from bankruptcy next month. At a hearing, in an order from the bench, Judge Marvin Isgur of U.S. District Court for the Southern District of Texas
Big cinema advertising platform National CineMedia said today its plan of reorganization has been confirmed by a judge in United States Bankruptcy Court for the Southern District of Texas. The company filed for Chapter 11 in April. It now expects to emerge in August or September. The plan allows the company to eliminate debt and
Cineworld said on Monday that as part of its proposed restructuring following Chapter 11, it expects to file for administration of its listed entity Cineworld plc in the UK but that its operating companies will continue business as usual without interruption. Administration in the UK is an insolvency process, similar to a bankruptcy process. The world’s second biggest
In-theater advertising firm National CineMedia announced a special shareholders meeting to vote on a reverse stock split — a move that boosts the price of a company’s shares — as it risks being delisted by the Nasdaq market and works through a voluntary Chapter 11 reorganization. The company, which was founded and is largely owned
Executives of Regal parent Cineworld, led by CEO Mooky Greidinger, have agreed to a payout in the $30 million range, Deadline has confirmed, in the event that they leave leave the company as it prepares to exit Chapter 11. Documents filed earlier this year during ongoing bankruptcy proceedings in the Southern District of Texas indicated
UK-based global theater chain and parent of Regal Cinemas said overnight it expects to emerge from Chapter 11 in July. The news comes as nearly 100% of its legacy lenders agreed to an amended and restated restructuring agreement and backstop that have been months in the making. There had been some holdouts. The giant exhibitor
AMC Entertainment chief executive Adam Aron saw compensation last year totaling $23.7 million, up 25% from $18.9 million in 2021, according to an SEC filing Friday. That included a base salary of $1.5 million, a $6 million cash bonus, and stock awards valued at $16.2 million. “Despite challenging industry and economic conditions, as has been
Mooky Greidinger, chief executive of Regal parent Cineworld, of the world’s two biggest chains and currently in the process of emerging from bankruptcy, made an appearance on the Cinemacon stage today saluting Regal employees and giving a shout-out to Lionsgate and Hunger Games. At the last studio presentation of the week, Lionsgate rolled out the
Regal parent Cineworld has decided to terminate the marketing process for its businesses outside of the U.S., UK and Ireland. Although it received offers from “a number of prospective counterparties,” the proposals “did not meet the value level required by the group’s lenders,” the exhibition giant said today. The so-called “rest of world” businesses include
Regal took a beat from closing theaters, announcing today it’s entered a lease agreement with Onni Group to operate the former ArcLight theatre at The Paseo in Pasadena. The 14-screen theater was shuttered by Covid in March of 2020 and never returned to business. Regal will be announcing details soon including promotional offers and an official opening
The nation’s biggest movie theater advertising network National CineMedia said tonight it’s filed a voluntary Chapter 11 petition in U.S. District Court in the Southern District of Texas – where one of its biggest shareholders and customers, Regal parent Cineworld, has just presented a restructuring plan to emerge from bankruptcy itself. Cineworld filed in
Further to its April 3 announcement that it had reached a conditional agreement with lenders to emerge from Chapter 11, Regal owner Cineworld today submitted its reorganization plan to the U.S. Bankruptcy Court for the Southern District of Texas. In a filing to the London Stock Exchange where its shares are traded, the exhibition giant
Regal owner Cineworld has entered into a restructuring support agreement and a backstop commitment agreement with lenders that will, if approved, see it emerge from bankruptcy. The exhibition giant also noted today that it has received non-binding proposals for some or all of the group’s assets but determined that absent an all-cash bid significantly in
National CineMedia said today it’s negotiated a second extension of the grace period on interest payments originally due Feb. 15. A one-month grace period for a payment said to be about $6.6 million ended March 15, when the company announced lenders had agreed to another 17 days. Big ratings agencies Moody’s and S&P Global declared
An attorney for bankrupt movie theater chain Cineworld said today it has “several” interested parties eyeing its business in “rest of world” — meaning Europe outside the UK, and Israel — but nothing pending for the entire company, or, it seems for Regal in the U.S. Final bids are due April 10, said Joshua Sussberg
Bankrupt Regal parent Cineworld said it had multiple bids for all or some of its assets in initial expressions of interest due last week. Its business includes Regal in the U.S.; Cineworld and Picturehouse in the U.K. and Ireland; and “rest of world” cinemas in Central and Eastern Europe, and Israel. Cineworld attorney Joshua Sussberg
UPDATED with quotes from AMC & Cineworld CEOs: This is a big deal: For the first time, all three big exhibitors are on board with releasing a major Netflix title — that being the Rian Johnson-directed sequel Glass Onion: A Knives Out Mystery, the franchise that the streamer snapped up for nearly $400M as Deadline
Cineworld plans to file its reorganization plan by Oct. 31, an attorney for the giant chain said today at a hearing. It also won’t be forced to state its case in a Canadian appeals court next month for reneging on a merger agreement with Cineplex. Judge Marvin Isgur of the Southern District of Texas, who
With Hurricane Ian en route to hit Florida’s Gulf Coast on Wednesday morning, Deadline hears that nearly 80 movie theaters have closed throughout Tampa, Orlando, the Panhandle and southwestern part of the state. This includes such properties as the spruced-up Regal Naples, the Regal Hollywood 18, the AMC Veterans Expressway 24 in Tampa, the AMC
In response to recent speculation, Cineworld has provided an update to its August 17 announcement regarding an evaluation of strategic options to both obtain additional liquidity and potentially restructure its balance sheet through a comprehensive deleveraging transaction. Reiterating that Cineworld’s theaters, including the Regal chain in the U.S., are “open for business as usual and
Regal Cinemas is taking over the cinema space occupied by the Arclight Sherman Oaks in Sherman Oaks, CA. The L.A. Times reported that Cineworld-owned Regal Cinemas signed a lease yesterday with the mall landlord Douglas Emmett Inc. Regal will reportedly sink $10M into renovating the cinemas bringing it up to date on par with its
EXCLUSIVE: Cineworld has concluded a deal with Disney to show the studio’s movies at its Regal chain in the U.S. and its cinemas in the UK, Deadline has learned. This now means the world’s No. 2 exhibitor has new agreements in place with three of the major studios: Disney, Warner Bros and Universal, the latter
Cineworld CEO Mooky Greidinger said today that the No. 2 global exhibitor is “actively negotiating terms and structures of evolving theatrical windows with our studio partners.” He made the comment on an earnings call after Cineworld reported 2020 results which included its first-ever annual operating loss ($2.26B) as the industry has been greatly impacted by
Cineworld Group today reported its first-ever annual operating loss with the figure dropping over $2.98B in 2020 as compared to 2019. The previous year had seen profits of $724.7M while the period ended December 31, 2020 was at a negative $2,257.7M. The results were severely impacted by the Covid pandemic which forced the group to