AMC shares plunged today despite record quarterly earnings as the giant theater chain filed with SEC to sell up to $350 million worth of stock — offsetting any bump that could been expected from solid financials and an end to the actors’ strike. Shares were trading up this morning pre-market but reversed course when the
SAG-AFTRA
Warner Bros. Discovery’s third quarter was mixed with ‘Barbie’ coin and free cash flow beloved by Wall Street offset by sluggish advertising and the impact of the actors’ strike on the one of the industry’s biggest content creators. Streaming, which turned profitable in the first quarter ahead of most rivals, but lost $3 million in
Imax CEO Rich Gelfond predicts the long SAG-AFTRA strike will settle relatively soon. If, instead, it drags on, theater chains will face a rocky second half of 2024 but he sees the large-format exhibitor standing apart. “An exhibitor who programs a multiplex needs lots of movies,” he told Wall Streeters after Imax reported a record
Big media shares, which rose in pre-market trading Monday, opened lower at the bell and are still trending down midday after the Writers Guild reached a tentative deal with studios to end their prolonged strike. Renewed market jitters over inflation, interest rates and a potential government shutdown appeared to have offset relief that Hollywood is
Sony Pictures Entertainment chairma-CEO Tony Vinciguerra figures Taylor Swift: The Eras Tour could gross $200 million, calling it a “massive, unexpected rescue” for movie theaters as Hollywood strikes have led to shifting release dates and slowed the production pipeline, casting a damper on this year’s vigorous box office recovery. “The exhibitors are our friends there’s
In a contorted legal case, a Delaware judge today struck down a settlement that would have helped AMC Entertainment move ahead with steps to raise cash and shore up its stock. “To cut to the chase, the settlement cannot be approved as submitted,” Judge Morgan Zurn of Delaware Chancery Court wrote in a 69-page opinion
What was it W. B. Yeats wrote, that line Joan Didion lifted and twisted in her essay “Slouching Towards Bethlehem,” about West Coast chaos in 1967? Things fall apart; the center cannot hold. That’s how it felt on Thursday, a few minutes before lunch with some seasoned film executive-friends at the Academy Museum (Salad Niçoise
Expressing solidarity with Hollywood actors on Day 1 of the SAG-AFTRA strike, specialty distributors polled were anxiously juggling opening weekend Q&As and movie premieres without talent. They were trying to clarify which actors on what international productions are SAG-AFTRA, bound by the guild, or neither. And, for those involved in production, trying to pin down
Six weeks into the writers strike, the early returns on summer studio films have been some of the best since Covid brought the exhibition business to a screeching halt. But if SAG-AFTRA members trade lines of dialogue for picket lines beginning July 1, the business might well look like pandemic redux. The domestic box office