National CineMedia isn’t a movie chain but it’s the nation’s largest cinema advertising network and it saw revenue plunge by more than 96% last quarter as theaters were shuttered for the entire per…
reports Thursday. Earlier today, ratings agency S&P downgraded the nation’s largest exhbitor after it concluded a restructuring that involved a distressed debt exchange but could will keep it going to the spring even in the worst case scenario.
The company is hosting a conference call at 5 pm ET to discuss its numbers and outlook as best it can. industry “has historically fared well during recessions, and management remains optimistic, though cannot guarantee, that the founding members and network affiliates will rebound and attendance figures will benefit from pent-up social demand as state and local restrictions and other social distancing orders subside and people seek togetherness with a return to normalcy.”
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