Cineworld, which last month closed hundreds of its movie theaters in the U.S. and Britain because of the coronavirus, has secured more than $750 million of new financing that it hopes will see it through the pandemic.— said its finances would be bolstered over the coming months largely from a new debt facility as well as an extension of an existing credit facility.in the U.S.
“We look forward to resuming our operations and welcoming movie fans around the world back to the big screen for an exciting and full slate of films in 2021,” said Mooky Greidinger, Cineworld’s chief executive.The group’s base-case scenario assumes a reopening of cinemas no later than May. In the event of a further delay, it said it expected to retain sufficient liquidity to remain in business for a number of months but said that that might require support from lenders.
Despite the caveat, news of the new financing arrangements sent shares in the company, which is Britain’s largest exhibitor, soaring 17% in London.Get the day's top stories on Hollywood, film, television, music, arts, culture and more.The hope is that the new money will help the company ride out the pandemic until vaccines are available.
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Regal Owner Cineworld Posts $3 Billion Loss, Raises Cash, But Warns 'Material Uncertainty' RemainsThe cinema giant, led by CEO Moshe Greidinger, eyes a reopening of its U.K. sites from May, but reiterates continued uncertainty 'around its ability to continue as a going concern.' I do think there is still a big market for cinemas. Its a great date & night out. You cant experience films at home in same way. I do think it will be even more blockbuster generic films made for that market which is the real blow to the film industry. More sequels/franchises etc I'll be rooting for them. Avatar 2 & 3. John Wick 4 & 5. Jurassic Park/World sequels. All Marvel hero films. Are but a few reasons to see the spectacle on a big screen. The only issue is antisocial behavior ie. feet on backs of chairs, people taking selfies, using phones.
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Regal Owner Cineworld Secures New $450 Million Debt FacilityCineworld, owner of Regal and the second world's largest cinema group, secures a new $450 million debt facility to keep the business afloat amid the COVID-19 pandemic People of the world. I'm asking for help, my son Artem needs urgent heart surgery. He has a heart defect. There's less and less time left. If you can help, go to my profile information there. I beg you on your knees, help save your son Get ready for $50 popcorn prices Beautiful
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Regal Parent Cineworld & Disney Agree Theatrical Deal For U.S. & UKEXCLUSIVE: 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 ex…
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Regal Owner Cineworld Reacts To Warner Bros HBO Max Seismic Shakeup; Believes Studio Will Seek Agreement On “Proper Window And Terms” When U.S. Cinemas ReturnCineworld Group, owner of Regal Cinemas in the U.S. and the world’s second largest exhibitor, has reacted to Warner Bros’ bombshell Thursday announcement that its entire 2021 film slate will debut … Movie theatres are dead. Yeah, hard for them to make a strong case when their theaters are shut down across the country In other words, they want some $$$ to shut up
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