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AMC, the world’s largest theater chain, has hired attorneys to help restructure its mountain of debt as the company’s credit rating plummets.
As the coronavirus threatens to close movie theaters in the US and beyond, Cineworld has warned that there is “significant doubt about the group’s ability to continue as a going concern.”
The major studios sabotaged the dream of a la carte programming and are now attempting to transform streaming into cable television via an ethernet connection instead of coaxial.
Several media companies are holding discussions to acquire advertising-supported video streaming services. Fox Corp is in talks with Tubi, and NBCUniversal is considering Vudu.
Traditional pay television subscribers are in freefall—the rate of subscribers canceling their service accelerated by more than 70% last year.