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.”
British film exhibitor Cineworld is now the largest theater chain in North America after buying out Canada’s Cineplex for $2.1 billion, which was a whopping 42% premium.
The Department of Justice in the United States is preparing to allow Hollywood studios to own film theaters once again. This decision would reverse 70 years of anti-trust law that was implemented in 1948, which is known as the Paramount decrees.
After a decade of primarily focusing on episodic content, Netflix wants to break the theatrical glass ceiling, especially since they are funding more original films.
Apple wants to carve out exclusive theatrical windows for exhibitors to screen some of its forthcoming feature films before streaming on Apple TV+.
The exclusive 90-day theatrical window has become a line in the sand that theatrical exhibitors are unwilling to cross.
Netflix solidified its position in Hollywood by recently taking the empty seat at the Motion Picture Association of America vacated when Disney acquired Fox.
Last year was the first year that global viewers spent more on online video streaming services than attending movie theaters.
Amazon and Netflix both walked away from the opportunity to acquire Landmark Theaters.