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.
The exclusive 90-day theatrical window has become a line in the sand that theatrical exhibitors are unwilling to cross.
As Cineworld prepares to buy Regal, is AMC, the world’s largest cinema owner, also for sale? Six companies have approached AMC since September.
British film exhibitor Cineworld said on Tuesday it agreed to acquire the U.S.’s second largest film exhibitor Regal Entertainment for $3.6 billion.
Tang Media is set to purchase Open Road Films for an undisclosed amount. The price might as well be one dollar, given Open Road’s massive debt load.
Wanda Group is in the position to transform theatrical exhibition markets in English-speaking territories.