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Cineworld CEO Says He's 'Very Optimistic' as U.S. You may opt-out by, Impact 50: Investors Seeking Profit — And Pushing For Change, Interim Results for the period ended 30 June 2020, Disney Pushes Back ‘Black Widow’ Release Again Amid Low Movie Theater Turnout. Although there are a handful of major films still set for 2020, like Pixar's “Soul” and Warner Bros.' “Dune,” Friday’s announcement that “No Time To Die” was being delayed to 2021 came as a final blow. “This is not a decision we made lightly, and we did everything in our power to support safe and sustainable reopenings in all of our markets — including meeting, and often exceeding, local health and safety guidelines in our theaters and working constructively with regulators and industry bodies to restore public confidence in our industry,″ said Cineworld CEO Mooky Greidinger.

Cineworld’s latest results come as the chain, the second largest in the world, was forced to close 778 theatres across the U.S., the U.K., Europe and Israel in March. Cineworld Group Plc said Monday that 536 Regal cinemas in the U.S. and 127 Cineworld and Picturehouse venues in the U.K. would close on Thursday. Cineworld is drawing up plans to indefinitely close all of its sites in the U.K. and U.S., reports on Sunday said, citing people familiar with the discussions. Cinemas have been one of the businesses worst hit by the pandemic, and lockdown measures meant to enforce social distancing. Without these releases, Cineworld said it can’t give customers “the breadth of strong commercial films necessary for them to consider coming back to theaters against the backdrop of COVID-19.". Leading exhibition chain Cineworld, which owns Regal in the U.S., has presented inevitably bleak interim results for the six month period ended 30 June 2020. I studied Social Anthropology at the London School of Economics, where I was a writer and editor for one of the university’s global affairs magazines, the London Globalist.

Many started tentatively reopening in late August, anticipating the release of money-making blockbusters, like Nolan’s “Tenet,” the Bond pic “No Time to Die” and Marvel’s “Black Widow.”. That led me to Goldsmiths, University of London, where I completed my M.A. Before it's here, it's on the Bloomberg Terminal. Cineworld, one of the world’s biggest movie theatre chains that has been badly hit by coronavirus restrictions, has warned that it may need to raise more money if governments reintroduce strict lockdowns, as the company swung to a $1.6 billion loss in the first half of 2020. Sign up here.

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Cineworld is considering closing all of its cinemas in the UK and US this week because of the impact of coronavirus. While some analysts stress that films need to play the “long game” at the box office in this current environment, studios responded by delaying most other major films that had been set for the fall and winter.



Several blockbuster releases around the world have been delayed for months, most recently Disney’s Black Widow while cinemas have remained shut or operating at limited capacity.
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The action thriller has pulled in some $251 million around the world, to date.

Accounting giant PwC estimates that the global cinema industry will see a 66% drop in revenue this year, to $15.5 billion. Cineworld is drawing up plans to indefinitely close all of its sites in the U.K. and U.S., reports on Sunday said, citing people familiar with the discussions. Cineworld’s statement continued: “If Governments were to strengthen, restrictions on social gathering, which may therefore oblige us to close our estate again or further push back movie releases, it would have a negative impact on our financial performance and likely require the need to raise additional liquidity.”. Hundreds of Regal, Cineworld movie theaters to close Shares in the company that owns the Regal, Cineworld and Picturehouse cinemas in the U.S. and Britain have fallen as …

The movie theatre giant said that despite the pandemic’s adverse effect on its latest results, it was boosted by the performance of Christopher Nolan’s Tenet. Theaters Reopen.

LONDON -- Shares in the company that owns the Regal, Cineworld and Picturehouse movie theaters fell as much as 58% after it said it will temporarily close the venues because delays to the latest James Bond film left it with few blockbusters to attract customers during the pandemic. Efforts to slow the spread of the virus resulted in closure of most cinemas for nearly six months. in Journalism.
“There can be no certainty as to the future impact of COVID-19 on the Group,” Cineworld said in a statement. Cineworld, which operates the second largest movie theater conglomerate in the United States, Regal Cinemas, and the largest worldwide, said Sunday that … The company has high debts and is, like the wider industry, struggling with the effects of the pandemic. '', 24/7 coverage of breaking news and live events. The letter, signed by the likes of Steven Spielberg, Christopher Nolan, Patty Jenkins, Clint Eastwood and Martin Scorsese, said that if the status quo continues, nearly 70% of small to mid-size movie theaters could be forced to close permanently.

In a sign of the impending tough period, Cineworld reportedly laid off 240 of its U.K. staff, part of its 37,000-strong global workforce, in March. But ticket sales for Warner Bros.’ “Tenet,” the first major film out of the gates, were not as strong in the U.S. as hoped, likely a combination of audience reluctance to return to theaters and the effects of markets like New York remaining closed.