Regal, a subsidiary of the Cineworld Group, operates one of the largest and most geographically diverse theatre circuits in the United States, consisting of 7,211 screens in 549 theatres in 42 states along with American Samoa, the District of Columbia, Guam and Saipan as of October 28, 2019. Now, the Trump administration is considering allowing just this same type of thing to happen again, by potentially overturning the 1938 decrees. Cineworld, the second largest cinema chain in the world, is closing its US and UK venues, according to a report in The Guardian. The James Bond film delay was not the only reason Cineworld decided to roll back its reopening in the U.S. and U.K., Greidinger said. On Monday, however, Greidinger stressed the difficulty of attracting people to the theater without a blockbuster film on the marquee. Efforts to get audiences back into theaters have proved disappointing. Essentially these are the lower grossing locations in proximity to higher-grossing ones in the same market. He added he doesn't really blame the studios for waiting to release blockbuster films with those markets entirely, or even partially, closed. In case you didn't carefully read that last bit, after the last known widespread cinema closure (during another massive global pandemic), the studios bought up the dramatically weakened exhibitors or built across the street from them, forcing them to close. 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Deadline. NEW YORK, NY – MARCH, 17: A Regal Cinemas remains closed on March 17, 2020 in New York City. To revisit this article, select My⁠ ⁠Account, then View saved stories. Exhibition giant and Regal owner Cineworld Group on Thursday swung to a loss for the first half of 2020 as revenue fell sharply amid the novel coronavirus pandemic, which led to cinema … We have highlighted the potential impact this could have on the Group within our going concern statement in this document.”. Overall, it sends an erratic message as to whether movie theaters are really open or closed. pic.twitter.com/tKOtsELxgC. There were other controls placed on booking practices and pricing as well, but the ownership limitations are the most widely known limitation. Locations in Eastern Europe and Israel remain open, but their one Irish theater had already closed. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. The Sunday Times in the UK teased the front page of their edition tonight, which had the news about Cineworld’s UK closure, expected to impact 5,500 jobs. We want to hear from you. The challenge facing movie theater operators in the U.S. right now is a "classic" the-chicken-or-the-egg scenario, Greidinger said. This story has been shared 543,737 times. 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The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission of Condé Nast. Get this delivered to your inbox, and more info about our products and services. Regal began to grow at a rapid pace, opening larger cinemas in suburban areas. Previous Saturday, 5:49PM: In response to MGM’s No Time to Die moving out of the Thanksgiving corridor to Easter weekend 2021, plus the overall lack of studio tentpoles, Cineworld is closing down 128 of its UK and Ireland cinemas as well as its U.S. Regal chain as of next week according to reports. Fifty Regal locations are expected to keep operating during weekend hours. Angry LeBron James walks off court during NBA Finals in unbelievable scene, Claudia Conway announces she has coronavirus on TikTok, Giants star fights Rams player as family drama boils over, Trump supporters close 5th Ave. to support COVID-19-stricken president. Britain’s Newest Drive-In: Queen Elizabeth’s Sandringham Estate, Six of the Best Films from the Venice Film Festival. With the James Bond film No Time to Die delayed until 2021, major movie theater chain Regal Cinemas will be closing doors in both the US and the UK. Regal’s Edwards Cinema in Canyon Country, CA, 36 miles north of Los Angeles, is part of the nation’s ghost towns of theater closures. The second largest global theater chain is the owner of Regal Entertainment in the U.S. and just recently reached agreement to acquire Cineplex, a leading Canadian chain. — Elle Fanning Is Our October Cover Star: Long May She Reign— Kate Winslet, Unfiltered: “Because Life Is F--king Short”— Emmys 2020: Schitt’s Creek Makes Emmy History With Complete Sweep— Charlie Kaufman’s Confounding I’m Thinking of Ending Things, Explained— Ta-Nehisi Coates Guest-Edits “The Great Fire,” a Special Issue— Revisiting One of Princess Diana’s Most Iconic Dresses— The Nest Is One of the Best Films of the Year— From the Archive: Too Hepburn for Hollywood. Trademark and Copyright 2020 The Associated Press. It warned investors on Sept. 24 that it might need to raise more money if its sites were forced to shut again, after it swung to a $1.64 billion first-half loss. Millions qualify for free monthly cell phone service. Once one of the leading firms utilizes bankruptcy to reorganize, those that don't are left at a competitive disadvantage, servicing costly leases, supporting under-performing locations and paying all their debts.