Cineworld can’t find buyer for operations outside UK, US and Ireland as creditors set to take over Cineworld Cineworld will halt efforts to sell its business outside of the UK, US, and Ireland after it failed to find a buyer. The London-listed firm — which filed for bankruptcy in the US last August — said that it had received offers for its “Rest of World” business but they “did not meet the value [...]
Top Gun: Maverick and pricier tickets help Everyman cinemas post 75 per cent boom in earnings Lights, camera.. profit Blockbuster movie Top Gun: Maverick helped boost Everyman Media’s revenues by 62 per cent as Brits continue to embrace cinema going as an affordable luxury. The company, which has 14 of its 38 cinemas in greater London, announced its annual update to December, reporting revenue of £79.7m which is up from the previous covid-impacted year [...]
Hard-hit cinemas bank on Avatar avatar Analysts have warned against cinema chains pinning too much hope on upcoming blockbusters like Avatar sequel, which is due to drop this week. Although Imax’s chief exec said the James Cameron’s sci-fi movie had “one of the highest pre-sale levels we’ve ever seen”, big screens may need to do more to turn the tide – [...]
Lenders prop up Cineworld with £680m cash injection September 10, 2022 Cineworld has secured $785m (£677.4m) from existing lenders, who have sought to prop up the ailing retailer. The cinema chain officially filed for bankruptcy in the US earlier this week, having announced last month that it was voluntarily seeking a Chapter 11 bankruptcy filing, sending shares down 25 per cent. The company, which operates 747 cinemas [...]
Cineworld share price plunges over 50 per cent amid bankruptcy reports August 19, 2022 Cineworld’s share price has plunged more than 53 per cent today amid reports it is filing for bankruptcy. Investors bailed out of the stock, leaving it with a share price of 4.5p a piece. However, shareholders have been stepping back for more than a year. The cinema chain had been hit particularly hard by successive [...]
Vue cuts valuation to £650m after July’s restructuring deal August 7, 2022 Vue International has cut its valuation to £650m following a £1bn restructuring deal announced last month. The UK-headquartered cinema chain said in July it was considering a £1bn takeover from lenders which would see its former majority shareholders ousted, the Sunday Times reported. As part of the takeover, the cinema chain also negotiated its exit [...]
Teens in suits banned from UK cinemas as TikTok craze around new Minions: The Rise Of Gru takes off July 5, 2022 Reports are coming in that young people wearing suits during screenings of Minions: The Rise Of Gru are being banned from UK cinemas. The decision comes after some young moviegoers were criticised for rowdy behaviour after a viral trend erupted on the social media app TikTok. The trend involves large groups of teenage boys, who [...]
Hollywood in shock as all eyes in Italy are on Paul Haggis: Oscar-winning director held at hotel room June 20, 2022 The director and writer of Hollywood hits such as Million Dollar Baby, Crash and two James Bond films – Paul Haggis – is currently being held in a hotel room in southern Italy pending a court hearing while prosecutors press their investigation of a woman’s allegations he had sex with her without her consent over [...]
UK cinemas embrace digital IDs for age verification May 30, 2022 UK cinemas embrace digital IDs as the face of cinema continues to evolve with the times.
Liquidity boost: Cineworld pins hopes on payment delays from Regal shareholders May 4, 2022 On a quest to boost liquidity, Cineworld revealed this morning that it had approached the former dissenting shareholders of its U.S. division Regal Entertainment to further delay payment obligations.