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Cineworld considers CVA in struggle to survive
The world’s second largest cinema chain Cineworld is considering slashing rents and permanently closing UK cinemas after lockdown restrictions and a lack of blockbuster films caused business to collapse. Source: https://www.ft.com/content/a49de133-5596-4161-bbe5-02483c74c812 … [Read more...]
Curzon cinema boss calls for theatres to embrace streaming
The boss of the UK’s Curzon cinema chain has criticised what he calls the industry’s “outdated” model and said movie theatres will not survive unless they embrace streaming services and make deals with studios that will see their exclusive hold on new film releases … [Read more...]
Secret Cinema partners with Netflix for first US screening
UK immersive cinema company Secret Cinema will partner with Netflix for its first US screening, which will be a drive-in event, as part of efforts to save its business after coronavirus made it impossible to operate. Drive-in films have become much more popular while social-distancing measures are in place. The Secret Cinema showing of the Netflix … [Read more...]
Jilted companies hold their own against shaky would-be acquirers
Covid-19 has thrown up a new problem: buyers’ remorse for deals struck shortly before the pandemic. As the coronavirus crisis escalated in late spring, Advent International was looking for an escape route. The US private equity firm had agreed in February to pay $1.9bn for Forescout Technologies, a Californian software company. But with the … [Read more...]
Chinese cinemas fret over muted reopening
Operators say restrictions mean they will struggle ‘to make ends meet’ as audiences make cautious return. Chinese cinema operators have said restrictions to prevent the spread Covid-19 as the industry reopens after six months of closure and heavy losses mean they will struggle to survive. Movie theatres reported Rmb3.3m ($472,200) in box office … [Read more...]
