8.6 C
New York
Thursday, August 5, 2021
Home World News World's 2nd-biggest cinema operator Cineworld to close all U.S., UK and Irish...

World’s 2nd-biggest cinema operator Cineworld to close all U.S., UK and Irish screens


Cineworld, the world’s second-biggest cinema operator, will close all its screens in the United States, Britain and Ireland this week after studios pulled major releases such as the latest James Bond film, a person familiar with the situation said.

The Regal cinema owner, which began reopening in July after COVID-19 lockdown restrictions started to ease, employs 37,482 people across 787 venues in the U.S., Britain and central Europe, with 546 sites in America.

The release of the new James Bond movie, No Time To Die, was pushed into next year on Friday, crushing hopes for a 2020 industry rebound as rising rates of the coronavirus prompt new restrictions and keep viewers away.

Britain’s Sunday Times said the London-listed company had written to Prime Minister Boris Johnson and Culture Minister Oliver Dowden to warn that the industry was becoming unviable.

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 US first-half loss. Its shares have fallen 82 per cent this year.

Efforts to get audiences back into theaters have proved disappointing. While bigger chains like AMC Entertainment , Cineworld and others have reopened many locations, crowds have been thin. Small and mid-sized theater companies have said they may not survive the impact of the pandemic.

Cineworld had said viewers returned to watch Tenet, a Christopher Nolan spy thriller that became a test case for the wider industry when it became the biggest release to open in cinemas in late August since schedules were torn up in March.

But the postponement of Bond, plus delays to other big releases such as superhero movie Black Widow and Steven Spielberg’s West Side Story give cinema lovers little reason to return. Cineworld declined to comment.



Source link

Today news
Today News 1 runs four of the western GTA’s most influential media websites, offering news, food, lifestyle and entertainment coverage for millions to the Golden Horseshoe and GTA regions. The independently-run, online news source was founded in 2019 and specializes in everything from breaking news to food and restaurant, arts and entertainment and lifestyle coverage.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisment -

Most Popular

Rihanna is now a billionaire, but not because of her music

Superstar Rihanna's net worth is now estimated at $1.7 billion US, Forbes magazine said on Wednesday, making her the richest female musician in the world. But...

Grammys commit to more hiring diversity for 2022 show

The Grammy Awards will adopt an inclusion rider that will require producers to recruit and hire more diverse candidates backstage and in front...

Monty Python’s John Cleese looking for a place to stay in Huntsville, Ont.

Someone with a cottage or home in Huntsville, Ont., could potentially host a famous tenant. British actor and comedian John Cleese tweeted on Monday...

TIFF 2021: Oscar Peterson documentary, Cannes-winning Titane added to lineup

Cannes-winning horror sensation Titane and a documentary on the late Canadian jazz legend Oscar Peterson are among the titles added to the Toronto International...

Recent Comments