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Regal Cinemas Likely Suspending Operations at All U.S. Locations
The Industry Oct 05, 2020
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Cineworld is the second-largest movie theater operator on a global basis as well as in the U.S. The plan to close the locations isn’t definite, the person familiar with the situation said, and a final decision isn’t likely until Monday or Tuesday. Actor Daniel Craig during a promotional appearance on TV in Times Square for ‘No Time to Die’ in December. Photo: carlo allegri/Reuters Theaters in the U.S., the world’s largest theatrical market, have endured historic levels of financial strain for months. After the coronavirus pandemic initially caused most U.S. cinemas to close in March, major chains like Regal, AMC Entertainment Holdings Inc. and Cinemark Holdings Inc. reopened in August, ahead of the spy film “Tenet,” distributed by AT&T Inc.’s Warner Bros. The highly anticipated movie, from director Christopher Nolan, had been delayed repeatedly amid ongoing uncertainty about which theaters would be allowed to open. But with only about two-thirds of domestic theaters able to open, thanks to varying state and local guidelines, and consumers apparently still wary of going to theaters, the $200 million movie grossed just $41.2 million in the U.S. and Canada through last weekend. That tepid performance has led Hollywood studios to recoil from releasing […]
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