Nick Cannon’s brother Gabriel is thankful he has Google as a reminder when it comes down to naming his many nieces and nephews.
11.08.2023 - 22:23 / deadline.com
CEO Adam Aron has expounded on Twitter and most recently on AMC Entertainment’s latest earnings call about the risk of a cash crunch and even bankruptcy if it wasn’t able to secure financing in a still uncertain box office climate.
Today he can breathe easier as a Delaware Chancery Court Judge approved a revised shareholder settlement that paves the way for that to happen.
Chancellor Morgan Zurn, in her second opinion, approved the agreement she had rejected on July 21 for being “unsound.”
The problem speaks to the fact that AMC has an unusual investor base of millions of individual shareholders who were reluctant to dilute their holdings by allowing the company raise equity capital, with its regular shares. So AMC created new APE units (AMC Preferred Equity) as a workaround, figuring it could sell those, but it didn’t work. The APEs, which were traded separately, plunged in value. Amid the mess, the company proposed eliminating the APEs in a stock conversion, along with a reverse stock split and the authorization to raise equity. A majority of shareholders approved that at a special meeting in March.
But not all, a few of them sued AMC in Delaware Chancery Court seeking class action status. But then they reached a settlement with AMC, which had to approved by the same judge. Instead it was rejected. Everyone went back to the drawing board, revising the settlement with legal filings flying.
Aron warned earlier this week that retail shareholders “are underestimating the potential for cash burn in seasonally weaker winter months, especially given the uncertainties of the actors’ and writers’ strikes, since no one knows when they will end.”
“We continue to seek the flexibility to raise fresh capital on the best possible
Nick Cannon’s brother Gabriel is thankful he has Google as a reminder when it comes down to naming his many nieces and nephews.
Rebecca Rubin Film and Media Reporter An estimated 8.5 million people went to the movies this Sunday on National Cinema Day, a 5% increase in attendance from last year’s inaugural event. On National Cinema Day, hosted by the Cinema Foundation, all showtimes in every format (including Imax and Dolby) were $4 at participating theaters. Even with heavily discounted tickets, the box office saw a 16% increase over the previous Sunday, Aug.
died. She was 31.The reports that Paul was killed last week, when she was involved in a collision that involved seven other vehicles in Ontario, Canada. According to the site, a transport truck entered a construction zone and crashed into the stopped cars.
Power Book III: Raising Kanan will return to Starz with Season 3 on December 1. First-look photos can be found below.
Former Canadian Olympic figure skater Alexandra Paul has passed away at age 31 following a tragic car accident that took place in the Township of Melancthon in Ontario.
Leading exhibitor AMC Entertainment completed a 1-for-10 reverse stock split this morning, a planned move preceding Friday’s conversion of its preferred “APE” shares into common stock.
Manori Ravindran Executive Editor of International SAG-AFTRA’s chief negotiator Duncan Crabtree-Ireland joined the heads of U.K. actors and crew unions Equity and Bectu in a webinar on Tuesday to discuss the ongoing strikes and their increasingly heavy impact on the British entertainment industry. While Crabtree-Ireland seemed appreciative of the international support for the SAG-AFTRA strike — “We know your members are hurting in the industry as well,” he told more than 500 union members who joined the virtual event in hope of an update — the union leader provided few details around the state of negotiations so far.
EXCLUSIVE: Greenwich Entertainment has acquired U.S. distribution rights to Inshallah a Boy, the directorial debut of Amjad Al Rasheed which world premiered during the Cannes Film Festival’s Critics’ Week and is set to have its North American debut at TIFF next month.
Todd Spangler NY Digital Editor The private-equity firm that owns MindGeek — which operates a massive network of adult entertainment properties, including Pornhub — has shed the company’s old name and, it hopes, some of the baggage that came with it. “The decision to rebrand the company as Aylo comes in response to the need for a fresh start and a renewed commitment to innovation, diverse and inclusive adult content, and trust and safety,” the Montreal-based company said in an Aug.
Michael Schneider Variety Editor at Large And yet, let’s give credit where credit is due. It is extremely impressive. And it has only happened twice before: In 1992, when NBC scored four of five slots, with “I’ll Fly Away,” “L.A.
Despite having new fundraising options in the wake of a judge’s ruling on Friday, AMC Entertainment started the week on a jarring note as its stock price skidded to its lowest level since January 2021.
Giant theater chain AMC Entertainment has promoted Ellen Copaken to SVP Marketing, effective immediately. She was also appointed to sit on the company’s management executive committee.
was announced Wednesday on her official Instagram account — refused to confirm her passing when contacted by The Post.When reached at his Vancouver law office, the person answering the phone said that he was her dad, Chris Hope, but would not corroborate his daughter’s passing.“Yeah, you have the right person, but I don’t have any comment right now,” Hope told The Post in the brief, 2-minute call Wednesday. “I’m not able to give you any comment right now.
If you live in the Northeast, you're probably well aware that it looks like a dystopian war zone outside. Wildfire smoke blowing in from Canada has created dangerously bad air quality in New York, New Jersey and surrounding areas. Aside from staying inside, shutting all doors and windows and wearing filtration masks when necessary, you can help keep your home air quality at a safer level by investing in an air purifier.Air purifiers act as filtration systems using a HEPA filter that can combat everything from viruses and airborne particles and bacteria, to allergens, pollen and other air pollutants throughout the home, the classroom, dorm room and other important spaces.
Meghan Markle and Prince Harry have been slammed for "looking inwards" with their "curious" £3 million deal to secure the rights to a book whose characters have 'obvious parallels' with themselves, according to a royal author.
AMC Entertainment’s CEO Adam Aron warned that the chain risks financial peril if it can’t raise fresh cash as needed while exhibition continues its post-Covid recovery amid Hollywood strikes.
Following the collapse of their deal with Spotify, the Duke and Duchess of Sussex's next move was recently revealed.The Sun reported that the couple had bought the rights to a hit romantic novel Meet Me At The Lake for roughly £3million in a "Hollywood-or-bust move." The love story, written by former journalist Carley Fortune, echoes many parts of Harry and Meghan's real-life relationship. Set in Toronto, Canada - where Meghan lived when she started dating Harry - it tells the story of a couple who meet in their 30s and deals with themes including childhood trauma over losing a parent in a car crash, mental health and post-natal depression.
Top exhibitor AMC Entertainment rode the box office revival in the second quarter, beating Wall Street forecasts and returning to profitability.
Stranger things have happened.Meghan Markle, 42, and Prince Harry, 38, have purchased the screen rights to the popular new release “Meet Me at the Lake” to turn it into a film for Netflix, The Post can confirm — and according to one PR expert, the project could “break records.” “Harry and Meghan are no strangers to attracting millions of eyes upon what they do and this will be no different,” publicity coach Mayah Riaz recently told The Mirror. “I believe the film could hit record number in the first week at the box office.”Riaz added that the numbers could even compare to Greta Gerwig’s recently released “Barbie” movie, which hit $1 billion in global ticket sales over the weekend.
David Beckham and Austin Butler randomly teamed up to help remove a tree from the road in Muskoka, Canada over the weekend.