AMC Entertainment Reaches Deal With Bondholders To Lower Debt, Raise $300M Cash

Universal and AMC Theatres deal enabling the studio to release new movies on premium video on-demand within three weeks of their debut has upended the exhibition industry. That substantially shrinks the amount of time during which films can only show on the big screen.

“Focusing on the long-term health of our industry, we would note that just as restaurants have thrived even though every home has a kitchen, AMC is highly confident that moviegoers will come to our theatres in huge numbers in a post-pandemic world,” Aron said in his statement.

Jill Goldsmith Co-Business EditorAMC Entertainment Monday announced the results of a key debt swap as it nears the finish line of a financial revamp unveiled earlier this month that will help it stay viable through  spring. The plan will slash debt, bring in $300 million in fresh cash and defer some interest payments.The financing just became even more urgent after Warner Bros.

“Raise your hand if Auntie Kourtney is your favorite…” Kourtney Kardashian, 41, captioned the three cute pics of her and Chicago West, 2, that she uploaded to Instagram on July 26. In the second of the series, Kourt raises her own hand in what can be considered a display of positive self-esteem.

Goldman Sachs has agreed to a $3.9 billion settlement with the Malaysian government over the 1MDB scandal. According to Reuters, the deal includes a $2.5 billion cash payout by the investment bank and a guarantee to return at least $1.4 billion in assets connected to 1MDB bonds.

Dade Hayes Finance EditorJust in time for the Chicago Cubs’ regular season opener, Comcast and Sinclair Broadcast Group renewed their carriage agreement, which includes the Cubs’ new TV home, Marquee Sports Network.The multi-year deal covers retransmission consent of 78 Sinclair TV stations in 51 markets across Comcast’s cable footprint.

reopening kicking off July 15 with the hope of being fully operational by July 24, but pushed back the plan July 30 late last month.The latest delay comes just days after Warner Bros. indefinitely postponed the release of its big-budget spy film, “Tenet,” which had been slated to hit theaters on August 12.

Brent Lang Executive Editor of Film and MediaAMC Theatres has delayed plans to reopen its cinemas as coronavirus cases surge across the United States. The company, which with more than 600 locations ranks as the country’s largest movie theater chain, will now open its venues in mid to late August.The problem of when and how moviegoing can safely resume and cinemas can broadly reopen has been a thorny one for the exhibition space.

Dominic Patten Senior Editor, Legal & TV CriticIn a decision that may send shudders up the spine of Frank Darabont and CAA’s long fought $300 million The Walking Dead profit participation war with AMC, the cabler just won a major battle that could prove a death knell to Robert Kirkman’s own legal actions.After a delay of several months due to the ongoing coronavirus pandemic essentially shutting down the courts, a Los Angeles Superior Court judge today finally laid down the law on TWD creator

Khloe Kardashian is a superstar mom, but sometimes she has her doubts when it comes to raising her two-year-old daughter, True Thompson. Khloe, 36, said during a July 22 interview on The Travis Stork Show that she has to stop herself from comparing her parenting to that of her sisters Kim Kardashian and Kylie Jenner, who both had daughters around the same time she did.

Brian Steinberg Senior TV EditorRobert Irvine will add some new ingredients to Food Network as part of a new two-year deal with the Discovery-owned cable outlet.Irvine will lead new episodes of his series “Restaurant: Impossible” and develop mid- and short-form video segments for both linear and digital venues, including Food Network’s Kitchen app.

PRAGUE -- A fire broke out at a modern art museum Wednesday in the heart of the Czech capital, officials said. Electrical cables caught fire at one of Museum Kampa's building, sending acrid smoke across the nearby Vltava River, Prague firefighters spokesman Martin Kavka said.

Cinema chain AMC Entertainment Holdings has unveiled a proposed debt restructuring agreement with its bondholders that includes $200 million in fresh cash and the Silver Lake Group purchasing $100 million in new senior notes. The $200 million will be made available through a rights offering of new subordinated debt to allow holders of AMC's existing subordinated notes to exchange their securities at a discount for new debt to be issued by the company.

Savannah and Chase Chrisley had unique childhoods -- considering they were on television. Now cast members of the reality show "Chrisley Knows Best," the two opened up to People magazine about what it was like to grow up in front of America.

Jill Goldsmith Co-Business EditorThe nation’s largest theater chain AMC Entertainment is finalizing a deal with bondholders that would slash debt by up to $600 million, bring in $200 million in fresh cash and give it a lifeline into 2021, Deadline has learned.A $500 million bond sale in April as the coronavirus kicked the nation’s economy into a ditch was meant to fund the exhibitor’s seriously-cash strapped operation through November.

Joe Otterson TV ReporterAmazon has landed the rights to develop the 2020 Pulitzer Prize finalist New York Times story and podcast “The Jungle Prince of Delhi” as a drama series, Variety has learned.The story, written by Ellen Barry, delved into the history of the royal family of Oudh, deposed aristocrats living in a ruined palace in the Indian capital claiming to be the heirs to a fallen kingdom.Mira Nair is attached to direct the project and will also executive produce.

Peter White Television EditorThe Jungle Prince of Delhi, a New York Times expose about the fake royal family of Oudh, is in development at Amazon.The streamer has secured the exclusive rights to the story, which was also profiled on the paper’s podcast The Daily and was a 2020 Pulitzer Prize finalist.Mira Nair, who recently directed six-part BBC drama A Suitable Boy, is attached to direct and exec produce.