AMC Entertainment Shares Up 10% Before Market Open As Chain Said To Near Debt Restructuring Deal

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.

Andreas Wiseman International EditorChinese state television is removing English Premier League soccer matches from their schedule amid the growing political feud between Beijing and the UK government.CCTV, which has the rights in China, won’t be showing the remainder of the current season, per a Bloomberg report.

Anthony D'Alessandro Editorial Director/Box Office EditorEXCLUSIVE: She’s Gotta Have It Netflix series actress Margot Bingham has joined season 11 of AMC’s The Walking Dead.While the network nor sources won’t comment on who Bingham will play, odds are that we’ll finally see Bingham as Stephanie, a character she’s done the voiceover for in the season 10 episodes “Bonds” and “Morning Star”.

Rebecca Davis editor“The Pursuit of Happyness,” “Dolittle” and “Bloodshot” are the first confirmed foreign films to hit Chinese cinemas next week as a portion of venues in low-risk regions reopen starting Monday.China’s cinemas have been closed for longer than any other country’s, having stayed dark — despite a brief attempt to reopen in March — since the lunar new year holiday in late January.“Happyness” will be the first of the Hollywood titles to screen, starting from day one of reopenings

Kanye West, 43, shared a quick little video on Twitter to show his 30 million followers what’s to come in the highly anticipated line.The Yeezy mastermind posted a behind-the-scenes clip from a Yeezy Gap fitting, which took place in what appears to be a warehouse. The five-second teaser has since amassed nearly two million views.The video shows a model being fitted in a pair of army green utility pants, which she wears with a white T-shirt and sunglasses.

Jill Goldsmith Co-Business EditorImax China has expanded its decade long partership with Wanda Film Co.

Todd Longwell Ask entertainment attorneys of color about diversity in their chosen profession, and you’ll hear plenty of examples about an industry that loves to talk about inclusiveness but falls short in practice.“Many times in my career, I’ve looked around a courtroom or a conference table and have not seen any other people of color, let alone women of color,” says Cassandra Seto, a partner in O’Melveny & Myers’ Century City office specializing in entertainment law who is Chinese

Jill Goldsmith Co-Business EditorAMC Entertainment Friday announced a debt restructuring that it said would “prove highly beneficial to the company and its shareholders.”The deal will reduce the principal amount of its total debt liabilities, extend the maturities of a significant percentage of outstanding debt, reduce cash interest expenses, and boost its cash and liquidity position to help navigate the ongoing COVID-19 crisis, the nation’s largest exhibitor said in an SEC filing.Theatres have

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.

Tyler Perry is set to pay for the funeral of eight-year-old Secoriea Turner, who was shot and killed near Rayshard Brooks‘ memorial site on Saturday.

struggling as its cinemas have been shuttered by coronavirus lockdowns, saw its stock surge nearly 10 percent Wednesday on reports that it’s nearing a debt restructuring deal to avoid bankruptcyThe company, which operates about 1,000 theaters globally, has been trying for weeks to get bond holders to agree to swap debt at a discount but only a relatively small percentage had agreed as of June 30.

As we’ve written about dozens of times already, cinemas in the US are facing an existential crisis right now and the COVID-19 pandemic is only adding to this issue. Even without a global pandemic forcing theaters in the US to close for months, the theatrical exhibition business has suffered over the past several years as people just find other things to do other than visit cinemas.

AMC bosses won’t be pulling a controversial episode of Mad Men, featuring blackface, from the network in an effort to maintain “historical authenticity”.According to the Los Angeles Times, the episode in question – season three’s My Old Kentucky Home – will be shown in its entirety, along with trigger warning ahead of the programme, warning it contains “disturbing images related to race in America”.“One of the characters is shown in blackface as part of an episode that shows how commonplace

AMC bosses won’t be pulling a controversial episode of Mad Men, featuring blackface from the network, in an effort to maintain “historical authenticity”.According to the Los Angeles Times, the episode in question – season three’s My Old Kentucky Home – will be shown in its entirety, along with trigger warning ahead of the program, warning it contains “disturbing images related to race in America”.“One of the characters is shown in blackface as part of an episode that shows how commonplace racism

50 Cent has been showcasing fan-made artwork designs for the upcoming posthumous debut album by Pop Smoke after its original album cover faced an online backlash.The late rapper’s album is set for release on Friday (July 3), and designer Virgil Abloh was behind the original album art that was first shared on Monday night (June 29).However, Abloh’s design (which you can see below) has been heavily criticised online and derided as “lazy”, leading Pop Smoke’s manager Steven Victor to bow to