AMC Theatres Posts Revenue Collapse Amid Pandemic

Girls Aloud star Cheryl has reacted to her former bandmate Sarah Harding's heartbreaking news today.Sarah Harding has been diagnosed with breast cancer, which has spread to other parts of her body.She said on Twitter: "There's no easy way to say this and actually it doesn't even feel real writing this, but here goes."Earlier this year I was diagnosed with breast cancer and a couple of weeks ago I received the devastating news that the cancer has advanced to other parts of my body."In response,

Brent Lang Executive Editor of Film and MediaNo, AMC Theatres is not going to ignore its own social distancing guidelines and force strangers to sit next to each other when the cinema chain reopens this week.That was a mistaken assumption that gained traction on social media when it was revealed that AMC was allowing patrons to buy tickets next to seats that had already been reserved. There’s a reason for that apparent disregard of the six-feet apart rule.

Here's a closer look at what to expect during your next visit to #AMCTheatres! The full AMC Safe & Clean plan: https://t.co/ajYqNYREu6 pic.twitter.com/cS3GBnloAx— AMC Theatres (@AMCTheatres) August 14, 2020In the video, AMC detailed that guests can book tickets ahead of time for reserved seating in order to remain contactless.

With theaters shuttered for nearly the entire second quarter amid the coronavirus pandemic, Cineplex has posted a revenue collapse and swung to a loss on Friday. The Canadian exhibition giant for the three months ending June 30 recorded a loss of CAN$98.9 million ($74.2 million), compared to a year-earlier profit of $19.4 million.

AMC Theatres will reopen its U.S. screens on Aug.

Brent Lang Executive Editor of Film and MediaAMC Theatres has just endured one of the most traumatic periods in its hundred-year history. As the theater chain looks to reopen 100 of its locations on Aug.

Also Read: AMC Theatres Lost $561 Million During Second QuarterWhile digging itself out of default, AMC still has a negative credit outlook from S&P. The credit rating firm expressed concern regarding AMC’s plans to begin reopening theaters later this month.“Considerable risk and uncertainty related to this timeline remains.

When Disney announced plans to take it’s $200 million “Mulan” remake and send it straight to Disney+ streaming service with an additional $30 fee, people were shocked.

Also Read: AMC Theatres Lost $561 Million During Second QuarterAs part of the agreement, Universal now has the option to release its films as premium video on-demand titles after they have been in theaters for 17 days. The deal will also make those films available on AMC’s recently launched on-demand service and includes PVOD profit sharing between the two companies, though details remain confidential.

Brent Lang Executive Editor of Film and MediaMost cinemas in the U.S. are closed, major summer films have been pushed back indefinitely, and studios keep selling their movies to Netflix.

via Yahoo! Finance expected the company’s loss per share to slightly better at $4.29Revenue in the second quarter was just $19 million, down roughly 99% from the $1.5 billion in revenue AMC reported last year.

Jill Goldsmith Co-Business EditorAMC Entertainment saw revenue plunge to $18.9 billion for the second quarter ended from in June from $1.5 billion the year before as it swung to the red, no surprise for the nation’s – and world’s — largest theater chain, that saw most locations shuttered completely for the entire three months.The company posted a net loss of $561 million from a profit of $49 million the year before.“It should be no surprise to anyone that with our operations shut the world over,

U.K. TV giant ITV, led by CEO Carolyn McCall, on Thursday reported a 17 percent revenue drop for the first half of 2020, including a drop at its production unit and "the most severe decline in the history of ITV" in advertising, due to the novel coronavirus pandemic.

Discovery on Wednesday reported lower, but better-than-expected financials, including U.S. advertising revenue, for the second quarter amid the novel coronavirus pandemic, which had its first full-quarter impact in the period.

Fox Corp. on Wednesday reported a fall in quarterly earnings and overall revenues, as the owner of Fox News Channel and Fox Entertainment recorded lower advertising revenue amid the coronavirus pandemic.

AMC Networks, the cable networks company that operates AMC, IFC, WE tv, BBC America and SundanceTV, on Tuesday reported lower second-quarter earnings and said U.S. advertising revenue fell 14.6 percent, less than previously feared, in the first quarter that was fully affected by the novel coronavirus pandemic.

Brian Steinberg Senior TV EditorAMC Networks said the coronavirus pandemic and a substantial impairment charge contributed to a significant decline in second quarter profit, the latest media company to show the signs of grappling with conditions that have scuttled TV production and slowed the flow of advertising.The New York owner of the AMC, IFC and Sundance cable networks said net income fell to $15 million, or 28 cents a share, compared with $128.7 million, or $2.25 a share, in the

Debt ratings agency S&P Global Ratings has reduced AMC Entertainment's credit ratings due to concerns over its new debt deal with bondholders. The research firm downgraded AMC's credit rating to SD (selective default) from CC.