Cinemark Credit Rating Downgraded Over Extended Cinema Closures

It’s going to be a different kind of birthday for Moroccan and Monroe Cannon. The twins of Mariah Carey and Nick Cannon celebrate their ninth birthday on April 30, right in the middle of the COVID-19 quarantine.

Five days after Endeavor confirmed layoffs, staff cuts and pay cuts that will impact roughly a third of its 7,500-person workforce, the firm has been hit with a credit ratings downgrade from Moody's. The financial services company on Monday revised its credit facility ratings on Endeavor — the parent company of talent agency WME, modeling agency IMG, Ultimate Fighting Championship and Professional Bull Riders — from stable to negative.

By Jill Goldsmith

S&P Global Ratings on Thursday downgraded Walt Disney Co.'s credit rating over concerns the coronavirus crisis will slow any reopening of the studio's shuttered theme parks and studio production. "Continued government-imposed social distancing and, longer term, consumer concerns about attending public events will likely retard theme park attendance," the credit agency wrote in an April 23 note as it trimmed Disney's rating to an A-minus from A.

LONDON – Warner Music Group is aligning its senior leadership team in one of the world’s biggest music markets with the promotion of Andy Ma to the new role of CEO, Warner Music Greater China, responsible for the company’s operations in Mainland China, Hong Kong and Taiwan. Ma joined Warner in 2011 and has headed its China division since 2018, when h

By Rebecca Davis

S&P Global Ratings on Monday reduced its credit rating for Endeavor Operating Co. over concerns for its high-borrowing strategy and exposure to the bottom dropping out of its live events market as a result of a global pandemic.

By Dino-Ray Ramos

With Wall Street judging a Chapter 11 bankruptcy filing for AMC Theatres increasingly likely, B. Riley FBR analyst Eric Wold on Monday recommended investors sell off stock in the exhibition giant.

Universal Studios on Thursday extended is park closures through at least May 31. The announcement comes after The Walt Disney Co.

By Patrick Hipes

Wells Fargo analyst Steven Cahall has downgraded Walt Disney's stock in a Tuesday report that forecasts the studio's theme park division will take two years to return to normal attendance in the coronavirus pandemic era. "We don't think Parks can get back to anything close to full capacity until testing and/or vaccines are far more ubiquitous," Cahall told investors.

Ever since it was announced that John Cena will appear on the eagerly awaited WrestleMania 36 event, fans were waiting to catch the star in action. And when he finally entered the ring on April 5 against Bray Wyatt aka The Fiend, the wrestler-turned-actor made sure he entertained his fans.

Debt ratings agency S&P Global Ratings on Thursday reduced AMC Entertainment's credit ratings on liquidity concerns should the closure of the mega-exhibitor's theaters amid the COVID-19 crisis continue deep into the summer. The ratings agency said it expected AMC's theaters to remain closed beyond June.

By Ted Johnson

By Jill Goldsmith

The producer of “John Wick” has been ordered to pay $2.4 million to Huayi Bros. in connection with a failed attempt to release the violent action film in China.