Showbiz Stocks Pummeled In Market Rout On COVID-19 Spike: Cinemark, AMC Entertainment, Walt Disney Shares Drop

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.

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.

Jill Goldsmith Co-Business EditorCash-strapped AMC Entertainment saw its stock surge in premarket trade as the nation’s largest exhibitor is said to be closing in on a debt restructuring that will provide a cash cushion as its theaters remain shuttered.The company 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, the company said in a SEC filing late Tuesday that extended the deadline.

In May of 2012, musician, artist, rapper, filmmaker, and political activist Adam Yauch (MCA) passed away after a battle with cancer. His influential group, the seminal hip -hop trio, The Beastie Boys, essentially died on the same day too.

Taylor Swift's great Tayamerica Fourth of July 2020 party isn't happening, and the coronavirus pandemic isn't the only reason that the celeb-filled bash is off (though obviously it is a big one for everyone: large gatherings are generally discouraged because they can easily spread the virus).

Sissy Spacek was born on December 25, 1949, and she’s earned the reputation of Hollywood’s most beautiful aging ladies. It’s hard to believe that she’s 70-years-old and now the Oscar-winner is opening up about how she has stayed grounded throughout her 50-year career.

Adam B. Vary Senior Entertainment WriterOn Tuesday, Dr.

 In June of 2019, Granger Smith and wife Amber Reilly Smith faced the worst tragedy imaginable, after their three-year-old son River passed away in a drowning accident.

J. Kim Murphy editorIn an interview on a new episode of Luminary’s Black List Podcast, hosted by Black List co-founder Franklin Leonard and Black List community director Kate Hagen, Spike Lee voices his agreement with growing calls to remove statues and iconography commemorating the Confederate States of America.“F— that flag,” Lee said.

As we said yesterday, it was only a matter of time before AMC Theatres’ decision to delay the chain’s reopening until the end of July would impact the previously-announced dates for Regal Cinemas and Cinemark. And on cue, both of the other chains have revealed that their plans for reopening would also be delayed as studios try to figure out the best time to release films during a pandemic.

Many child stars grow up under a microscope — now, that microscope is being turned onto the very idea of a “child star.”

. "Many of the areas and topics covered in these conversations will be related to the foundation and mission of , their new organization housing their philanthropic endeavors."This venture fits with Meghan's outspokenness .

The Sun reported on June 25 that on the heels of their wildly successful 2019 reunion tour — which sold 700,000 tickets and earned a reported $250 million — the British girl group, which got its start in 1994, plans to take its concert trek to America, Europe and Australia next year after the coronavirus pandemic is under control.However, according to The Sun's sources, only four members — Scary Spice Mel B, Sporty Spice Mel C, Baby Spice Emma Bunton and Ginger Spice Geri Horner — will hit the

Jazz Tangcay Artisans EditorThe relationship between director Spike Lee and composer Terence Blanchard is rooted in collaboration, counting over 15 films together — most recently, “Da 5 Bloods.”“Terence is a great jazz musician and band player,” says Lee. “He brings that wealth of understanding of what music does with colors, shapes and feeling.”Blanchard, who moonlights as a trumpeter, credits the strength of their 30-year relationship to Lee’s self-assurance as an artist.

Ellise Shafer editorSpike Lee’s “Do the Right Thing” will be free to stream online until June 29.The 1989 film is also the American Film Institute‘s pick this week for its Movie Club. It will be accompanied by a live conversation with Lee on AFI’s YouTube channel on Thursday at 8 p.m.

Todd McCarthy The most striking, urgent, up-to-the-minute film I’ve seen this week was directed by Spike Lee. It speaks to the moment, pulses with turbulent emotional and political currents, overflows with vibrant characters and bluntly confronts society’s painful unfinished business.

In announcing its latest Movie Club selection, the American Film Institute packed in a bit more news. The organization is partnering with Universal Pictures to offer free rentals of Spike Lee's Do the Right Thing and will feature the filmmaker in conversation on Thursday.