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Entertainment Cinemark Set to Reopen Movie Theaters on July 24 With Classic Hollywood Films

16:33  30 june  2020
16:33  30 june  2020 Source:   thewrap.com

Cinemark Reports $59.6 Million Loss in COVID-19 Impacted First Quarter

  Cinemark Reports $59.6 Million Loss in COVID-19 Impacted First Quarter Cinemark Holdings reported financial results for the first quarter on Wednesday that the company said were impacted by the ongoing novel coronavirus pandemic, which has kept the cinema chain's theaters closed since March — though it appears the worst is yet to come. The theater chain reported a net loss of $59.6 million for the three-month period ending March 31, or a loss per share of 51 cents. Analysts following the stock via Yahoo! Finance were expecting a loss of 18 cents in the quarter. That after reporting net income of $32.7, or earnings per share of 28 cents during the same quarter a year ago. Revenue for the first quarter was $543.6 million, down from $714.

Movie theaters in Los Angeles and New York City hope to reopen on July 10 in a key development Movie theaters are currently part of the Phase Four reopening plan for businesses, but there's a Regal says it will initially offer classic titles — such as the Harry Potter films — at a discounted price

About 9 of 10 movie theaters could reopen by mid- July , although it's The Warner Bros. thriller, the latest from arguably Hollywood 's most passionate defender of the The Russell Crowe thriller "Unhinged," from Solstice Studios, is also set for July 1. Shortly after The prolonged closure has had a crushing effect on theater chains, forcing the furloughing and firing of tens of thousands of workers.

a sign on the side of a building: cinemark century © TheWrap cinemark century

Cinemark on Tuesday announced plans to begin reopening its movie theaters on July 24 with a series of classic Hollywood movies.

The nation's third largest exhibitor based its plans on results from reopening five theaters in the Dallas area where the company is based.

While the reopening of movie theaters continues to shift due to state and local ordinances as well as a shifting release calendar, the first Hollywood films are currently expected to roll out on July 31 with the Russell Crowe thriller "Unhinged," followed by the rom-com "The Broken Hearts Gallery" on Aug. 7.

Cinemark Won't Require Moviegoers to Wear Masks When Theaters Reopen

  Cinemark Won't Require Moviegoers to Wear Masks When Theaters Reopen Cinemark Holdings, on Wednesday, laid out its health and safety plan for reopening its theaters during a call with Wall Street analysts and said, among other things, that it will require all of its employees to wear masks, but not guests. "We have been intensely focused in developing enhanced health and safety protocols, understanding that these factors will weigh heavily on the confidence and peace of mind of our employees, guests and community as we reopen our theaters," Cinemark CEO Mark Zoradi said during the conference call, which was live-streamed. "[We will be] requiring all employees to wear face masks and encouraging guests to do the same.

But theatre owners are not pleased with Bollywood's digital-first move. In a statement, Mohan Umrotkar, CEO, Carnival Cinema, expressed disappointment that this comes at During the lockdown we have participated in many surveys to realize that the audience is waiting for cinemas to reopen .

Movie theaters closed their doors around the world in mid-March to help curb the spread of the Despite the green light, production on most Hollywood films and television shows is not expected to AT&T Inc's Warner Bros. currently plans to release Christopher Nolan's thriller "Tenet" on July 17

As a result of the recent shifts in new theatrical releases, Regal Cinemas owner Cineworld just pushed back its theater reopening to July 31.

"Cinemark is pleased with the moviegoer response and key learnings from our initial five-theater test-and-learn phase in the Dallas area, and we look forward to welcoming movie fans back into our auditoriums across the country to enjoy this year's newest films," Cinemark CEO Mark Zoradi said in a statement. "Our multi-phased reopening plan was thoughtfully designed with multiple contingencies in place that enable us to efficiently adapt to today's ever-changing environment. We continue to pay close attention to status of the virus, local mandates and availability of new content while prioritizing the health and safety of our guests, employees and communities."

Cinemark has increased its cleaning and safety protocols, designating a "chief clean and safety monitor" at each theater to insure best practices are maintained.

The company, based in Plano, Texas, operates 555 theaters with 6,145 screens in 41 states domestically and 15 countries throughout South and Central America.

AMC Shifts Theater Reopening Schedule After 'Mulan,' 'Tenet' Move .
Following the move of "Mulan" and "Tenet" from a late July release date to mid-August, AMC Theaters announced on Monday that it is shifting its timetable for reopening its 600-plus theater circuit to coincide with the release of the two blockbusters. The majority of AMC's locations, approximately 450 theaters, will now reopen on July 30, the same weekend that Solstice Studios is set to release its indie thriller "Unhinged." The rest will openThe majority of AMC's locations, approximately 450 theaters, will now reopen on July 30, the same weekend that Solstice Studios is set to release its indie thriller "Unhinged.

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