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Entertainment Cinemark Pushes Reopening Date for Most Theaters to July 24

16:33  30 june  2020
16:33  30 june  2020 Source:   hollywoodreporter.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.

AMC Theatres is now pushing its planned reopening date back by two weeks to July 30. The world’s largest movie exhibition chain was set to begin a According to AMC Theatres , the company expects some 450 of its 600 theaters to be reopened on July 30, and more or less fully operational by early

AMC Theaters 's initial reopening date was scheduled for July 15. Adam Aron, the CEO and President of AMC Theaters said in a statement obtained by Deadline, that the Disney pushed back Mulan for the third time last week after it was originally set to debut in theaters in March and then July 24 amid the ongoing coronavirus pandemic. For more information or to donate, click here.

Cinemark Holdings is the latest major movie theater chain to adjust its phased reopening dates after the delay in the releases of Mulan and Tenet.

Cinemark said it will start reopening most of its circuit on July 24, with additional theaters also relaunching in the following weeks amid the coronavirus pandemic.

The country's third-largest exhibitor as part of a staggered reopening strategy opened a handful of Dallas locations on June 19, while most of its cinemas were to have opened for business between July 3 and July 17.

The latest dates move comes after the release of Christopher Nolan's Tenet was pushed back — for the second time — and is currently set for Aug. 12. In the wake Tenet's shift, Disney's Mulan, which was due for launch on July 24, is now being held until Aug. 21.

"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," Cinemark CEO Mark Zoradi said in a statement on Tuesday.

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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