Movie Theater's Crisis Mode | AMC, Cinemark Need Cash скачать в хорошем качестве

Movie Theater's Crisis Mode | AMC, Cinemark Need Cash

Support Thinking Critical at Ko-fi. Monthly subscriptions receive bonus content and early access to some channel content. Ko-fi.com/thinkingcritical Thank you for supporting the channel! Thinking Critical Discord:   / discord   Twitch Channel   / thinking_critical_yt   AMC Theatres Downgraded Over "Minimal Liquidity Options" as Stock Tumbles https://www.hollywoodreporter.com/new... 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. Wold cited a recent New York Post story indicating AMC was in talks to hire a bankruptcy law firm. The analyst echoed earlier share price downgrades for AMC Theatres in pointing to a high debt load that made a restructuring of the company's balance sheet a mounting challenge. The analyst added that AMC Theatres' debt woes were only compounded by around $250 million paid in rent each financial quarter to landlords to operate its multiplexes, and the "potential inflexibility" to defer or restructure those rent payments. Amid Cash Crunch, AMC Theatres Plans to Raise $500 Million in Private Offering https://www.hollywoodreporter.com/new... Cash-strapped exhibitor AMC Entertainment on Thursday said it will raise $500 million in new debt to bolster its balance sheet liquidity. AMC said in a supplemental disclosure that it is generating no revenue while its U.S. theaters are shut down. As of March 31, the chain said it had $299.8 million in cash on hand, including borrowings of $215.0 million drawn from a revolving line of credit facility, and another 89.2 million pounds tapped from another revolving credit facility for Odeon Cinemas in the U.K. In the SEC filing, AMC disclosed it requires waivers from its revolver lenders to avoid breaching its 6x secured leverage ratios under debt covenants when tested beyond March 31, 2020. And securing those waivers would be required to complete its $500 million senior notes offering. Cinemark Raising $250 Million in Debt Offering Amid Virus Crisis https://www.hollywoodreporter.com/new... inema theater chain Cinemark Holdings has gone to the debt market for fresh cash amid the novel coronavirus pandemic. The exhibition giant on Monday said it has launched a private offering for $250 million in senior secured notes due 2025. The move follows Fitch Ratings on April 9 downgrading the credit rating for Cinemark over concerns that current theater closures amid the COVID-19 crisis will last until June "at the earliest." That was followed on April 13 by Moody's Investors Service also downgrading Cinemark's credit rating to B2 from B1, with a negative outlook, over a "likelihood that leverage will remain elevated above the mid-3X range over the next two years given the cinema industry's current operational challenges," the rival rating agency said in an investors note. Hollywood's Virus Relief Efforts Slow to Materialize So Far https://www.hollywoodreporter.com/new... On March 12, Broadway shut down, leaving thousands of performers and stagehands out of work. In the aftermath, Madam Secretary actor Erich Bergen called Rosie O'Donnell with a plan to help those in need. "He said right from the get-go to do it as a benefit for The Actors Fund," O'Donnell recalls. "They give you actual money so you can live. That's what we want." But since the March 22 live-streamed event — which featured performances by Kristin Chenoweth, Tituss Burgess and Darren Criss and raised $600,000 for the fund — the number of Hollywood figures stepping up to assist less-fortunate industryites appears to have slowed even as hundreds of thousands of showbiz rank and file remain out of work. White House Issues Guidelines for Cinemas, Large Venues to Reopen https://www.cbr.com/white-house-issue... The White House has revealed its plans for reopening facilities that have been closed or otherwise affected by the coronavirus pandemic, including movie theaters and other large venues. There will be three phases for reviving the economy. The first phase revolves around reopening movie theaters; schools and bars would remain closed and gyms would be allowed to reopen, on the grounds that they have proper sanitation procedures and social distancing measures in place. Individuals will continue to work from home, and travel will only be limited to essential trips. Social distancing would be moderate in the second phase, and limited protocols would be implemented in the third phase. #amctheatre #cinemark #covid19 Contact Thinking Critical: Twitter:   / wes_from_tc   Email wesdigscomics@gmail.com