Censoring Streamers
Malaysia’s Home Minister Saifuddin Nasution Ismail has said that he plans to hold meetings with the Communications Ministry with a view to extending the remit of the country’s Film Censorship Board (Lpf) to video streamers. Currently, the Lpf has jurisdiction over theatrical releases, but not content carried on the internet.
Malaysia has been notable in demanding cuts – sometimes refused by rights holders – to imported and local films, especially where they touch on religion or homosexuality, even tangentially. Hollywood films “Thor” and “Lightyear” were both banned. Last year, local director Amanda Nell Eu denounced the censored cut of her prize-winning film “Tiger Stripes.”
Speaking in parliament, Saifuddin said “the Lpf will not approve the screening of any films that promote LGBTQ, communism, Islamophobia, and those conflicting Islamic beliefs.”
VFX Investment
Japanese broadcaster TBS Holdings has announced “a significant capital investment” in Megalis a Tokyo-based VFX production company...
Malaysia’s Home Minister Saifuddin Nasution Ismail has said that he plans to hold meetings with the Communications Ministry with a view to extending the remit of the country’s Film Censorship Board (Lpf) to video streamers. Currently, the Lpf has jurisdiction over theatrical releases, but not content carried on the internet.
Malaysia has been notable in demanding cuts – sometimes refused by rights holders – to imported and local films, especially where they touch on religion or homosexuality, even tangentially. Hollywood films “Thor” and “Lightyear” were both banned. Last year, local director Amanda Nell Eu denounced the censored cut of her prize-winning film “Tiger Stripes.”
Speaking in parliament, Saifuddin said “the Lpf will not approve the screening of any films that promote LGBTQ, communism, Islamophobia, and those conflicting Islamic beliefs.”
VFX Investment
Japanese broadcaster TBS Holdings has announced “a significant capital investment” in Megalis a Tokyo-based VFX production company...
- 3/22/2024
- by Patrick Frater
- Variety Film + TV
Cineworld Group, the world’s second largest theater circuit, said today it’s completed its executive team following the 2023 appointment of CEO Eduardo Acuna after the company emerged from bankruptcy.
Thomas Song of Dine Brands and Aimbridge Hospitality joined as CFO last December. Since then, Cineworld has tapped former Warner Bros. Discovery executive Ben Hill as head of Hr and John Henrich as general counsel. Javier Sotomayor joins from Cinepolis as president of Cineworld International. John Curry is promoted to SVP, Commercial.
“With their combined industry experience, leadership and communication skills, we are well-positioned to lead the best team in exhibition driving growth and success for Cineworld Group on a global level, Acuna said.
Hill worked across most divisions of the company that is now Warner Bros. Discovery, including Warner Bros. Motion Pictures, Warner Bros. Television, HBO, and CNN leading programs in talent acquisition, organizational development, talent management, compensation, benefits,...
Thomas Song of Dine Brands and Aimbridge Hospitality joined as CFO last December. Since then, Cineworld has tapped former Warner Bros. Discovery executive Ben Hill as head of Hr and John Henrich as general counsel. Javier Sotomayor joins from Cinepolis as president of Cineworld International. John Curry is promoted to SVP, Commercial.
“With their combined industry experience, leadership and communication skills, we are well-positioned to lead the best team in exhibition driving growth and success for Cineworld Group on a global level, Acuna said.
Hill worked across most divisions of the company that is now Warner Bros. Discovery, including Warner Bros. Motion Pictures, Warner Bros. Television, HBO, and CNN leading programs in talent acquisition, organizational development, talent management, compensation, benefits,...
- 3/21/2024
- by Jill Goldsmith
- Deadline Film + TV
Eduardo Acuna, who’s kept a low profile since taking the top job at Cineworld last summer, took a bow in NYC this week to showcase the world’s largest 4Dx auditorium at the renovated Regal Times Square.
The exhibitor partnered with Cj 4Dplex, a cinema tech innovator of cutting-edge formats like this one that uses immersive audio, motion, environmental effects like water, wind and lightning. It’s the biggest 4Dx auditorium in the word with 296 seats, more than double the average, 60-foot screens, fog machines and rainstorm fans.
Renovations to the former flagship started years ago but accelerated over the past six months. “We needed to open this. We had already put so much money into it. I can tell you that it was significantly more than we expected. It was significantly over budget. But I also don’t regret it. I think we needed to go big here,...
The exhibitor partnered with Cj 4Dplex, a cinema tech innovator of cutting-edge formats like this one that uses immersive audio, motion, environmental effects like water, wind and lightning. It’s the biggest 4Dx auditorium in the word with 296 seats, more than double the average, 60-foot screens, fog machines and rainstorm fans.
Renovations to the former flagship started years ago but accelerated over the past six months. “We needed to open this. We had already put so much money into it. I can tell you that it was significantly more than we expected. It was significantly over budget. But I also don’t regret it. I think we needed to go big here,...
- 2/29/2024
- by Jill Goldsmith
- Deadline Film + TV
Eduardo Acuna, CEO of Regal Cinemas owner Cineworld Group, says his movie theater chain is well-positioned for post-pandemic and post-bankruptcy growth amid Hollywood’s box office recovery.
“I think it’s a very pivotal moment in our history,” Acuna told The Hollywood Reporter in an interview on Wednesday via Zoom while seated in a giant 4Dx auditorium opening at Regal Times Square in New York City, in time for Dune: Part Two to debut on his screens this weekend.
He pointed to the trio of shocks the Cineworld Group sustained due to theater shutdowns during the pandemic, entering and then exiting Chapter 11 bankruptcy protection in the U.S. and more recently the impact of the dual strikes on its supply of tentpole movies from key studio suppliers.
“It shows how much we believe in this industry,” Acuna said of investing in South Korean theater chain Cj Cgv’s 4Dx technology after Cineworld gained new owners,...
“I think it’s a very pivotal moment in our history,” Acuna told The Hollywood Reporter in an interview on Wednesday via Zoom while seated in a giant 4Dx auditorium opening at Regal Times Square in New York City, in time for Dune: Part Two to debut on his screens this weekend.
He pointed to the trio of shocks the Cineworld Group sustained due to theater shutdowns during the pandemic, entering and then exiting Chapter 11 bankruptcy protection in the U.S. and more recently the impact of the dual strikes on its supply of tentpole movies from key studio suppliers.
“It shows how much we believe in this industry,” Acuna said of investing in South Korean theater chain Cj Cgv’s 4Dx technology after Cineworld gained new owners,...
- 2/28/2024
- by Etan Vlessing
- The Hollywood Reporter - Movie News
Cineworld has named Thomas Song its chief financial officer overseeing the group’s finance and accounting management and with a leadership role in the company’s strategic planning and analytics.
“After an extensive search, we are proud to announce Tom Song as our new CFO,” said Eduardo Acuna, the CEO of Cineworld. He was named earlier this year as the global exhibitor emerged from bankruptcy and its previous owners and executives led by former chief Moody Greidinger exited. The company has been pretty quiet since.
“Tom provides our team with a history of achievement and true insights into financial management, analytics, and strategic planning. With this background along with our talented finance team, he is the perfect leader to deliver a strategic financial vision that will drive growth and success for Cineworld Group,” Acuna said.
Song most recently served as CFO of global hotel management company Aimbridge Hospitality. Previously, he...
“After an extensive search, we are proud to announce Tom Song as our new CFO,” said Eduardo Acuna, the CEO of Cineworld. He was named earlier this year as the global exhibitor emerged from bankruptcy and its previous owners and executives led by former chief Moody Greidinger exited. The company has been pretty quiet since.
“Tom provides our team with a history of achievement and true insights into financial management, analytics, and strategic planning. With this background along with our talented finance team, he is the perfect leader to deliver a strategic financial vision that will drive growth and success for Cineworld Group,” Acuna said.
Song most recently served as CFO of global hotel management company Aimbridge Hospitality. Previously, he...
- 12/7/2023
- by Jill Goldsmith
- Deadline Film + TV
Eduardo Acuna was appointed to take over as Cineworld Group CEO last month.
Moshe ‘Mooky’ Greidinger and his brother Israel Greidinger have resigned from their roles with Cineworld Group, bringing to an end a nine-year association with the exhibition chain.
On Monday, July 31, Mooky and Israel resigned as directors of Cineworld Cinemas Holdings Ltd, Cineworld Cinemas Ltd, Cineworld Cinema Properties Ltd, Cine-uk Ltd and Picturehouse Cinemas Ltd, according to Companies House records.
Mooky had been CEO of Cineworld since May 2014; but, alongside Israel as deputy CEO and chief commercial officer Renana Teperberg, secured a combined payout last month approaching $35m...
Moshe ‘Mooky’ Greidinger and his brother Israel Greidinger have resigned from their roles with Cineworld Group, bringing to an end a nine-year association with the exhibition chain.
On Monday, July 31, Mooky and Israel resigned as directors of Cineworld Cinemas Holdings Ltd, Cineworld Cinemas Ltd, Cineworld Cinema Properties Ltd, Cine-uk Ltd and Picturehouse Cinemas Ltd, according to Companies House records.
Mooky had been CEO of Cineworld since May 2014; but, alongside Israel as deputy CEO and chief commercial officer Renana Teperberg, secured a combined payout last month approaching $35m...
- 8/2/2023
- by Ben Dalton
- ScreenDaily
Cinema giant and Regal Entertainment owner Cineworld has successfully completed its financial restructuring process and emerged from its Chapter 11 bankruptcy cases in the U.S. The exhibition company unveiled the news late on Monday along with new board members, including former Warner Bros. top executive Ann Sarnoff.
Shareholders have been wiped out as part of the financial restructuring, with a new, incorporated company controlled by lenders now controlling Cineworld. The movie theater chain and its various parts reduced their indebtedness by approximately $4.53 billion, raised approximately $800 million in new equity capital, and secured new debt financing worth approximately $1.71 billion. “With this strengthened and recapitalized balance sheet, the group is well-positioned to pursue future strategic initiatives and continue providing leading cinematic experiences for customers globally, including through investments in new screen formats and enhancements to its flagship theaters,” the company said.
Earlier in the day, Cineworld had named an administrator in the U.
Shareholders have been wiped out as part of the financial restructuring, with a new, incorporated company controlled by lenders now controlling Cineworld. The movie theater chain and its various parts reduced their indebtedness by approximately $4.53 billion, raised approximately $800 million in new equity capital, and secured new debt financing worth approximately $1.71 billion. “With this strengthened and recapitalized balance sheet, the group is well-positioned to pursue future strategic initiatives and continue providing leading cinematic experiences for customers globally, including through investments in new screen formats and enhancements to its flagship theaters,” the company said.
Earlier in the day, Cineworld had named an administrator in the U.
- 8/1/2023
- by Georg Szalai
- The Hollywood Reporter - Movie News
Former WarnerMedia Studios and Networks Group chair and CEO Ann Sarnoff has joined the board of directors of Cineworld as the group emerges from Chapter 11 cases.
Cineworld Group and its subsidiaries had commenced Chapter 11 cases in the United States Bankruptcy Court in September 2022. On Aug. 1, 2023, the group, which operates the Regal cinemas chain in the U.S., said it had successfully completed its financial restructuring process and had emerged from its Chapter 11 cases.
While existing shareholders are largely wiped out, the restructuring moves include an $800 million rights issue to raise new capital, the release of some $4.35 billion of the group’s funded indebtedness and the provision of $1.71 billion of new debt financing. Within those new borrowings is a revolving credit facility of $250 million.
“With this strengthened and recapitalized balance sheet, the group is well-positioned to pursue future strategic initiatives and continue providing leading cinematic experiences for customers globally, including through...
Cineworld Group and its subsidiaries had commenced Chapter 11 cases in the United States Bankruptcy Court in September 2022. On Aug. 1, 2023, the group, which operates the Regal cinemas chain in the U.S., said it had successfully completed its financial restructuring process and had emerged from its Chapter 11 cases.
While existing shareholders are largely wiped out, the restructuring moves include an $800 million rights issue to raise new capital, the release of some $4.35 billion of the group’s funded indebtedness and the provision of $1.71 billion of new debt financing. Within those new borrowings is a revolving credit facility of $250 million.
“With this strengthened and recapitalized balance sheet, the group is well-positioned to pursue future strategic initiatives and continue providing leading cinematic experiences for customers globally, including through...
- 8/1/2023
- by Naman Ramachandran
- Variety Film + TV
Cineworld, owner of the Regal Cinemas movie theater chain, announced Monday that it has emerged from bankruptcy following a restructuring that among other things includes the incorporation of a new parent company, still called Cineworld.
The company has also announced a new board of directors whose members include former Warner Bros. CEO Ann Sarnoff.
With its restructuring, Cineworld said in a statement Monday that it has reduced its funded indebtedness by more than $4.5 billion, has “raised approximately $88 million in new equity capital,” and secured around $1.71 billion in new debt financing, which includes $250 million of revolving credit.
“With this strengthened and recapitalized balance sheet, the Group is well-positioned to pursue future strategic initiatives and continue providing leading cinematic experiences for customers globally, including through investments in new screen formats and enhancements to its flagship theatres,” the company said.
Alongside Eduardo Acuna, who was named Cineworld CEO June 13, and Eric Foss, who...
The company has also announced a new board of directors whose members include former Warner Bros. CEO Ann Sarnoff.
With its restructuring, Cineworld said in a statement Monday that it has reduced its funded indebtedness by more than $4.5 billion, has “raised approximately $88 million in new equity capital,” and secured around $1.71 billion in new debt financing, which includes $250 million of revolving credit.
“With this strengthened and recapitalized balance sheet, the Group is well-positioned to pursue future strategic initiatives and continue providing leading cinematic experiences for customers globally, including through investments in new screen formats and enhancements to its flagship theatres,” the company said.
Alongside Eduardo Acuna, who was named Cineworld CEO June 13, and Eric Foss, who...
- 8/1/2023
- by Ross A. Lincoln
- The Wrap
Regal parent Cineworld has officially emerged from bankruptcy, unveiling five new board members and a strengthened balance sheet. The chain, which was flattened by Covid and high debt, filed for Chapter 11 in the Southern District of Texas last September.
It exits today having reduced that debt by about $4.53 billion and raised $800 million in new equity capital. The restructuring also saw it secure new debt financing of $1.71 billion, including a new $250- million revolving credit facility. “With this strengthened and recapitalized balance sheet, the Group is well-positioned to pursue future strategic initiatives and continue providing leading cinematic experiences for customers globally,” the company said in a statement.
As previously announced, Eduardo Acuna, former president of Cinépolis Americas and Cinépolis Do Brazil, is stepping in to replace Mooky Greidinger as chief executive Eric Foss, former CEO of Pepsi Bottling Group and Aramark, is chairman of the board.
They’re joined by additional new directors,...
It exits today having reduced that debt by about $4.53 billion and raised $800 million in new equity capital. The restructuring also saw it secure new debt financing of $1.71 billion, including a new $250- million revolving credit facility. “With this strengthened and recapitalized balance sheet, the Group is well-positioned to pursue future strategic initiatives and continue providing leading cinematic experiences for customers globally,” the company said in a statement.
As previously announced, Eduardo Acuna, former president of Cinépolis Americas and Cinépolis Do Brazil, is stepping in to replace Mooky Greidinger as chief executive Eric Foss, former CEO of Pepsi Bottling Group and Aramark, is chairman of the board.
They’re joined by additional new directors,...
- 8/1/2023
- by Jill Goldsmith
- Deadline Film + TV
Board members include former Warner Bros CEO Ann Sarnoff
Cineworld emerged as expected from Chapter 11 bankruptcy protection on Monday (July 31) and named a new board of directors including former Warner Bros CEO Ann Sarnoff.
The move came after Friday’s suspension of the exhibitor’s shares on the London stock exchange and marks the completion of the beleaguered company’s financial restructuring.
Eric Foss, the previously announced chairperson of the new board, said in a statement that with “a transformed balance sheet and a right-sized capital structure, Cineworld is ready and fully able to succeed in this dynamic and constantly changing movie theatre industry.
Cineworld emerged as expected from Chapter 11 bankruptcy protection on Monday (July 31) and named a new board of directors including former Warner Bros CEO Ann Sarnoff.
The move came after Friday’s suspension of the exhibitor’s shares on the London stock exchange and marks the completion of the beleaguered company’s financial restructuring.
Eric Foss, the previously announced chairperson of the new board, said in a statement that with “a transformed balance sheet and a right-sized capital structure, Cineworld is ready and fully able to succeed in this dynamic and constantly changing movie theatre industry.
- 8/1/2023
- by John Hazelton
- ScreenDaily
Updated: The Cineworld cinema chain entered administration as expected on July 31. Simon J. Appell, Ian J. Partridge and Catherine M Williamson of AlixPartners U.K. Llp have been appointed as joint administrators of the group. From Aug. 1, the company’s shares will no longer be listed and traded on the London Stock Exchange.
“The restructuring of the group, which will be implemented by way of the administration process, will transform the group’s balance sheet and provide it with significant additional liquidity to fund its long-term strategy,” Cineworld said in a statement.
Previously: The multinational Cineworld cinema chain has secured a new revolving credit facility of $250 million as part of its restructuring process.
Cineworld recently revealed details of a planned restructuring that will allow it to exit U.S. Chapter 11 bankruptcy strictures. The U.K.-listed company owns or operates cinemas in the U.K., continental Europe and the U.
“The restructuring of the group, which will be implemented by way of the administration process, will transform the group’s balance sheet and provide it with significant additional liquidity to fund its long-term strategy,” Cineworld said in a statement.
Previously: The multinational Cineworld cinema chain has secured a new revolving credit facility of $250 million as part of its restructuring process.
Cineworld recently revealed details of a planned restructuring that will allow it to exit U.S. Chapter 11 bankruptcy strictures. The U.K.-listed company owns or operates cinemas in the U.K., continental Europe and the U.
- 7/31/2023
- by Naman Ramachandran
- Variety Film + TV
Empire Cinemas closed six sites in early July.
Rival operators are circling the six English cinemas closed after the Empire Cinemas chain went into administration in early July, Screen has learned.
The Light Cinemas, Parkway Cinemas and Merlin Cinemas, all from the UK, along with Ireland’s Omniplex Cinema and Arc Cinemas are all understood to be considering taking over the sites. They are in Walthamstow, Wigan, Catterick Garrison, Sunderland, Swindon and Bishops Stortford.
Seven other Empire sites remain open while the Empire Sutton Coldfield has been closed since the Covid lockdown of late 2020.
“I believe that with a little bit of investment,...
Rival operators are circling the six English cinemas closed after the Empire Cinemas chain went into administration in early July, Screen has learned.
The Light Cinemas, Parkway Cinemas and Merlin Cinemas, all from the UK, along with Ireland’s Omniplex Cinema and Arc Cinemas are all understood to be considering taking over the sites. They are in Walthamstow, Wigan, Catterick Garrison, Sunderland, Swindon and Bishops Stortford.
Seven other Empire sites remain open while the Empire Sutton Coldfield has been closed since the Covid lockdown of late 2020.
“I believe that with a little bit of investment,...
- 7/28/2023
- by Geoffrey Macnab
- ScreenDaily
Cineworld said on Friday that it will suspend its listing on the London Stock Exchange as part of plans to restructure its business and accounts to reduce heavy debt.
The company revealed last month that it would file for administration in the UK. The world’s second-biggest cinema chain, which owns Regal in the U.S., filed for bankruptcy protection in the U.S. in September.
As part of today’s statement, Cineworld bosses also said the company had secured a new $250m credit facility to help finance its restructuring. The proposed restructuring plans are expected to provide the company with significant additional liquidity to fund its long-term strategy. In particular, it will involve the release of approximately $4.53 billion of the group’s funded indebtedness, the execution of a rights offering to raise gross proceeds of $800 million, and the provision of $1.46 billion in new debt financing.
“The Restructuring, when implemented...
The company revealed last month that it would file for administration in the UK. The world’s second-biggest cinema chain, which owns Regal in the U.S., filed for bankruptcy protection in the U.S. in September.
As part of today’s statement, Cineworld bosses also said the company had secured a new $250m credit facility to help finance its restructuring. The proposed restructuring plans are expected to provide the company with significant additional liquidity to fund its long-term strategy. In particular, it will involve the release of approximately $4.53 billion of the group’s funded indebtedness, the execution of a rights offering to raise gross proceeds of $800 million, and the provision of $1.46 billion in new debt financing.
“The Restructuring, when implemented...
- 7/28/2023
- by Zac Ntim
- Deadline Film + TV
The move coincides with a healthy recovery at the box office in China.
Imax has announced plans to take full control of its publicly traded China subsidiary through a take-private deal valued at $124m as China’s box office continues to show a healthy recovery post-pandemic.
The exhibition company has filed a proposal to buy out its Hong Kong-listed subsidiary, which was established by Imax to oversee its business in Greater China. If approved, Imax will take 100% ownership of Imax China, which will enhance operational flexibility for new growth opportunities and cut annual public company costs by about $2m, according to a company statement.
Imax has announced plans to take full control of its publicly traded China subsidiary through a take-private deal valued at $124m as China’s box office continues to show a healthy recovery post-pandemic.
The exhibition company has filed a proposal to buy out its Hong Kong-listed subsidiary, which was established by Imax to oversee its business in Greater China. If approved, Imax will take 100% ownership of Imax China, which will enhance operational flexibility for new growth opportunities and cut annual public company costs by about $2m, according to a company statement.
- 7/13/2023
- by Silvia Wong
- ScreenDaily
Acuna has been president of Cinépolis since 2015.
Cineworld Group has appointed Eduardo Acuna, current president of Cinépolis, as its new CEO.
Acuna will lead the new parent company of the group (NewCo), created as part of the restricting plan unveiled that saw the embattled exhibition giant file for bankruptcy in the UK in June. He will replace CEO Mooky Greidinger.
As previously announced, former Pepsi executive Eric Foss will become chairperson of the NewCo, which will become sole owner of the group when Cineworld and conclude their Chapter 11 cases, currently expected to take place in July.
Acuna joined Cinépolis Americas,...
Cineworld Group has appointed Eduardo Acuna, current president of Cinépolis, as its new CEO.
Acuna will lead the new parent company of the group (NewCo), created as part of the restricting plan unveiled that saw the embattled exhibition giant file for bankruptcy in the UK in June. He will replace CEO Mooky Greidinger.
As previously announced, former Pepsi executive Eric Foss will become chairperson of the NewCo, which will become sole owner of the group when Cineworld and conclude their Chapter 11 cases, currently expected to take place in July.
Acuna joined Cinépolis Americas,...
- 7/13/2023
- by Orlando Parfitt
- ScreenDaily
Cineworld lenders have agreed to appoint Cinépolis executive Eduardo Acuna as the CEO of the newly incorporated parent company of the Regal Theaters owner.
The announcement was made as part of Cineworld’s proposed restructuring following Chapter 11, under which the so-called NewCo will become the sole owner of the exhibition group.
Eric Foss, the former boss of the Pepsi Beverages Company, is expected to become Chairperson of NewCo.
He said Acuna, who runs the Americas operations of Mexican theatre company Cinépolis, would bring “significant industry experience and a proven track record.”
Foss added: “I am confident that under Eduardo’s leadership, Cineworld is well positioned to reach new heights and continue to grow its global business and further enhance its cinemas for guests around the world.”
Acuna said: “With audiences continuing to show how much they love the theatre experience; this is an incredible time for Cineworld.”...
The announcement was made as part of Cineworld’s proposed restructuring following Chapter 11, under which the so-called NewCo will become the sole owner of the exhibition group.
Eric Foss, the former boss of the Pepsi Beverages Company, is expected to become Chairperson of NewCo.
He said Acuna, who runs the Americas operations of Mexican theatre company Cinépolis, would bring “significant industry experience and a proven track record.”
Foss added: “I am confident that under Eduardo’s leadership, Cineworld is well positioned to reach new heights and continue to grow its global business and further enhance its cinemas for guests around the world.”
Acuna said: “With audiences continuing to show how much they love the theatre experience; this is an incredible time for Cineworld.”...
- 7/13/2023
- by Jake Kanter
- Deadline Film + TV
Cinepolis president Eduardo Acuna is set to be the new CEO of the Cineworld group.
In June, the Cineworld group, which owns Regal Cinemas in the U.S., confirmed that its planned reorganization is going ahead and revealed plans for a new board led by former Pepsi chair Eric Foss. On Thursday, lenders to the indebted cinema chain agreed on terms to appoint Acuna as CEO of the newly incorporated parent company of the group.
Acuna has served as president of Cinépolis Americas since 2015, and has worked at Cinépolis, the third largest theatrical exhibition circuit in the world, since 2005. In his current role, he heads all operations for Cinépolis in 11 countries across North America and South America. Previously, he served as president and CEO of Cinépolis Brazil. Prior to Cinépolis, Acuna held positions at McKinsey & Company in Mexico and Argentina, Goldman Sachs in New York, the Bank of Mexico...
In June, the Cineworld group, which owns Regal Cinemas in the U.S., confirmed that its planned reorganization is going ahead and revealed plans for a new board led by former Pepsi chair Eric Foss. On Thursday, lenders to the indebted cinema chain agreed on terms to appoint Acuna as CEO of the newly incorporated parent company of the group.
Acuna has served as president of Cinépolis Americas since 2015, and has worked at Cinépolis, the third largest theatrical exhibition circuit in the world, since 2005. In his current role, he heads all operations for Cinépolis in 11 countries across North America and South America. Previously, he served as president and CEO of Cinépolis Brazil. Prior to Cinépolis, Acuna held positions at McKinsey & Company in Mexico and Argentina, Goldman Sachs in New York, the Bank of Mexico...
- 7/13/2023
- by Naman Ramachandran
- Variety Film + TV
Cineworld lenders have agreed to appoint Eduardo Acuna as CEO of the newly incorporated parent company of the group, the so-called “NewCo,” as of the effective date of the cinema giant’s plan of reorganization, the company said on Thursday.
The plan, developed after the exhibitor’s Chapter 11 bankruptcy filing, was confirmed by the United States Bankruptcy Court for the Southern District of Texas, Houston Division on June 28. The plan calls for NewCo to become the sole owner of the company upon the emergence of Cineworld and certain of its subsidiaries from their Chapter 11 cases, which is currently expected to happen in July.
The current Cineworld CEO is Moshe “Mooky” Greidinger.
Eric Foss has been selected to become chairman of the board of NewCo, the company previously unveiled. “Cineworld understands that a selection process for the remaining members of the Newco board is ongoing,” the company said on Thursday.
“Eduardo...
The plan, developed after the exhibitor’s Chapter 11 bankruptcy filing, was confirmed by the United States Bankruptcy Court for the Southern District of Texas, Houston Division on June 28. The plan calls for NewCo to become the sole owner of the company upon the emergence of Cineworld and certain of its subsidiaries from their Chapter 11 cases, which is currently expected to happen in July.
The current Cineworld CEO is Moshe “Mooky” Greidinger.
Eric Foss has been selected to become chairman of the board of NewCo, the company previously unveiled. “Cineworld understands that a selection process for the remaining members of the Newco board is ongoing,” the company said on Thursday.
“Eduardo...
- 7/13/2023
- by Georg Szalai
- The Hollywood Reporter - Movie News
As Regal parent Cineworld prepares to exit Chapter 11 this month, rumors are heating up over who will emerge as the giant theater chain’s new chief executive, with reports Monday pointing to Eduardo Acuna of Cinepolis.
Longtime Cineworld CEO Mooky Greidinger has a consulting contract during a transition period but isn’t likely to stay in the top job. Speculation on potential candidates escalated during the CineEurope trade show and Deadline understands that the new owners – who are now Cineworld lenders – have contacted the heads of a number of global exhibitors. Sky News reported today that Acuna of Cinepolis is one.
Other industry players have heard there’s been outreach to former Regal executives.
Amy Miles and Gregg Dunn were CEO and COO, respectively, of the company until 2018, when Cineworld acquired the Knoxville, Tn.-based chain. Mike Campbell was CEO previously.
Cineworld filed for bankruptcy in U.S. District Court...
Longtime Cineworld CEO Mooky Greidinger has a consulting contract during a transition period but isn’t likely to stay in the top job. Speculation on potential candidates escalated during the CineEurope trade show and Deadline understands that the new owners – who are now Cineworld lenders – have contacted the heads of a number of global exhibitors. Sky News reported today that Acuna of Cinepolis is one.
Other industry players have heard there’s been outreach to former Regal executives.
Amy Miles and Gregg Dunn were CEO and COO, respectively, of the company until 2018, when Cineworld acquired the Knoxville, Tn.-based chain. Mike Campbell was CEO previously.
Cineworld filed for bankruptcy in U.S. District Court...
- 7/3/2023
- by Jill Goldsmith and Anthony D'Alessandro
- Deadline Film + TV
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