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
Lewis John Carlino, an Oscar-nominated screenwriter, director, and playwright known for writing and directing “The Great Santini,” died on June 17 on Whidbey Island in Washington state, his family has announced. He was 88.
Carlino received an Oscar nomination with Gavin Lambert for best adapted screenplay for the 1978 drama “I Never Promised You a Rose Garden,” based on the novel by Joanne Greenberg. In 1979, he wrote and directed the screenplay for “The Great Santini,” from the novel by Pat Conroy. The film earned Academy Award nominations for Robert Duvall for his portrayal of a Marine pilot and for Michael O’Keefe as the son of Duvall’s character.
His screenwriting credits include John Frankenheimer’s “Seconds,” “The Sailor Who Fell From Grace With the Sea,” which he also directed and co-produced; “The Brotherhood,” starring Kirk Douglas; “The Mechanic,” starring Charles Bronson; and “Resurrection,” starring Ellen Burstyn. During production of “The Brotherhood,” he met Jilly Chadwick,...
Carlino received an Oscar nomination with Gavin Lambert for best adapted screenplay for the 1978 drama “I Never Promised You a Rose Garden,” based on the novel by Joanne Greenberg. In 1979, he wrote and directed the screenplay for “The Great Santini,” from the novel by Pat Conroy. The film earned Academy Award nominations for Robert Duvall for his portrayal of a Marine pilot and for Michael O’Keefe as the son of Duvall’s character.
His screenwriting credits include John Frankenheimer’s “Seconds,” “The Sailor Who Fell From Grace With the Sea,” which he also directed and co-produced; “The Brotherhood,” starring Kirk Douglas; “The Mechanic,” starring Charles Bronson; and “Resurrection,” starring Ellen Burstyn. During production of “The Brotherhood,” he met Jilly Chadwick,...
- 6/24/2020
- by Dave McNary
- Variety Film + TV
1966: Dark Shadows premiered on ABC.
1984: Guiding Light's Bert stood after losing her leg.
1995: One Life to Live's "Tommy" was enraged.
2003: Passions paid homage to the musical "Chicago"."History speaks to artists. It changes the artist's thinking and is constantly reshaping it into different and unexpected images."
― Anselm Kiefer
"Today in Soap Opera History" is a collection of the most memorable, interesting and influential events in the history of scripted, serialized programs. From birthdays and anniversaries to scandals and controversies, every day this column celebrates the soap opera in American culture.
On this date in...
1952: ABC Radio aired the final episode of Lone Journey after a 12 year run on multiple networks with multiple sponsors.
1955: On The Brighter Day, Lydia Hamilton (Murial Williams) struggled with her conscience after taking a silver clock.
1963: On Ben Jerrod, Agnes (Jeanne Baird) lost her temper for the second time.
1984: Guiding Light's Bert stood after losing her leg.
1995: One Life to Live's "Tommy" was enraged.
2003: Passions paid homage to the musical "Chicago"."History speaks to artists. It changes the artist's thinking and is constantly reshaping it into different and unexpected images."
― Anselm Kiefer
"Today in Soap Opera History" is a collection of the most memorable, interesting and influential events in the history of scripted, serialized programs. From birthdays and anniversaries to scandals and controversies, every day this column celebrates the soap opera in American culture.
On this date in...
1952: ABC Radio aired the final episode of Lone Journey after a 12 year run on multiple networks with multiple sponsors.
1955: On The Brighter Day, Lydia Hamilton (Murial Williams) struggled with her conscience after taking a silver clock.
1963: On Ben Jerrod, Agnes (Jeanne Baird) lost her temper for the second time.
- 6/27/2019
- by Roger Newcomb
- We Love Soaps
1968: Dark Shadows' Barnabas entombed Trasked.
1979: Ryan's Hope's Johnny said his peace.
1990: Gh's Robert, Sean & Anna learned Paget was Duke.
1992: All My Children's Donna & Chuck left Pine Valley."History speaks to artists. It changes the artist's thinking and is constantly reshaping it into d ifferent and unexpected images."
― Anselm Kiefer
"Today in Soap Opera History" is a collection of the most memorable, interesting and influential events in the history of scripted, serialized programs. From birthdays and anniversaries to scandals and controversies, every day this column celebrates the soap opera in American culture.
On this date in...
1968: On The Doctors, Dr. Matt Powers (James Pritchett) and Dr. Nick Bellini (Gerald Gordon) performed surgery on Nathan Bunker (House Jameson).
1968: On Dark Shadows, after forcing him to sign a confession stating Victoria Winters was not a witch, Barnabas Collins (Jonathan Frid) trapped Reverend Trask (Jerry Lacy) in...
1979: Ryan's Hope's Johnny said his peace.
1990: Gh's Robert, Sean & Anna learned Paget was Duke.
1992: All My Children's Donna & Chuck left Pine Valley."History speaks to artists. It changes the artist's thinking and is constantly reshaping it into d ifferent and unexpected images."
― Anselm Kiefer
"Today in Soap Opera History" is a collection of the most memorable, interesting and influential events in the history of scripted, serialized programs. From birthdays and anniversaries to scandals and controversies, every day this column celebrates the soap opera in American culture.
On this date in...
1968: On The Doctors, Dr. Matt Powers (James Pritchett) and Dr. Nick Bellini (Gerald Gordon) performed surgery on Nathan Bunker (House Jameson).
1968: On Dark Shadows, after forcing him to sign a confession stating Victoria Winters was not a witch, Barnabas Collins (Jonathan Frid) trapped Reverend Trask (Jerry Lacy) in...
- 3/5/2019
- by Roger Newcomb
- We Love Soaps
1977: Lovers and Friends premiered on NBC.
1980: Edge of Night's Cliff ate Mrs. Corey's soup.
1995: Days' Alice interrupted Bo and Billie's wedding.
2001: All My Children's Bianca was outed at the Crystal Ball."History speaks to artists. It changes the artist's thinking and is constantly reshaping it into different and unexpected images."
― Anselm Kiefer
"Today in Soap Opera History" is a collection of the most memorable, interesting and influential events in the history of scripted, serialized programs. From birthdays and anniversaries to scandals and controversies, every day this column celebrates the soap opera in American culture.
On this date in...
1938: Irna Phillips' radio soap opera Woman in White premiered on NBC Red. The show told the story of Karen Adams, a young nurse who dedicated her life to others, taking care of two young siblings after the death of her parents. Karen spent much of her time counseling others,...
1980: Edge of Night's Cliff ate Mrs. Corey's soup.
1995: Days' Alice interrupted Bo and Billie's wedding.
2001: All My Children's Bianca was outed at the Crystal Ball."History speaks to artists. It changes the artist's thinking and is constantly reshaping it into different and unexpected images."
― Anselm Kiefer
"Today in Soap Opera History" is a collection of the most memorable, interesting and influential events in the history of scripted, serialized programs. From birthdays and anniversaries to scandals and controversies, every day this column celebrates the soap opera in American culture.
On this date in...
1938: Irna Phillips' radio soap opera Woman in White premiered on NBC Red. The show told the story of Karen Adams, a young nurse who dedicated her life to others, taking care of two young siblings after the death of her parents. Karen spent much of her time counseling others,...
- 1/4/2019
- by Roger Newcomb
- We Love Soaps
1966: Dark Shadows premiered on ABC.
1984: Guiding Light's Bert stood after losing her leg.
1995: One Life to Live's "Tommy" was enraged.
2003: Passions paid homage to the musical Chicago."All true histories contain instruction; though, in some, the treasure may be hard to find, and when found, so trivial in quantity that the dry, shrivelled kernel scarcely compensates for the trouble of cracking the nut."
― Anne Brontë in "Agnes Grey"
"Today in Soap Opera History" is a collection of the most memorable, interesting and influential events in the history of scripted, serialized programs. From birthdays and anniversaries to scandals and controversies, every day this column celebrates the soap opera in American culture.
On this date in...
1952: ABC Radio aired the final episode of Lone Journey after a 12 year run on multiple networks with multiple sponsors.
1955: On The Brighter Day, Lydia Hamilton (Murial Williams) struggled...
1984: Guiding Light's Bert stood after losing her leg.
1995: One Life to Live's "Tommy" was enraged.
2003: Passions paid homage to the musical Chicago."All true histories contain instruction; though, in some, the treasure may be hard to find, and when found, so trivial in quantity that the dry, shrivelled kernel scarcely compensates for the trouble of cracking the nut."
― Anne Brontë in "Agnes Grey"
"Today in Soap Opera History" is a collection of the most memorable, interesting and influential events in the history of scripted, serialized programs. From birthdays and anniversaries to scandals and controversies, every day this column celebrates the soap opera in American culture.
On this date in...
1952: ABC Radio aired the final episode of Lone Journey after a 12 year run on multiple networks with multiple sponsors.
1955: On The Brighter Day, Lydia Hamilton (Murial Williams) struggled...
- 6/27/2018
- by Roger Newcomb
- We Love Soaps
1968: Dark Shadows' Barnabas entombed Trasked.
1979: Ryan's Hope's Johnny said his peace.
1990: Gh's Robert, Sean & Anna learned Paget was Duke.
1992: All My Children's Donna & Chuck left Pine Valley."Whoever wishes to foresee the future must consult the past; for human events ever resemble those of preceding times. This arises from the fact that they are produced by men who ever have been, and ever shall be, animated by the same passions, and thus they necessarily have the same results."
― Machiavelli
"Today in Soap Opera History" is a collection of the most memorable, interesting and influential events in the history of scripted, serialized programs. From birthdays and anniversaries to scandals and controversies, every day this column celebrates the soap opera in American culture.
On this date in...
1968: On The Doctors, Dr. Matt Powers (James Pritchett) and Dr. Nick Bellini (Gerald Gordon) performed surgery on Nathan Bunker...
1979: Ryan's Hope's Johnny said his peace.
1990: Gh's Robert, Sean & Anna learned Paget was Duke.
1992: All My Children's Donna & Chuck left Pine Valley."Whoever wishes to foresee the future must consult the past; for human events ever resemble those of preceding times. This arises from the fact that they are produced by men who ever have been, and ever shall be, animated by the same passions, and thus they necessarily have the same results."
― Machiavelli
"Today in Soap Opera History" is a collection of the most memorable, interesting and influential events in the history of scripted, serialized programs. From birthdays and anniversaries to scandals and controversies, every day this column celebrates the soap opera in American culture.
On this date in...
1968: On The Doctors, Dr. Matt Powers (James Pritchett) and Dr. Nick Bellini (Gerald Gordon) performed surgery on Nathan Bunker...
- 3/5/2018
- by Roger Newcomb
- We Love Soaps
1977: Lovers and Friends premiered on NBC.
1980: Edge of Night's Cliff ate Mrs. Corey's soup.
1995: Days' Alice interrupted Bo and Billie's wedding.
2001: All My Children's Bianca was outed at the Crystal Ball."History is a vast early warning system."
― Norman Cousins
"Today in Soap Opera History" is a collection of the most memorable, interesting and influential events in the history of scripted, serialized programs. From birthdays and anniversaries to scandals and controversies, every day this column celebrates the soap opera in American culture.
On this date in...
1938: Irna Phillips' radio soap opera Woman in White premiered on NBC Red. The show told the story of Karen Adams, a young nurse who dedicated her life to others, taking care of two young siblings after the death of her parents. Karen spent much of her time counseling others, although she did find time to marry and experience...
1980: Edge of Night's Cliff ate Mrs. Corey's soup.
1995: Days' Alice interrupted Bo and Billie's wedding.
2001: All My Children's Bianca was outed at the Crystal Ball."History is a vast early warning system."
― Norman Cousins
"Today in Soap Opera History" is a collection of the most memorable, interesting and influential events in the history of scripted, serialized programs. From birthdays and anniversaries to scandals and controversies, every day this column celebrates the soap opera in American culture.
On this date in...
1938: Irna Phillips' radio soap opera Woman in White premiered on NBC Red. The show told the story of Karen Adams, a young nurse who dedicated her life to others, taking care of two young siblings after the death of her parents. Karen spent much of her time counseling others, although she did find time to marry and experience...
- 1/3/2018
- by Roger Newcomb
- We Love Soaps
New Zealand increasing financial incentives for international films.
At least another three Avatar films are to be made in New Zealand and the country is to increase its financial incentives for all international films costing more than Us$12.4m to 20% from April 1, 2014 – and provide an additional points-based sweetener that could add a further five per cent.
A memorandum of understanding (Mou) signed today by Lightstorm Entertainment, 20th Century Fox and the Nz Government stipulates that a minimum of $414m (Nz$500m) will be spent on the films and that 100% of the live action and 90% of the visual effects – including character animation – will take place in New Zealand, subject to the country having the capacity and capability. The post-production mixing on at least one of the films will also happen in Nz.
Prime Minister John Key, Economic Development Minister Steven Joyce and Arts, Culture and Heritage Minister Chris Finlayson went public with the big news in Wellington this morning...
At least another three Avatar films are to be made in New Zealand and the country is to increase its financial incentives for all international films costing more than Us$12.4m to 20% from April 1, 2014 – and provide an additional points-based sweetener that could add a further five per cent.
A memorandum of understanding (Mou) signed today by Lightstorm Entertainment, 20th Century Fox and the Nz Government stipulates that a minimum of $414m (Nz$500m) will be spent on the films and that 100% of the live action and 90% of the visual effects – including character animation – will take place in New Zealand, subject to the country having the capacity and capability. The post-production mixing on at least one of the films will also happen in Nz.
Prime Minister John Key, Economic Development Minister Steven Joyce and Arts, Culture and Heritage Minister Chris Finlayson went public with the big news in Wellington this morning...
- 12/16/2013
- by Sandy.George@me.com (Sandy George)
- ScreenDaily
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