Connect with us
Finance Digest is a leading online platform for finance and business news, providing insights on banking, finance, technology, investing,trading, insurance, fintech, and more. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.


By Muvija M and Chris Peters

(Reuters) -Cineworld is considering a Wall Street listing for all or part of its business in an effort to bolster its finances which are under heavy pressure from the coronavirus pandemic.

A U.S. listing would give heavily indebted Cineworld access to the largest capital market in the world, where rival U.S. cinema group AMC this year became one of the so-called “meme stocks”, sending its shares skyrocketing.

Shares in Cineworld, which gets the bulk of its revenue from its Regal cinemas in the United States, jumped 8% by 0833 GMT on the FTSE midcap index.

We believe this is quite an interesting consideration which could be supportive of valuation if we were to see similar support in Regal as was with AMC,” BofA analysts wrote.

The company, which had net debt of $8.44 billion as of the end of June, said cash burn was $271 million in the first six months of the year, while losses narrowed to $576.4 million from $1.64 billion last year thanks to tighter cost control.

Rival AMC, the world’s biggest cinema theatre group, has also reported a big quarterly loss, saying ticket sales were running at less than one-third of 2019 levels.


People have flocked back to cinemas in the past few months to watch movies such as Marvel’s “Black Widow” and Paramount thriller “A Quiet Place 2.

Cineworld boss Mooky Greidinger expressed confidence in a line-up of big releases ahead, including four new Marvel movies and Tom Cruise’s “Top Gun Maverick”, the new James Bond movie, “The Matrix 4” and science fiction film “Dune”.

All of Cineworld’s 787 sites were open as of June, with Greidinger saying ticket sales were now at more than 50% of pre-crisis levels, as the United States and the UK eased months of pandemic curbs after vaccination drives picked up pace.

But concerns over new variants of the virus and an accelerated shift by studios to release movies simultaneously on streaming platforms are still a cause for concern.

Cineworld said it was expecting the window for movie releases in theatres to stabilise to somewhere between 20 and 60 days by next year.

One of the most significant things that we all learned from the short window is that it creates an opportunity for high-quality pirated copies which is going all over the world,” Greidinger said.

(Reporting by Muvija M and Chris Peters in Bengaluru; Editing by Subhranshu Sahu, Susan Fenton, Anil D’Silva and Jane Merriman)

Continue Reading

Why pay for news and opinions when you can get them for free?

       Subscribe for free now!

By submitting this form, you are consenting to receive marketing emails from: . You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact

Recent Posts