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TOP NEWS: Cineworld To Reopen UK And US Cinemas On July 10

Tue, 16th Jun 2020 08:41

(Alliance News) - Cineworld Group PLC said Tuesday all of its cinemas will be open by July, with some being opened in the last week of June.

Shares in the cinema operator were 5.6% higher in London on Tuesday morning at 83.32 pence.

Cineworld said it has modified booking systems to ensure social distancing within and throughout its auditoriums.

It also has altered its daily movie schedules to manage queues and avoid the build-up of crowds in lobbies.

Chief Executive Mooky Greidinger said: "We are thrilled to be back and encouraged by recent surveys that show that many people have missed going to the movie theatre.

"With a strong slate confirmed for the coming weeks, including among others Tenet, Mulan, A Quiet Place Part II, Wonder Women 1984, Black Widow, Bond, Soul, Top Gun Maverick and many more, the entire Cineworld team remains committed to being 'the best place to watch a movie'."

Cineworld-owned cinemas in Czech Republic and Slovakia will open their doors on June 26, in Poland and Bulgaria on July 3, and in Israel on July 9. UK and US cinemas will open on July 10.

The dates for Hungary and Romania are still to be confirmed but are expected to be in the week of July 3.

The cinema reopening plans come as Cineworld faces legal action over its decision late last week to terminate its agreement to buy Canada's Cineplex Inc.

Cineworld said late Friday the CAD2.8 billion deal, about GBP1.6 billion, was dropped after "certain breaches" of the acquisition deal.

The takeover would have created North America's largest chain of movie theatres to better compete with AMC Entertainment. It would have added 165 cinemas to Cineworld's existing 786 sites and 9,500 screens. AMC Entertainment owns or operates about 1,000 theatres around the world.

Toronto, Ontario-based Cineplex hit back, saying it intends to commence legal proceedings promptly against Cineworld and seek damages for breach of contract.

By Paul McGowan; paulmcgowan@alliancenews.com

Copyright 2020 Alliance News Limited. All Rights Reserved.

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