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Warner Bros delays 'Dune', 'The Batman' movies

Tue, 06th Oct 2020 07:06

Oct 6 (Reuters) - Warner Bros said late Monday it is
delaying the release of "Dune" and "The Batman" movies, another
setback for the entertainment industry hit by COVID-19 pandemic
lockdowns and social distancing measures that have closed
theaters worldwide.

"Dune", a sci-fi movie directed by Canadian director Dennis
Villeneuve, is now scheduled to open in October 2021, instead of
December. The release of "The Batman", starring Robert
Pattinson, has been moved to the spring of 2022 from October
next year.

Movie releases have been getting delayed even after
restrictions were eased, with people still wary of stepping into
cinema halls, and many theaters still not operational.

On Monday, the world's second-biggest cinema chain,
Cineworld, decided to temporarily close its UK and U.S.
movie theaters in an attempt to survive a collapse in
film-making and cinema-going.

Credit rating agency Fitch promptly downgraded the company.

"Our base-case forecasts indicate that, the company's
current liquidity levels may only be sufficient until November
to December 2020, assuming no revolving credit facility (RCF)
extensions," Fitch said in a statement.

Earlier, the filming of "The Batman" was also shut down for
two weeks after a member of the production - widely reported to
be Pattinson - tested positive for the new coronavirus. Filming
resumed in Britain last month and Warner Bros never confirmed or
denied reports about Pattinson's diagnosis.

"Dune" has gained a lot of traction for its cast that
includes 24-year-old Timothee Chalamet, who was nominated for an
Academy Award for his role in the 2017 film "Call Me by Your
Name."

Other big-budget Warner Bros movies to have their releases
delayed include "Tenet" and "Wonder Woman 1984".

The release of the new James Bond movie "No Time to Die"
from MGM and Comcast Corp's Universal Pictures has also been
delayed until April 2021.
(Reporting by Vishal Vivek in Bengaluru and Lisa Richwine in
Los Angeles; Editing by Bernard Orr)

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Cinepolis exec Eduardo Acuna to become Cineworld CEO

July 13 (Reuters) - Cineworld Group said on Thursday Eduardo Acuna, who runs the Americas operations of Mexican theatre operator Cinepolis, will become its CEO when the company emerges from bankruptcy proceedings, expected this month.

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IN BRIEF: Cineworld reorganisation confirmed by US bankruptcy court

Cineworld Group PLC - London-based cinema chain - Says US Bankruptcy Court for the Southern District of Texas, Houston Division yesterday confirmed third amended joint chapter 11 plan of reorganisation. Allows it to implement restructuring transactions after satisfying certain conditions. Plan involves the release of about USD4.53 billion of Cineworld's funded indebtedness, as well as a rights off to raise USD800 million, and USD1.46 billion in new debt financing. Cineworld expects to enter into administration in the UK shortly before the emergence from chapter 11 proceedings. Cineworld still expects to emerge from the chapter 11 cases in July.

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Cineworld shares drop as it files for administration in the UK

(Alliance News) - Cineworld Group PLC on Monday said it has filed for administration in the UK as part of its restructuring in an attempt to reduce debt levels.

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Cineworld to apply for administration in UK

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Cineworld expects to emerge from Chapter 11 proceedings in July

(Alliance News) - Cineworld Group PLC on Thursday said it expects to emerge from Chapter 11 proceeding in July and, during its restructuring process, will continue to operate as usual.

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