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https://deadline.com/2023/02/regal-parent-cineworld-lenders-restructure-chapter-11-still-taking-third-party-bids-1235252511/
The lenders 'base case' sounds worrying though...hopefully we end up better than base!
I hope so patience....biggest thing keeping me optimistic is - if theres a number of options on the table, surely there must be at least one which leaves at least something for Mooky and us shareholders. I also get the sense lenders are softening a little and leaning towards a pragmatic solution. Fingers crossed for the 21st!
Did they say box office was 20% better than forecast?
Can you see them HNS?
Elvis join this Discord, some good convo going on and someone listened into the call too and has given interesting detail https://discord.gg/mmgzmSWcFw
Have I missed something here? a 7%+ drop - i cant see any news...
This is what it says on teh docket:
Audio communication will be by the use of the Court’s dial-in facility. You may access
the facility at (832) 917-1510. Once connected, you will be asked to enter the conference room
number. Judge Isgur’s conference room number is 954554. Video communication will be by use
of the GoToMeeting platform. Connect via the free GoToMeeting application or click the link on
Judge Isgur’s homepage. The meeting code is “JudgeIsgur.” Click the settings icon in the upper
right corner and enter your name under the personal information setting.
Hearing appearances must be made electronically in advance of the Hearing. To make
your appearance, click the “Electronic Appearance” link on Judge Isgur’s homepage. Select the
case name, complete the required fields, and click “Submit” to complete your appearance
Ahh fair enough Wolf
Thats encouraging. Their industry seems to be facing a lot of challenges....whereas it seems cinemas is almost back. if they can generate interest - hopefully CW can too
Thanks Hussart...88% compared to 2019 seems more positive than what CW have been making out...100% 2019, imo is closer than what they have been suggesting...
It was interesting what he was saying about institutional buyers buying in lately (i think I heard him say that based on Simply Wall St).....does anyone know if this is the casE?
Also - what do we think about his Discord channel - that sounds interesting too...he seems to be saying that working collectively it might get him a place on the board - does this sound plausible and would there be any benefits for us? More insight into what is going on?
Do you think they'd look to invest or buy? I'm thinking an equity house may not have cinema expertise and so would probably want to mooky and current gang to run it?
Lenders to cash-strapped National CineMedia Inc. have signed non-disclosure agreements to begin debt restructuring talks as the movie theater advertiser seeks to salvage a deal with bankrupt Cineworld Plc.
The debt talks may become a key component of contract negotiations between Cineworld and its long-time advertiser, as the future of that contract hinges on National CineMedia cutting its debt, according to people with knowledge of the matter, who asked not to be identified because the talks are private.
Maintaining its relationship with Cineworld’s Regal chain is central to National CineMedia’s survival, and the advertiser has tried to block Cineworld ...
https://news.bloomberglaw.com/bankruptcy-law/national-cinemedia-starts-debt-talks-with-cineworld-deal-at-risk
(behind a paywall and not sure of its impact, posting anyway)
lol honestly - im not getting too excited. Been through too much with this, and 4p is not a patch on where i need thsi to be. Nice to see it moving a little anyway - lets hope it continues!
May be stating the obvious here - but i think the rise now is down to people coming over to the view that: Cinema is highly likely back now to a very decent level and its unlikely Mooky is going to be forced to give up his holding as it would seem very heavy handed from lenders to do this now. The risk appetite for this is increasing slowly. The Sp is so far from a fair value. Barring a bombshell RNS (like we got from the court last Dec), im expecting this to keep rising now. Im a but gutted as I was hoping to put in a little more to average down at sub 3p. Might still do - but sub 3p would have been nicer!
Wolf - sure it is. You dont have to watch it all in one eve. With the 'clever tech' - they could use polls to figure when the community of for example 'The Crown' lovers would like to sschedule a screening of 1-3 episodes....following the screening their could be discussion groups in the foyer....lol loads of opportunity. Like we all agree cinema is about the experience....
Wolf - im leaning towards the opinion now that there wont be a sale - and just a small dilution.....but I can see some good reasons why some of these streamers/tech co's could want a cinema chain like Cineworld. Firstly they coudl combine their subscription packages with their streaming packages - and really differentiate themselves from the pack. Then with all their clever tech, could offer some really interesting dynamic on scheduling.....you mentioned the other day that Netflix was more for box sets, series etc - which I agree with......but how about with the combined CW/Netflix pass they put on your fav series at the local cinema too - and so now they not only earn from your subscription, but your also buying their popcorn etc.......for someone like Disney - they could sell loads of merch....
I think theres lots of pro's for them to go for a cinema chain....especially someone like CW who'd give them instant access in all their major territories...
$625m would put cinema back at around 2019 levels...looking at the line up im optimistic it can be hit.
We have a Marvel (Ant Man) plus some other really good looking movies - Knock at the Cabin, Magic Mike (not for me, but must have an audience if theyre making sequels), What about love, Marlowe, Winnie the Pooh, Cocaine Bear.....I think thats a decent line up for one month.....in addition to Jan's spill over...
I see what your saying Wolf but over the past 18 months - many big releases have seemed to have delivered to be fair so there has been enough excitement…the overall box office was let down because there was no depth.
It looks as if there’s a variety and volume of movies being released now…seems quite exciting. Could be helped further if streaming cos give cinema more of a go.
Incidentally I had some time yesterday eve so thought I’d sit down and give Netflix a go…got about 2o mins into the new Eddie Murphy movie (which tbf didn’t start too bad), but just lost interest sitting on my couch…kept pausing it , using me phone etc….don’t know if I’ll end up switching it on again lol I would 80% likely have gone to watch the same movie at cinema….but this may just be me…..