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https://www.reuters.com/business/media-telecom/cineworld-bosses-secure-near-35-mln-exit-payout-ft-2023-06-16/
Is this good, or bad?
JohnNth, give it a break. You're either a virgin, or a divorcee (or possibly both).
Lots of new dockets have appeared on the kroll website: https://cases.ra.kroll.com/cineworld/Home-DocketInfo
Anyone here fluent in legalese and willing to decipher the latest?
Cheers
Strength in numbers, and all that :)
Ianharding (or another poster) - please can you ping a link to the article you reference?
Apologies if i've failed to spot it somewhere obvious (or if it was initially posted by someone I've filtered, lol)
Thanks
Shave, it's insightful, reasonable, and intelligent comments like this that keep me here. Thanks, and well said.
Interesting; do you have a source or link, please?
Lol, Cineworld has hammered home the truth of Warren Buffet's sage advice: "If you're not willing to own a stock for 10 years, don't even think about owning it for 10 minutes" : )
Makes sense, cheers :)
Anyone notice that? GAW, AML, Greggs etc. Sorry to derail. Any idea of cause?
Apols if already known; for info, it looks like there's been an amendment to the case hearing dates:
https://cases.ra.kroll.com/cineworld/
I agree that Cine has a lot of pressing issues in the short-term, but I'm unsurprised by the increased revenue forecasts; last night I was taking a look through the list of Marvel's Phase 4, 5 and 6 movies being released over the next few years. I expect a number of these will get close to, or even surpass, a billion dollars at box office. That's a lot of money going to CINE, and lenders will likely be quite aware of this.
See below for reference:
Phase 4: https://www.cineworld.co.uk/static/en/uk/blog/marvel-phase-four-upcoming-movies-in-order-of-release
Phase 5: https://www.cineworld.co.uk/static/en/uk/blog/marvel-phase-5-movies-you-can-expect-to-see
Phase 6: https://www.cineworld.co.uk/static/en/uk/blog/marvel-movie-news-revealed-at-san-diego-comic-con-2022
It's not my area of expertise, but on balance, it sounds like a good deal, no? The judge sounds committed to seeking a good deal for CINE. He clearly knows his stuff: https://2021.wrdic.org/speakers-sessions/keynotes/marvin-isgur/
Thanks Warren, cheers for checking in
Ian, apols again if I'm being dense, but what difference to volatility does it make if a stock is listed on AIM as opposed to the FTSE?
Hexam, apols if I'm being dense, but why is CINE being removed from the indices if it's not being suspended?
I don't want to sway anyone either way (for selfish reasons of my own conscience, if it it goes tits up!) but the Deadline article released yesterday afternoon clearly stated a couple of very salient points:
1) “Talk is very much overdone. There will be a restructuring. Cineworld won’t go out of business. Some underperforming theatres will be closed. Those assets probably aren’t that exciting for others to come in and pick up. Cineworld will keep its best assets and the impact on the industry will likely be minimal,” says analyst Eric Handler of MKM Partners.
2) "No one believes a bankruptcy means goodbye to Cineworld, rather a slimmed down and tidied up chain. Alamo Drafhouse (albeit a very much smaller circuit) has been expanding rapidly and establishing new breed of post-Covid theater experience after emerging from bankruptcy a year ago".
3) Exhibition has a history of rightsizing through bankruptcy. In the early 2000s, Regal merged with United Artists and Edward Theatres as they all went bankrupt after a period of massive overexpansion. “We have seen these kind of retrenchments in the past. It’s not about the death of the exhibition business,” said one industry executive.
https://deadline.com/2022/08/regal-cineworld-bankruptcy-movie-theater-stocks-1235096328/
Ps, it seems that Eric Handler of MKM partners was also writing about theatres back in 2015:
https://finance.yahoo.com/news/box-office-underperforms-still-manages-162948777.html
And on CNBC (which I sadly can't access; if anyone can view it would be interesting to hear):
https://www.cnbc.com/video/2020/08/20/mkm-partners-eric-handler-on-why-he-has-a-buy-on-the-movie-theatre-stocks.html
Who knows!
Ok, cheers - thanks for the reply : )
Ok, thanks; could those late reported trades suggest an opening price/trend for the following day? Possible Newbie question :)