Member Info for WolfofWarks

Disney does not need to buy a cinema to release its movies though, their relationship is mutually beneficial.

That doesn’t necessarily create a decent financial opportunity though. Especially when cinema’s roadmap to profitability is so uncertain

This is a long term hold. The the growth continues and your horizon is two- five years I think this will turn out very nicely.

A streaming business will not buy a struggling bricks and mortar cinema, partner with them maybe on a small window of exclusivity. It makes absolutely no commercial sense.

That window has to be small though otherwise it devalues the subscription model, both parties aims are at odds with each other and there’s only a small synergy to be gained imo.

This is no longer one of the most shorted stock anymore.

Most have closed under 2% left.

Magmanus - you never came back to me on what brokerage all these PIs who are short are using.

It would be pretty stupid directors buying in now with a dilution on the horizon anyway.

That’s his number of buys on every dip.

Magmanus - this is all part of the first day motions. The process has a very long way to go yet. It’s literally end of the beginning.

Bullbears - the whole point of spinning into a new company is that it’s a fresh start. The old company would be liquidated with all the debts with it. They would then buy all the assets and continue trading under the same brands, etc.

If it’s a Newco then the CP deal would fall away with the old company I believe.

Depends on how much power CP would have? They are the largest unsecured creditor by a country mile, but without first lien or any security they are quite far down the pecking order I would think.

I thought this might pull back a bit after Friday so happy we’ve maintained the increase.

Yep it’s gone very quiet here, sometime that’s a good thing though.

So I’m not sure how RNSable it is.

The thing is the developments last week were not really news. The $1.9bn had already been announced at the outset of the C11. The settlement was just the final legal means required to unlock it all. It’s still only financing for the C11 with the real settlement to come probably next year I would think. Imagine all the negotiations and legals that it takes to get there though.

‘ Wolf there debt wasn't a problem pre covid..

I’d disagree with this Jeff because over-leveraging leaves you exposed. There are loads of business which didn’t even have high levels of debt which are struggling post covid that were perfectly viable beforehand.

I’m going through something similar with 888 which has just took out a whopping great big loan to buy William Hill.

‘ Desperation of others
What will they be saying if we hit 50p lol.

I’d be absolutely delighted for everyone. This sorry mess isn’t LTH fault.

Jeff - CW cannot just sell parts of the company. C11 only grants them to keep it ticking over and even then all payments have to be approved by the court. Why do you think CP approached the lenders over Regal and not CW?

Jeff - there will be benefits to C11. They are just unlikely to accrue to current existing shareholders.

Can you give me any proof that the company are looking at other lenders for refinancing? If you read Israel’s opening statement from the day one session he explains that they are out of options.

The company have been trying to fix the finances for over two years, they cannot service current borrowing levels, breaking covenants or requiring waivers, and they’ve reached the end of the road and now have to come to an accommodation with their lenders.

Raising money at the moment isn’t easy due to the macro headwinds and raising money when expected profitability is two or three years down the line makes the job even harder when interest rates are high.

There’s a viable business underneath all that debt, but a lot of pain will be taken to release it.

Jeff - it won’t say it on the court docs. As I said to you before do some reading up on bankruptcy/administration proceedings and how the voting works. It’s the creditors who have the voting power therefore they are in charge.

These proceedings are about CW coming to an amicable agreement with their creditors. It’s the whole point of the exercise.

I have never misrepresented anything Jeff. When I explain things your reply is usually that I’m waffling. There is a big different between you not understanding what I’m saying (not your fault necessarily) and my comments misrepresenting the situation.

4) is incorrect. C11 is a form of bankruptcy proceeding and they are not out of the woods yet. I think you mean they are unlikely to be liquidated on which I would agree.