Cineworld has confirmed it plans to reopen its 127 outlets in May following the easing of Covid-19 restrictions in the UK as part of the Government’s road map to economic recovery. Bosses also revealed they will open cinemas in the US under its Regal brand from April 2nd, following six months of closure. In addition, a deal has been struck with Warner Bros that gives the cinema chain, which also owns the Picturehouse franchise, exclusive rights to show films over streaming services. An extended window of 45 days for films that open to an agreed-upon box office threshold has also been reached, it added. Analysts on average have estimated Cineworld’s 2020 loss at $1.29 billion when it reports results on Thursday, Eikon data from Refinitiv shows.

Source: The Irish Times March 23, 2021 11:35 UTC