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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  Cineworld Group plc    CINE   GB00B15FWH70

CINEWORLD GROUP PLC

(CINE)
  Report
Delayed Quote. Delayed London Stock Exchange - 10/22 11:39:24 am
29.27 GBX   -9.66%
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10/20AMC to raise fresh capital as liquidity troubles deepen
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10/19AMC to reopen more theaters in the United States
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Scorsese, Eastwood say U.S. movie theaters may not survive pandemic

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09/30/2020 | 08:50pm EDT

LOS ANGELES, Sept 30 (Reuters) - Oscar-winning film directors James Cameron, Clint Eastwood and Martin Scorsese joined forces with movie theater owners on Wednesday in an appeal for financial help, saying they feared for the future of the industry.

In a letter to the leaders of the U.S. Senate and House of Representatives, they said the coronavirus pandemic had dealt a devastating blow to movie theaters and that without funds "theaters may not survive the impact of the pandemic."

The letter was signed by more than 70 directors and producers along with the National Association of Theater Owners, the Directors Guild of America and the Motion Picture Association.

The pandemic forced movie theaters to close their doors in mid-March. Big chains including AMC Entertainment and Cineworld Plc's Regal Cinemas have reopened, with reduced capacity, in many U.S. cities, but not in the biggest markets of Los Angeles and New York City.

Efforts to get Americans back into theaters have proved disappointing, and Hollywood studios have delayed the release of big movies like "Black Widow" and "Top Gun: Maverick" to 2021.

The letter said that 69% of small and mid-sized movie theater companies will be forced to file for bankruptcy or close permanently unless help is forthcoming.

"Cinemas are an essential industry that represent the best that American talent and creativity have to offer. But now we fear for their future," the letter said.

Others signing the letter included James Bond movie producers Barbara Broccoli and Michael G. Wilson, "Wonder Woman" director Patty Jenkins, and action movie director-producer Michael Bay.

They asked Congress to redirect unspent funds from the coronavirus aid package passed earlier this year, or enact new proposals that would help movie theaters weather the pandemic.

(Reporting by Jill Serjeant; Editing by Leslie Adler)


Stocks mentioned in the article
ChangeLast1st jan.
CINEWORLD GROUP PLC -9.66% 29.42 Delayed Quote.-85.74%
COMCAST CORPORATION 1.33% 45.11 Delayed Quote.-1.00%
SONY CORPORATION -1.01% 7816 End-of-day quote.5.61%
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Financials
Sales 2020 867 M 1 134 M 1 134 M
Net income 2020 -1 529 M -1 999 M -1 999 M
Net Debt 2020 6 192 M 8 096 M 8 096 M
P/E ratio 2020 -0,26x
Yield 2020 -
Capitalization 404 M 529 M 528 M
EV / Sales 2020 7,61x
EV / Sales 2021 2,64x
Nbr of Employees 30 000
Free-Float 69,9%
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Mean consensus HOLD
Number of Analysts 10
Average target price 57,00 GBX
Last Close Price 0,29 GBX
Spread / Highest target 40 689%
Spread / Average Target 19 275%
Spread / Lowest Target 8 398%
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Managers
NameTitle
Moshe Joseph Greidinger Chief Executive Officer & Non-Executive Director
Alicja Kornasiewicz Chairman
Matthew Eyre Chief Operating Officer
Nisan Cohen Chief Financial Officer & Executive Director
Eric Hartley Senat Senior Independent Non-Executive Director
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