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Added on the 10/11/2020 21:07:58 - Copyright : Wochit
An SEC filing reveals AMC aims to raise up to $844 million through the sale of 200 million shares to meet cash needs. Business Insider reports that AMC has burned through the bulk of its cash reserves as virus restrictions and a lack of major releases cut into business. In October AMC warned it could run out of money by the end of the year. The upcoming stock sale will likely raise far less than the $844 million target. On Thursday, AMC stock plummeted 16%.
Gizmodo reports ailing theater chain AMC might be totally broke by the end of 2020. In financial filings, the company disclosed on Tuesday that it may require 'additional sources of liquidity or increases in attendance levels' to survive. In other words, it'll need more cash or more butts on seats--or both. The company cites low attendance and a delayed movie release schedule during the coronavirus pandemic. If those don’t change, AMC may pursue additional debt and equity financing, renegotiations with landlords, asset sales, or joint ventures. They're not alone. Competitor Regal Cinemas has also disclosed it will need fresh funds by early 2021 if the winter results in 'prolonged' shutdowns.
Rome (Italy), 4 jun (EFE).- (Imagen: Álvaro Padilla) It was almost 10 years ago that a group of youngsters occupied Rome´s Cinema America to save the movie theater from being destroyed and turned into apartment blocks. A decade later, that same group of youngsters are opening their very own cinema.FOOTAGE OF THE CINEMA IN ROMESOUNDBITES OF VALERIO CAROCCI, ORGANIZATION SPOKESMANTRANSLATION1. It is a conservative restoration project, the entire building maintains the historical and architectural peculiarity of the fascist era built in the Thirties, designed by Mussolini for the fascist regime. We will open to the public on September 30 and will have three hundred seats, and a new permanently open study room.2. We hope this will serve as an engine for people to return to theaters after the pandemic3. With Almodovar there were two very funny scenes; The first was, when the América cinema was occupied, that he entered the cinema, and there was only one boy, but he did not know anything about cinema, and he did not recognize him. And a few hours later the waiter at the bar told us, But have you seen that Almodovar has entered? And all ... Oh my God Almodovar has entered! And we all scolded the boy because he had not recognized Almodovar. And years later we wrote to him telling him this story, and he responded very affectionately.4. (About Nanni Moretti); We don't know if he's angry, we can't say this. We can only say, "Hello Nani, we have opened a cinema next to yours, and invent ways to collaborate, we have proposed to make available all our social networks, and our sites to promote their activity. Working together I think it gives us the possibility for everyone to be stronger. And that the "New Sacher" and the cinema "Troisi", which are 200m away, as they would be stronger together. Pedro answer us, Nani answer us.
This week in the Top Sexy Boys, TRACE Urban takes a look at the sexiest artists under the age of 25.
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