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Cinema Shares Sink Even As Market Rallies; Hit By James Bond Delay, Cineworld/Regal Theater Closings
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deadline.comJill Goldsmith Co-Business EditorExhibition shares headed south Monday amidst a broader market rally as continued delays in big studio releases pushed a major circuit to close its doors, again, and raised a new round of jitters over the long term health of the sector.Regal parent, U.K.
chain Cineworld, which is traded in London, saw its share plunge by 50% (it was down 33% at latest check). Stateside, AMC Entertainment, the world’s largest exhibitor, had dropped 10% in late morning trade; Cinemark nearly 14%; Marcus almost 8% and in-theater ad agency National CineMedia more than 9%.
Imax, with a boost from its strong operations China, was steadier but still down about 2.5%. The drop stood out starkly against an upbeat market.
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