Brent Lang Executive Editor of Film and MediaInvestors are worried about the fate of movie theaters after Cineworld announced that it was temporarily closing its U.K.
locations and the U.S. venues it operates through its Regal Cinemas subsidiary. The announcement sent shockwaves through the exhibition industry, which has struggled to remain viable after coronavirus closed down venues around the world for months.Shares of Cineworld plunged more than 40% on Monday, and the theater chain wasn’t alone in seeing its stock tumble.
AMC Cinemas’ saw its share price drop roughly 11% as markets opened in the U.S. while other exhibitors also suffered from an industry-wide selloff.
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