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Cineworld plans to reopen its Regal theaters in the United States for the first time in six months. The step-by-step process will begin with the opening of a limited number of theaters for WB / Legendary Godzilla vs. Kong April 2nd. Regal branches to open more widely on April 16, in time for New Line’s Mortal combat. Cineworld and Warner Bros have also entered into a multi-year deal that will see the world’s second-largest exhibitor show the studio’s 2021 theatrical titles and HBO Max Day-and-Date in the United States upon their theatrical release. Then, starting in 2022, Warner Bros. motion pictures will have a 45-day theatrical exclusivity window on Cineworld’s Regal channel.
With the reopening of the New York and Los Angeles theaters and Covid’s capacity restrictions set to drop from 25% to 50% in the near future, Regal’s return is great news for the industry. Cineworld CEO Mooky Greidinger also called it “a big moment for us – the US market represents 75% of our business – and will soon be followed with all of our markets. We strongly believe in the theatrical experience which just a year ago (2019) generated $ 43 billion worldwide. “
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As for the UK, Cineworld’s second largest market, Warner Bros. and Cineworld have agreed to an exclusive 31-day cinematic window before PVOD, and an extended 45-day window for films that open. at an agreed box office threshold. Cineworld plans to resume operations in the UK in May, in line with current government guidance.
Regarding the WB deal, Greidinger, who has been a strong supporter of theatrical showcase, said, “We are very pleased with the deal with Warner Bros. This deal shows the studio’s commitment to the business. drama and we see this agreement as an important milestone in our 100-year relationship with Warner Bros. “
In October of last year, Cineworld announced the temporary closure of 536 Regal theaters in the United States and 127 Cineworld and Picturehouse locations in the United Kingdom. Later that month, it reopened 11 locations in New York City that joined the seven Regal multiplexes that were still operating in California at the time. Then, at the beginning of November, he reorganized these sites. And at the end of November, Cineworld secured significant additional cash to help secure its future despite the ongoing challenges created by the pandemic. The company will announce its first annual results this Thursday.
Greidinger told Deadline last year that reopening Cineworld theaters would depend on a “clear picture of studio lineup … It can’t be just one movie.” The chain chose not to reopen for the Warner Bros. / HBO Max Christmas day-and-date theatrical release of Wonder Woman 1984, which makes the agreement with WB even more remarkable.
Greidinger added today, “We have been waiting a long time for this moment when we can welcome audiences back to our Regal Theaters and restore our vital role in the communities we serve. With the health and safety of our customers, staff and communities being our top priority, we continue to take all necessary precautions and adhere to our CinemaSafe guidelines to confidently deliver a safe and comfortable experience. With capacity restrictions of up to 50% or more in most US states, we will be able to operate profitably in our largest markets. We will also be closely monitoring developments in the UK and across Europe as we set out to gradually reopen across the world in accordance with local government guidelines. “
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