LONDON (AP) – British film chain Cineworld is finishing its cinemas in Britain and the United States, as the coronavirus pandemic delays major new films such as James Bond’s Latest Spy Blockbuster, he announced on Monday.
Analysts have described the effect of Covid-19, which has triggered international closures, as a “horror film” in the entertainment industry, with theaters already closed in major U. S. markets, adding the cities of Los Angeles and New York.
“In reaction to an increasingly challenging theatrical landscape and sustained closures of key markets due to the Covid-19 pandemic, Cineworld confirms that it will temporarily suspend operations” in either country, he said.
“While major U. S. markets, basically New York, remained closed and with no indication of the reopening schedule, studios hesitated to launch their portfolios of new films.
“In turn, without those new releases, Cineworld cannot provide US consumers with a problem. But it’s not the first time And the UK, the company’s main markets, the variety of counterfeit advertising films needed for them to return to cinemas in the context of Covid-19,” he added.
The announcement comes a few days after the administrators of the new James Bond film, whose release date was already postponed due to the pandemic, said it would premiere until April 2021.
“No Time to Die,” the episode in the fictional British spy saga, sees Bond retired from retirement in Jamaica and is expected to be actor Daniel Craig’s last appearance in 007.
Meanwhile, US Disney postponed several of its most important releases for next year, adding highly anticipated films from the hit Marvel superhero series, adding “Black Widow” and “Eternals”.
With millions stranded from March to June and beyond, consumers have turned to online streaming instead of American giants Amazon and Netflix.
“This is a resolution we’ve taken lightly,” Cineworld CEO Mooky Greidinger said of movie theater closures.
“We have done everything we can to help safe and sustainable reopenings in all of our markets, adding by respecting and exceeding local protective and fitness rules in our theaters and working constructively with regulators and industry bodies to repair public trust in our industry, the company said in its statement.
“Cineworld will continue to monitor the stage to a large extent and talk about any long-term plan to resume operations in those markets at the right time, when key markets have more concrete indications about their reopening prestige and, in turn, studies will need to provide their pipeline of primary versions back to the big screen. “
The news criticized Cineworld’s percentage price, which fell by almost 60% in London’s morning offers. It was then set at 26. 93 pence, almost 32% less than Friday’s final level.
Susannah Streeter, analyst for runner Hargreaves Lansdown, said the coronavirus, not James Bond, was the “bad boy” in Monday’s bad news.
“While the delay in the latest box office success 007 motivated the decision, Bond is the villain in this play,” he said.
“Covid-19 around the world has been a horror movie for the industry and the new wave of infections is the latest episode of what has been a devastating story for film chains. “
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