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Cinemark Holdings, Inc. (NYSE: CNK), headquartered in Plano, Texas, is a leading player in the motion picture exhibition industry. With an impressive portfolio of 518 theatres and 5,847 screens across the United States and Latin America, Cinemark has established itself as a dominant force in the entertainment sector. As of recent data, the company operates the third-largest theatre circuit in the U.S., boasting 334 theatres and 4,489 screens across 41 states. In terms of box office revenues, Cinemark consistently ranks within the top two in 23 out of its top 30 U.S. markets.
Cinemark's strategic expansion into Latin America further highlights its geographical diversity, with 173 theatres and 1,257 screens spread across 14 countries. The company also extends its cinematic experience to audiences in Taiwan, solidifying its global presence.
The company's business model revolves around generating revenue from box office receipts and concession sales, with additional income streams from screen advertising, screen rentals, and other services such as transactional fees, vendor marketing promotions, studio trailer placements, meeting rentals, and electronic video games in select theatres. This diversified revenue model ensures a steady stream of income, even amidst the fluctuating dynamics of the entertainment industry.
Recent achievements and partnerships underscore Cinemark's commitment to innovation and customer satisfaction. Notably, Cinemark is part of a joint venture with AMC Entertainment Inc. and Regal, forming Fathom Events, which distributes alternative content and experiences to cinema audiences across North America and beyond.
Cinemark Holdings, Inc. (NYSE:CNK) announced the successful completion of a cash tender offer by its subsidiary, Cinemark USA, Inc., for its 5.875% senior notes due 2026. The offer expired on July 15, 2024, with $345,285,000 aggregate principal amount of notes (85.26%) validly tendered. Cinemark USA accepted all validly tendered notes and made payment on July 18, 2024.
Wells Fargo Securities, acted as the dealer manager for the tender offer. The tender offer was not an offer to purchase or a solicitation to sell securities in any jurisdiction where such actions would be unlawful, nor did it constitute a redemption notice for any securities.
Cinemark Holdings, Inc. (NYSE:CNK) announced the expiration of its subsidiary Cinemark USA's cash tender offer for any and all of its 5.875% senior notes due 2026. The offer expired on July 15, 2024, with $345,285,000 aggregate principal amount (85.26%) of the notes validly tendered. An additional $1,956,000 aggregate principal amount remains subject to guaranteed delivery procedures.
Cinemark USA expects to accept all validly tendered notes and make payment on July 18, 2024. Wells Fargo Securities, acted as the dealer manager for the tender offer. The press release emphasizes that this announcement is not an offer to purchase or a solicitation of an offer to sell any securities.
Cinemark USA, Inc., a subsidiary of Cinemark Holdings, Inc. (NYSE:CNK), has announced the pricing terms for its cash tender offer to purchase any and all of its 5.875% Senior Notes due 2026. The tender offer, which expires on July 15, 2024, at 5:00 p.m. New York City time, offers holders $1,001.71 per $1,000 principal amount of notes validly tendered and accepted, plus accrued interest.
Key details include:
- Outstanding aggregate principal amount: $405,000,000
- U.S. Treasury Reference Security: 1.750% due March 15, 2025
- Reference Yield: 5.093%
- Fixed Spread: 50 bps
The tender offer is subject to conditions, including Cinemark USA's completion of sufficient debt financing to fund the purchase and associated expenses.
Cinemark Holdings announced that its subsidiary, Cinemark USA, priced a $500 million offering of 7.0% Senior Notes due in 2032. The notes, priced at 100% of their principal amount, will accrue interest from July 18, 2024, and the transaction is expected to close on that date, pending customary conditions. The proceeds will fund a tender offer for Cinemark USA's 5.875% senior notes due 2026, cover related fees, and support general corporate purposes. The notes will be senior unsecured obligations, guaranteed by specific Cinemark USA subsidiaries, and offered only to qualified institutional buyers and certain non-U.S. persons.
Cinemark, a leading theatrical exhibition company, has partnered with Mike’s Hot Honey to offer a new range of spicy-sweet snacks in its U.S. theaters. This collaboration introduces Mike’s Hot Honey into cinema concessions for the first time, with offerings including popcorn, hot food items, and unique drinks. Special -time menu items such as fried chicken sandwiches, flatbread, pizza, loaded fries, wings, and milkshakes will be available at select locations. The press release highlights Cinemark’s success with spice-enhanced items, having sold 2.6 million units in 2023, and the convenience of online mobile ordering and home delivery through partnerships with DoorDash, Grubhub, and Uber Eats.
In addition, Cinemark Movie Rewards program members can earn points for every dollar spent.
For more information and to view participating locations, visit Cinemark's website.
Cinemark Holdings, Inc. (NYSE:CNK) announced a private offering of $500 million senior notes due 2032 through its subsidiary, Cinemark USA. The senior notes will be guaranteed by certain subsidiaries of Cinemark USA and are senior unsecured obligations. Proceeds from the offering will fund a cash tender offer to purchase all of Cinemark USA's 5.875% senior notes due 2026, pay related fees and expenses, and cover general corporate purposes. The notes and guarantees will be offered to qualified institutional buyers and certain non-U.S. persons, exempt from registration under the Securities Act of 1933 and applicable securities laws.
Cinemark USA, a subsidiary of Cinemark Holdings (NYSE: CNK), has initiated a cash tender offer to buy back its outstanding 5.875% senior notes due 2026. As of July 9, 2024, $405 million worth of these notes were still outstanding. The offer, detailed in the Offer to Purchase document dated July 9, 2024, will expire on July 15, 2024, at 5:00 p.m. New York City time, unless extended or terminated earlier. Those who tender their notes by the Expiration Date will be eligible for a cash consideration per $1,000 principal amount of notes, determined based on a fixed spread of 50 basis points over the yield of the 1.750% U.S. Treasury due March 15, 2025.
The settlement date is expected to be July 18, 2024. The offer's completion is subject to certain conditions, including securing additional debt financing to fund the purchase of all outstanding notes and associated fees. The tender offer can be withdrawn or amended as per applicable law but is not contingent on a minimum amount of notes being tendered.
LAIKA is celebrating the 15th anniversary of its acclaimed 2009 stop-motion animated film Coraline by re-releasing it in newly remastered 3D. The film will be in theaters globally for a engagement starting August 15, with Fathom handling the US distribution and Trafalgar Releasing managing international distribution. Tickets go on sale June 21 at 6am PT. The re-release will also include an early glimpse of LAIKA's upcoming film, Wildwood. Coraline, directed by Henry Selick and based on Neil Gaiman's book, was nominated for an Oscar and a Golden Globe and has won multiple awards including the Cristal Award at Annecy.
The re-release aims to attract a new generation of fans and provide an enhanced viewing experience for long-time enthusiasts.
The press release announces the nationwide theater release of 'SOMETHING TO STAND FOR' with Mike Rowe, premiering on June 27, 2024. Tickets go on sale starting May 24. The film, produced by Trinity Broadcasting Network, Fathom, Impact Productions, and mikeroweWORKS, explores untold stories from American history, focusing on the American Revolution, World War II, the Civil Rights movement, and more. Mike Rowe describes the project as a tribute to the American spirit and the country's heroes. The content is derived from Rowe's podcast 'The Way I Heard It' and TV show 'The Story Behind the Story.'
The film's aim is to highlight the extraordinary sacrifices made by individuals who shaped America. For more information, visit the provided link.
DC Studios, HBO Documentary Films, and CNN Films are releasing the documentary “Super/Man: The Christopher Reeve Story” in U.S. theaters on September 21, 2024, with an encore on September 25, Reeve’s birthday. The film, directed by Ian Bonhôte and Peter Ettedgui, will roll out internationally afterward. This documentary, which features personal archive material and interviews with Reeve’s children, explores Reeve’s life from his rise to fame as Superman to his activism following a paralyzing accident. Fathom Events is partnering in the U.S. screening.
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