Welcome to our dedicated page for Cinemark Holdings news (Ticker: CNK), a resource for investors and traders seeking the latest updates and insights on Cinemark Holdings stock.
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 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.
National CineMedia (NASDAQ: NCMI), the largest cinema advertising platform in the US, has appointed Catherine Sullivan as President of Sales, Marketing, and Partnerships, effective May 16, 2024.
With over 30 years of experience in the media and advertising industry, Sullivan will lead the company's go-to-market strategy, reporting directly to CEO Tom Lesinski.
Her previous roles include CEO at PHD Media US and Chief Investment Officer at Omnicom Media Group. Current President Scott Felenstein will depart at the end of the quarter, aiding in the transition.
National CineMedia, Inc. (NASDAQ: NCMI) reported a 7.2% increase in total revenue for the first quarter of 2024 compared to the same period last year. The company saw improvements in operating loss, adjusted OIBDA, and net loss. While net loss per diluted share decreased, adjusted OIBDA and adjusted net loss are non-GAAP measures. The company announced an optimistic outlook for the second quarter of 2024, with expected total revenue of $49.5 million to $51.5 million and Adjusted OIBDA in the range of $3.5 million to $4.5 million. The company continues to focus on creating value for its shareholders through share repurchase programs and strong performance in the cinema advertising network.
Cinemark Holdings, Inc. reported first-quarter 2024 results, including total revenue of $579 million, net income of $25 million, and Adjusted EBITDA of $71 million with a 12.2% margin. The company strengthened its balance sheet by redeeming $150 million of senior secured notes. Despite strike-induced headwinds, the North American industry box office performed well, demonstrating consumer enthusiasm for cinematic experiences. Cinemark entertained 40 million moviegoers globally, surpassed industry recovery benchmarks, and maintained market share growth. Financially, revenue decreased by 5.2% due to lower attendance, but net income improved from a loss to $24.8 million. Adjusted EBITDA decreased to $70.7 million. The company remains optimistic about the industry outlook and its competitive position.
National CineMedia, Inc. (NASDAQ: NCMI) will release its first quarter 2024 earnings results on May 6, 2024. The company, managing National CineMedia, , the largest cinema advertising platform in the U.S., will host a conference call to discuss the results.
Cinemark Holdings, Inc. extends its popular Summer Movie Clubhouse program, sponsored by Universal Pictures' Despicable Me 4 and DreamWorks Animation's The Wild Robot, due to high consumer demand. The program will run for 10 weeks starting on June 10, offering discounted family-friendly films at over 300 Cinemark theaters nationwide. With tickets priced at $1.75, families can enjoy a variety of movies and snack deals, making it an affordable out-of-home entertainment option.
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