Regal Entertainment Announces Theaters Will Reopen Aug. 21
Cinema chain AMC Entertainment (NYSE: AMC) announced last week that it will delay reopening of its theaters until mid to late August. Now it seems that AMC archrival Regal Entertainment will follow suit.
In an announcement this morning, Regal, a subsidiary of London's Cineworld Group (OTC: CNNW.F), set an Aug. 21 date for reopening its theaters.
Both companies appear to be responding to media conglomerates delaying the release of blockbuster movies once again (AMC specifically referenced Warner Bros.' Tenet and Disney's Mulan), although the situation is a bit of a chicken-and-egg scenario. On the one hand, theaters don't want to open unless they can be sure they'll have popular films to draw customers back to the theater. On the other hand, the movie studios don't want to release their films to empty theaters.
Source Fool.com
