(Alliance News) - Cineworld Group PLC on Tuesday said that, starting April 2, its Regal theatres in the US will reopen to show a limited number of films, while also announcing a multi-year agreement with Warner Bros Pictures.
On April 2, the Brentford-based cinema operator will have a limited number of cinemas open to show the film "Godzilla vs Kong", followed by "Mortal Kombat" on April 16. Cineworld also is looking to reopen its UK operation in May, in line with current government guidance.
In addition, the group has inked a deal with Burbank, California-based film producer Warner Bros Pictures Group, under which Warner's films will be exhibited in Cineworld's cinemas in the US. The deal will commence in 2022, where Warner's theatrical releases will have a 45-day window of exclusivity.
For the UK, both companies have agreed to an exclusive theatrical window of 31 days prior to premium video on demand, and an extended window of 45 days for films which will open to agreed upon box-office threshold.
"We have long-awaited this moment when we can welcome audiences back to our Regal theatres and restore our essential role within the communities we serve," said Chief Executive Officer Mooky Griedinger.
"With capacity restrictions expanding to 50% or more across most US states, we will be able to operate profitably in our biggest markets. We will also be monitoring developments closely in the UK and across Europe as we set to gradually reopen across the world in line with local government guidance," Griedinger added.
Shares in Cineworld were down 6.2% at 104.45 pence on Tuesday in London.
By Dayo Laniyan; dayolaniyan@alliancenews.com
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