![]() Zyhis summer’s $3.3 billion in ticket sales is still running nearly 20% behind the summer of 2019, before the pandemic, as of Aug. ![]() Discovery, Knoxville's media company through the years Who will buy Discovery building?: Look outside Knoxville for a corporate buyer ![]() Warner Discovery is selling its 344,000-square-foot Knoxville hub but plans to retain a workforce in East Tennessee. To be sure, moviegoers have streamed back into theaters this year to see blockbusters like “Spider-Man: No Way Home,” “Top Gun: Maverick,” and ”Jurassic World: Dominion.” Industry giant Warner Discovery has said it’s doubling down on theaters and moving away from debuting films on its HBO Max streaming service. View Gallery: Photos: Regal in Knoxville through the years But the entire industry is navigating a tenuous recovery after the pandemic shut theaters worldwide. The British company, which owns the Knoxville-headquartered Regal Cinemas and operates in 10 countries, said its theaters remain “open for business as usual” as it considers options for relief from its debt load.Ĭineworld said it expects to continue operating even after any potential filing, though its stock investors could face steep or total losses on their holdings.Ĭineworld faces challenges specific to itself after building up $4.8 billion in net debt, not including lease liabilities. ![]() LONDON (AP) - Conditions are dimming at many movie theaters around the world.Ĭineworld Group PLC, one of the industry’s biggest theater operators, confirmed this week that it’s considering filing for Chapter 11 bankruptcy protection in the U.S., as it contends with billions of dollars in debt and more empty seats in front of its screens than expected. Watch Video: Regal's Pinnacle at Turkey Creek theater gets revamped lobby ![]()
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