Anna Daniels
Cinemark Launches Debt Sale
Over at Variety, there’s news that Cinemark is launching a $250 million debt sale. The theater chain wants to use the sale for general corporate purposes, including “enhancing its liquidity.” Cinemark has shut down practically all of its theaters, and the fact that the summer movie season as we know it is all but obliterated, things are only going to get worse for Cinemark and other theaters, who do most of their business in the summer. The debt will be “secured by a first-priority lien on its leases,” per the Variety story.
Sorry, Pandemic Insurance Doesn’t Cover This Pandemic
Since the coronavirus has indeed been declared a pandemic, you might think that pandemic insurance would cover it. But apparently not. The Star Cinema Grill in Houston is suing its insurance company for not recognizing COVID-19 as part of their coverage. The theater chain paid $40,000 in premiums for $1 million in coverage, per KHOU, but insurance company Lloyds of London is trying to weasel its way out of the deal by stating that COVID-19 isn’t listed as a “named disease” in the policy.
“Star Cinema grill has an expectation, since it’s done its part, it’s paid its premium, that the insurance company is going to stand up and do what its part is, which is to pay the claim,” said the theater’s attorney.
Lionsgate Teams with Fandango, YouTube, and NATO to Screen Free Movies Help Furloughed Movie Theater Employees
This has been a pretty bleak series of stories, so I saved a positive one for last. Lionsgate has teamed with Fandango, YouTube, and NATO to launch Lionsgate Live!, which hopes to recreate the “communal theatrical experience” from the comforts of home. And for free. Starting Friday, you’ll be able to stream four of Lionsgate’s films – The Hunger Games, Dirty Dancing, La La Land, and John Wick, on Lionsgate’s YouTube page and Fandango’s Movieclips YouTube page. The films will be hosted by Jamie Lee Curtis. Here’s the schedule:
The free movies that will live-stream on Fridays at 6:00 P.M. PST/9:00 P.M. EST are:
April 17 – The Hunger Games
April 24 – Dirty Dancing
May 1 – La La Land
May 8 – John Wick (age registration required)
Here’s where money comes in, and goes towards a good cause: Popcornopolis, purveyors of gourmet popcorn, will “support with a consumer movie night offer, with 10% of sales donated to the Will Rogers Motion Picture Pioneers Foundation. And SnackNation, the country’s leading provider of better-for-you snacks, drinks, and coffee for the home and office, will curate a movie-themed snack box with a special price and free shipping.”
The screenings will also feature “interactive opportunities for fans, like real-time fan chats via YouTube Live, live tweeting @Lionsgate and partners, and shared fan engagement opportunities in-show, including movie trivia, movie-themed challenges, and more.” And there’s more:
Audiences everywhere will have the chance to join Lionsgate in showing support for the country’s temporarily jobless movie theater employees and how much we all appreciate and miss them. Lionsgate’s initial donation as well as the audience and partner donations throughout this event will benefit the Will Rogers Motion Picture Pioneers Foundation, an organization dedicated to helping workers throughout the motion picture industry, and will link to the Foundation’s charitable page so that viewers who are able can help as well. The Will Rogers Foundation is currently providing financial assistance to theater employees furloughed by the COVID-19 crisis.
Written by: Slash
