The Vue International Cinema chain has cut its value in half to around £650 million ($785.6 million).
weather The company is reportedly restructured in a deal that protects it from legal claims of 130 million euros in Germany and allows it to inject new funds into operations. This comes after an announcement last month that Vue’s lenders will take control of the business, replacing previous majority owners Alberta Investment Management Corporation and Omers (both Canadian pension funds).
Vue had a record year in 2019, when it was valued at £2 billion, but the chain suffered heavy losses in early 2020 as a result of the UK’s Covid lockdown and later in the year when studios were hesitant to release big-budget movies like James Bond. no time to die In movie theaters.
Christopher Nolan DogmaThe movie, which was released in August 2020, had a difficult time meeting its $205 million budget, although it recently grossed $365.5 million.
This year, aided by the return of the brighter, fighter pilot Tom Cruise Top Gun: Maverick It’s grossed $1.28 billion at the global box office so far, but box office sales are at 65% of pre-Covid levels, influenced by factors including Disney’s decision to release titles like Pixar. turn red Directly on the Disney+ streaming platform.
! If function(f, b, e, v, n, t, s) { (f.fbq) returns; n = f.fbq = function() { n.callMethod ? n.callMethod.apply(n, arguments): n.queue.push(arguments) } ; if (!f._fbq) f._fbq = n; n.push = n; n.loaded = !0; n.version = ‘2.0’; n.tail = []; t = b.createElement(e); t.async = !0; t.src = v; s = b.getElementsByTagName(e)[0]; s.parentNode.insertBefore(t, s) }(window, document, ‘script’, ‘https://connect.facebook.net/en_US/fbevents.js’); fbq(‘init’, ‘422369225140645’); fbq(‘track’, ‘Page View’);
Source: Deadline
Lloyd Grunewald is an author at “The Fashion Vibes”. He is a talented writer who focuses on bringing the latest entertainment-related news to his readers. With a deep understanding of the entertainment industry and a passion for writing, Lloyd delivers engaging articles that keep his readers informed and entertained.
