AMC Discover Mills by valerierenee (Wikimedia Commons)

Wanda sells off AMC theatres stake for $426 Million

Wanda has had a controlling stake in the exhibition giant since 2012, but January’s Reddit-fueled rally saw the company trade in its super-voting Class B stock for Class A common stock, giving up control but giving it the option to cash out. Chinese conglomerate Wanda Group has sold off essentially its entire stake in AMC Theatres, officially exiting the U.S. theatrical exhibition business. Wanda has had a controlling stake in the exhibition giant since 2012, but January’s Reddit-fueled rally saw the company trade in its super-voting Class B stock for…

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London's Garden Studios - Arts Alliance

London getting new 62,000-square-foot studio

More central than other major facilities in the British capital, the Garden Studios — including four soundstages — is already open for film and TV productions. London will add another studio to its growing library of film and TV facilities. Garden Studios — announced by the Arts Alliance investment group — is a new 62,000-square-foot hub in Park Royal in the northwest of the British capital, more central than others and just 7 miles from Soho. Although details weren’t revealed, deals are already reportedly in place with some of the big streamers and…

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Closed Regal cinema, NYC. Photo by Ronny Coste on Unsplash (1)

Moviegoing teeters as 700 North American cinemas close ‘overnight’

Amid an alarming surge in COVID-19 cases, 646 theaters closed late last week in the U.S., along with 60 locations in Canada. It’s no surprise why box office observers are trying to not freak out. Over the Nov. 20-22 weekend, Blumhouse and Universal’s campy body-swap reboot Freaky came in at No. 1 with $1.2 million in its second outing, a steep 66 percent drop. That’s by far one of the lowest chart-topping grosses of all time — much less for the weekend before Thanksgiving, one of the most lucrative corridors of the…

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