Batman and Robin figures at the DC Comics Superstore, WB Movie World

Australia: Village Roadshow agrees to takeover talks

Theme parks and cinema operator Village Roadshow has agreed to exclusive negotiations with private equity firm BGH Capital after a caveat-heavy takeover offer of up to $468.5 million. The preliminary agreement announced on Monday morning puts an end to months of takeover speculation and competing bids for the troubled entertainment provider, which has endured a 55 per cent plunge in its share price since February, as the coronavirus pandemic forced it to cease virtually all operations. As a result, the $2.40-per-share acquisition proposal is significantly lower than the initial $4-per-share…

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AMC Empire Theater NYC with Amazon smile logo superimposed

Amazon: coming soon to an AMC cinema near you?

As AMC Theatres struggles financially because of the coronavirus pandemic, Amazon is reportedly considering buying out the company. As movie theaters struggle to cope with their coronavirus-related shutdowns, Amazon might be looking into acquiring AMC Theatres. In mid-March, as the outbreak worsened, public spaces began to close down to prevent further spread of the virus. Movie theaters were among them, with chains like AMC, Regal Cinemas, and Showcase Cinemas shuttering their doors. Some hoped to reopen within weeks, but now, two months later, most theaters remain closed. Many aim to…

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For sale sign on restaurant. Photo from Gulf News

Global pandemic: UAE’s restaurants start to close down

Dubai: Restaurant businesses in the UAE are starting to put up ‘For Sale’ signs, with their owners realizing there is no escape from the destruction set off by the COVID-19 pandemic. Licenses and even the equipment and furniture are being offered at steep discounts in hopes that someone out there will buy them. “It’s a situation where for many if they try to open, it would mean more cash bleeding and which they will never recover,” said an industry source. “Only government-owned locations have been given rent deferrals or rent-free…

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