Welcome to our dedicated page for Cinemark Hldgs news (Ticker: CNK), a resource for investors and traders seeking the latest updates and insights on Cinemark Hldgs stock.
Cinemark Holdings, Inc. reports company developments tied to theatrical exhibition, box office performance, guest programs and capital actions. The company operates movie theaters in U.S. markets and in South and Central American countries, generating revenue from ticket sales, concessions, screen advertising, screen rentals and related theater services.
Recurring news for CNK includes quarterly earnings, domestic and international attendance trends, film-slate performance, premium formats such as Cinemark XD, theater amenities including Luxury Lounger recliners and D-BOX motion seats, loyalty programs such as Cinemark Movie Club, family-film promotions and specialty-event distribution through Fathom Entertainment. Updates also cover investor conference participation, dividends, share repurchases and other public-company communications.
Cinemark Holdings announced that its subsidiary, Cinemark USA, priced a $500 million offering of 7.0% Senior Notes due in 2032. The notes, priced at 100% of their principal amount, will accrue interest from July 18, 2024, and the transaction is expected to close on that date, pending customary conditions. The proceeds will fund a tender offer for Cinemark USA's 5.875% senior notes due 2026, cover related fees, and support general corporate purposes. The notes will be senior unsecured obligations, guaranteed by specific Cinemark USA subsidiaries, and offered only to qualified institutional buyers and certain non-U.S. persons.
Cinemark, a leading theatrical exhibition company, has partnered with Mike’s Hot Honey to offer a new range of spicy-sweet snacks in its U.S. theaters. This collaboration introduces Mike’s Hot Honey into cinema concessions for the first time, with offerings including popcorn, hot food items, and unique drinks. Special -time menu items such as fried chicken sandwiches, flatbread, pizza, loaded fries, wings, and milkshakes will be available at select locations. The press release highlights Cinemark’s success with spice-enhanced items, having sold 2.6 million units in 2023, and the convenience of online mobile ordering and home delivery through partnerships with DoorDash, Grubhub, and Uber Eats.
In addition, Cinemark Movie Rewards program members can earn points for every dollar spent.
For more information and to view participating locations, visit Cinemark's website.
Cinemark Holdings, Inc. (NYSE:CNK) announced a private offering of $500 million senior notes due 2032 through its subsidiary, Cinemark USA. The senior notes will be guaranteed by certain subsidiaries of Cinemark USA and are senior unsecured obligations. Proceeds from the offering will fund a cash tender offer to purchase all of Cinemark USA's 5.875% senior notes due 2026, pay related fees and expenses, and cover general corporate purposes. The notes and guarantees will be offered to qualified institutional buyers and certain non-U.S. persons, exempt from registration under the Securities Act of 1933 and applicable securities laws.
Cinemark USA, a subsidiary of Cinemark Holdings (NYSE: CNK), has initiated a cash tender offer to buy back its outstanding 5.875% senior notes due 2026. As of July 9, 2024, $405 million worth of these notes were still outstanding. The offer, detailed in the Offer to Purchase document dated July 9, 2024, will expire on July 15, 2024, at 5:00 p.m. New York City time, unless extended or terminated earlier. Those who tender their notes by the Expiration Date will be eligible for a cash consideration per $1,000 principal amount of notes, determined based on a fixed spread of 50 basis points over the yield of the 1.750% U.S. Treasury due March 15, 2025.
The settlement date is expected to be July 18, 2024. The offer's completion is subject to certain conditions, including securing additional debt financing to fund the purchase of all outstanding notes and associated fees. The tender offer can be withdrawn or amended as per applicable law but is not contingent on a minimum amount of notes being tendered.
LAIKA is celebrating the 15th anniversary of its acclaimed 2009 stop-motion animated film Coraline by re-releasing it in newly remastered 3D. The film will be in theaters globally for a engagement starting August 15, with Fathom handling the US distribution and Trafalgar Releasing managing international distribution. Tickets go on sale June 21 at 6am PT. The re-release will also include an early glimpse of LAIKA's upcoming film, Wildwood. Coraline, directed by Henry Selick and based on Neil Gaiman's book, was nominated for an Oscar and a Golden Globe and has won multiple awards including the Cristal Award at Annecy.
The re-release aims to attract a new generation of fans and provide an enhanced viewing experience for long-time enthusiasts.
The press release announces the nationwide theater release of 'SOMETHING TO STAND FOR' with Mike Rowe, premiering on June 27, 2024. Tickets go on sale starting May 24. The film, produced by Trinity Broadcasting Network, Fathom, Impact Productions, and mikeroweWORKS, explores untold stories from American history, focusing on the American Revolution, World War II, the Civil Rights movement, and more. Mike Rowe describes the project as a tribute to the American spirit and the country's heroes. The content is derived from Rowe's podcast 'The Way I Heard It' and TV show 'The Story Behind the Story.'
The film's aim is to highlight the extraordinary sacrifices made by individuals who shaped America. For more information, visit the provided link.
DC Studios, HBO Documentary Films, and CNN Films are releasing the documentary “Super/Man: The Christopher Reeve Story” in U.S. theaters on September 21, 2024, with an encore on September 25, Reeve’s birthday. The film, directed by Ian Bonhôte and Peter Ettedgui, will roll out internationally afterward. This documentary, which features personal archive material and interviews with Reeve’s children, explores Reeve’s life from his rise to fame as Superman to his activism following a paralyzing accident. Fathom Events is partnering in the U.S. screening.
National CineMedia (NASDAQ: NCMI), the largest cinema advertising platform in the US, has appointed Catherine Sullivan as President of Sales, Marketing, and Partnerships, effective May 16, 2024.
With over 30 years of experience in the media and advertising industry, Sullivan will lead the company's go-to-market strategy, reporting directly to CEO Tom Lesinski.
Her previous roles include CEO at PHD Media US and Chief Investment Officer at Omnicom Media Group. Current President Scott Felenstein will depart at the end of the quarter, aiding in the transition.
National CineMedia, Inc. (NASDAQ: NCMI) reported a 7.2% increase in total revenue for the first quarter of 2024 compared to the same period last year. The company saw improvements in operating loss, adjusted OIBDA, and net loss. While net loss per diluted share decreased, adjusted OIBDA and adjusted net loss are non-GAAP measures. The company announced an optimistic outlook for the second quarter of 2024, with expected total revenue of $49.5 million to $51.5 million and Adjusted OIBDA in the range of $3.5 million to $4.5 million. The company continues to focus on creating value for its shareholders through share repurchase programs and strong performance in the cinema advertising network.
Cinemark Holdings, Inc. reported first-quarter 2024 results, including total revenue of $579 million, net income of $25 million, and Adjusted EBITDA of $71 million with a 12.2% margin. The company strengthened its balance sheet by redeeming $150 million of senior secured notes. Despite strike-induced headwinds, the North American industry box office performed well, demonstrating consumer enthusiasm for cinematic experiences. Cinemark entertained 40 million moviegoers globally, surpassed industry recovery benchmarks, and maintained market share growth. Financially, revenue decreased by 5.2% due to lower attendance, but net income improved from a loss to $24.8 million. Adjusted EBITDA decreased to $70.7 million. The company remains optimistic about the industry outlook and its competitive position.