RESTRUCTURING
Multinational cinema operator Cineworld‘s proposed restructuring now has the backing of most of its lenders, the company said on Thursday.
The restructuring, which was announced in April, “now has the support of lenders holding and controlling approximately 99% of the legacy facilities and at least 69% of the outstanding indebtedness under the debtor-in-possession facility of Cineworld and certain of its subsidiaries,” the group said in a statement.
Cineworld Group and its subsidiaries had commenced Chapter 11 cases in the United States Bankruptcy Court in September 2022. The group now expects to emerge from the Chapter 11 cases in July and will continue to operate its cinemas as usual without interruption, it said.
The lenders have also agreed to amended and restated versions of the restructuring support agreement and the backstop commitment agreement, which were filed with the United States Bankruptcy Court.
Cineworld owns the Regal cinema chain and is the second largest movie theater operator in the world. Its shares are listed in the U.K.
BOX OFFICE
Leading Indian multiplex chain PVR Inox has revealed that Shinkai Makoto‘s latest anime “Suzume,” which released across the country in April with the director in attendance on a promotional tour, has grossed INR100 million ($1.2 million). “Suzume” is now believed to be the highest grossing Japanese film in India.
APPOINTMENT
Frederik Boutahar has been appointed as VP for A&R Columbia Records Germany, Switzerland and Austria (GSA), reporting into Patrick Mushatsi-Kareba, CEO of Sony Music Entertainment for the region.
Leading the label alongside Alexandra Falken, VP Columbia GSA, Boutahar will focus on signing and developing major national and international artists, as well as building new talent. Boutahar was previously managing director of TwoSides and co-founder and managing director of the label and management agency Irrsinn, where he was instrumental in a variety of major campaigns and the success of artists such as AnnenMayKantereit, Faber, Von Wegen Lisbeth, Giant Rooks, Paula Hartmann, Edwin Rosen and more.
DOCS TO THE FORE
The Whānau Mārama: New Zealand International Film Festival has unveiled eight documentaries selected to screen at the 2023 festival. They include 2023 Berlin festival winner “On the Adamant”; 2022 Cannes Directors’ Fortnight title “De Humani Corporis Fabrica”; Gabriela Cowperthwaite’s “The Grab”; “Ennio,” Giuseppe Tornatore’s tribute to legendary composer Ennio Morricone; “Merkel,” an engrossing look at the life and career of Angela Merkel; “Kokomo City,” which explores the lives of four black trans sex workers in New York and Atlanta; “Subject,” which explores the ethics and responsibility of documentary filmmaking; and Nina Menkes’s “Brainwashed: Sex-Camera-Power,” a feminist dissection of gender dynamics on screen and the connection to real-life discrimination and violence.
The NZIFF 2023 will open in Auckland on July 19, followed by Wellington on July 27, Dunedin on Aug. 3 and Christchurch on August 10. The full programme will be announced in late June.
GALA SCREENINGS
The Melbourne International Film Festival has set “Shayda,” by Noora Niasari, as its opening night gala screening. The film was supported by the MIFF Premiere Fund and won the audience prize earlier this year at Sundance. Another film to get the gala treatment is “Ego: The Michael Gudinski Story,” a tribute to an Australian music legend. The festival runs Aug. 3-20. Further lineup announcements will be made on June 8 and on July 11.
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