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CCV - Churchill Capital V News Story

$9.9 -0.0  -0.1%

Last Trade - 17/05/21

Mid Cap
Market Cap £483.3m
Enterprise Value £482.3m
Revenue £n/a
Position in Universe 3217th / 6846

UPDATE 1-Universal, Cinemark agree on earlier home release for movies

Mon 16th November, 2020 9:52pm
(Adds details on time frame)
    LOS ANGELES, Nov 16 (Reuters) - Cinemark Holdings Inc
 CNK.N  has reached a deal that will allow films from Comcast
Corp's  CMCSA.O  Universal Pictures to be made available in U.S.
homes as soon as 17 days after they debut in theaters, the
companies said in a statement on Monday.
    The deal is similar to one that Universal made earlier this
year with AMC Entertainment Holdings Inc  AMC.N , the world's
largest theater chain, embracing a major shift from traditional
movie release patterns.*:nL2N2EZ27B
    Under the new agreement, Universal could offer movies for
sale via premium video-on-demand after they have played for at
least three weekends in theaters. That would shrink the
exclusive window a movie plays in cinemas to as short as 17 days
rather than the roughly 90 days that has been common practice.
    Movies that open with more than $50 million at box offices
would be exclusive to theaters for at least five weekends, or 31
days, before they could be offered on demand.
    Financial terms of the deal were not disclosed.

 (Reporting by Lisa Richwine, Editing by Rosalba O'Brien)
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