Kinepolis: Warner Bros' unprecedented move hammers shares

Kinepolis NV

04/12/2020 08:43

** Shares in Belgian cinema operator Kinepolis  KIPO.BR 
plummet 12.5% after AT&T Inc's  T.N  Warner Bros studio said on
Thursday it will debut all of its 2021 films in theatres and on
the HBO Max streaming service on the same day  urn:newsml:reuters.com:*:nL1N2IJ1ZJ
    ** KBC Securities calls Warner's move a "dramatic change"
that shows just how much COVID-19 and streaming have disrupted
the industry
    ** KBC says the progress of new formats such as Premium
Video on Demand (PVOD) are potentially temporarily pressuring
Kinepolis' model; cuts the stock to "hold" from "accumulate" on
new uncertainties
    ** The brokerage adds, though, that the audience is ready
and will visit the cinema if the movies are there, estimates
that mid-Q2 2021 will be the "new normal"
    ** Shares in Cineworld  CINE.L , owner of the U.S. Regal
cinema chain, drop 10%
    
     

 ((michal.aleksandrowicz@tr.com))