CNWGY - Cineworld to close Regal UK theaters after 007 delay

Just a couple of days after another major movie release delay, Cineworld (CNWGY) is set to close all its 543 Regal Cinema venues and its 128 theaters in the U.K. and Ireland.On Friday, MGM (OTC:MGMB) and Universal (NASDAQ:CMCSA) pushed the release of the latest James Bond title No Time to Die, Daniel Craig's last outing in the role, to April 2021.The delays of tentpole releases is making movie exhibition "unviable", U.K.-based Cineworld is expected to write to Prime Minister Boris Johnson.The closures, with no timeline for reopening, will affect 5,500 jobs in the U.K.Delayed titles Wonder Woman 1984 and Dune (T) are set for December release, so far. The top film on release calendars pre-December is now Pixar (DIS) release Soul, set for Nov. 20.The decision will raise questions for other theater operators: AMC (AMC), Cinemark (CNK), IMAX (IMAX), Marcus (MCS), Reading International (RDI) and in-cinema advertiser National CineMedia (NCMI).

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Cineworld to close Regal, UK theaters after 007 delay