2023-06-05 09:30:45 ET
- National CineMedia ( NASDAQ: NCMI ) said its unit National CineMedia LLC (NCM) signed a new long-term advertising agreement with Regal Cinemas.
- Under the new 10-year agreement — which will replace a previous agreement with Regal — NCM acquires exclusive right to provide on-screen advertisements at Regal Cinemas' over 6,000 screens and 450 theaters.
- NCM said the agreement is a milestone in its restructuring and culminates its successful mediation with Regal Cinemas.
- The new agreement, is subject to approval by the U.S. Bankruptcy Court for the Southern District of Texas, which is expected to occur by June 30.
- NCM noted that it will run its Noovie show, featuring hundreds of national, regional, and local advertisers, and high impact Platinum ad unit within the trailers.
- NCMI +12.33% to $0.34 premarket June 5
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National CineMedia stock rises on advertising pact with Regal Cinemas