AMC Is Running Out of Cash, Sells Some Shares and Assets

AMC Entertainment, the world’s largest movie theater chain, will run out of cash by the end of 2020 if current conditions do not change. Although it’s reopened 83 percent of its U.S. theaters, attendance is down 85 percent from a year ago. In September, AMC set a goal of raising $180 million but so far has raised only about $37.8 million by selling shares. Other fundraising options include taking on debt or selling assets. AMC sold its nine theaters in Europe’s Baltic region of Europe for about $77 million. Continue reading AMC Is Running Out of Cash, Sells Some Shares and Assets

Industry Task Force Publishes Guide for Resuming Production

The Industry-Wide Labor-Management Safety Committee Task Force (“The Task Force”) submitted its suggested safety guidelines for the reopening of film, television and streaming industries to New York governor Andrew Cuomo and California governor Gavin Newsom. The Task Force, comprised of studios, guilds and producers, published a 22-page “Proposed Health and Safety Guidelines” white paper that includes the need for cast and crew physical distancing “whenever possible.” Industry leaders based the proposals on discussions with health experts and guidelines issued by the CDC and OSHA.  Continue reading Industry Task Force Publishes Guide for Resuming Production

HPA Forms Task Force to Guide Return of Film & TV Industry

COVID-19 stopped film and television production in its tracks. Now, the Hollywood Professional Association (HPA) formed an HPA Industry Recovery Task Force to examine how to move forward with new content creation and sustainably restart the production and post-production industries as the world wrestles the pandemic. HPA president Seth Hallen announced that the task force’s “focus is to understand how to get our industry back to work.” The Hollywood film and TV industry directly employs about 927,000 people across the country. Continue reading HPA Forms Task Force to Guide Return of Film & TV Industry

Some Drive-Ins Experience New Life as Movie Theaters Close

Drive-in theaters have been in decline since the 1970s, with only 300 such theaters still open in the U.S. Now, with movie theaters closed due to the coronavirus pandemic, some of those remaining drive-ins are experiencing a bit of a renaissance. In Virginia, one 54-year old theater is open for business, with at least three of that state’s other drive-ins ready to reopen. According to United Drive-In Theatre Owners Association president John Vincent, about 150 drive-ins will reopen in the next three weeks as the shutdowns are lifted. Continue reading Some Drive-Ins Experience New Life as Movie Theaters Close

Amazon and Facebook to Lease More Space in Manhattan

Less than a year after Amazon pulled out of a deal to build its second headquarters (HQ2) in Manhattan, it inked a lease for 335,000 square feet in the neighborhood to house more than 1,500 employees. Facebook is also reportedly in talks to lease 700,000 square feet in a nearby neighborhood. If that plan goes through, the social media platform, which has other real estate holdings in the city, would become one of its largest corporate tenants, which include JPMorgan Chase and Bank of America. Continue reading Amazon and Facebook to Lease More Space in Manhattan

Facebook’s Latest Misstep: Culling Data From Popular Apps

Many smartphone users provide personal data to apps, from intimate health information to shopping habits. What the users don’t know is that Facebook culls the data seconds after they enter it, even if they have no connection to Facebook. Eleven popular apps, which have been downloaded millions of times, have been sharing data with Facebook — without any obvious disclosure to users providing that sensitive data. The revelation of that information has created a shakeup at Facebook and the involved apps. Continue reading Facebook’s Latest Misstep: Culling Data From Popular Apps

In Surprise Move, Amazon Opts to Scrap HQ2 Plans in NYC

Amazon has decided to cancel plans to develop a new campus in New York’s Long Island City, taking with it the promise of 25,000 new jobs and $2.5 billion in investment. In recent weeks, a debate has heated up between government officials who supported the e-commerce leader’s plans and New York politicians, activists and labor union leaders who have criticized a lack of transparency regarding deal specifics and questioned the necessity to provide Amazon with tax incentives worth billions. Despite the debate, the news still came as a surprise to many, especially real estate developers and renters who were rushing to the Long Island City neighborhood. Continue reading In Surprise Move, Amazon Opts to Scrap HQ2 Plans in NYC

Amazon Faces Opposition to its Planned New York Campus

According to sources, Amazon executives are rethinking the decision to build a New York City campus, which would create 25,000 jobs in Long Island City and $2.5 billion in investment. That’s heated up the conflict between government officials who support the project and local officials who have been vocally opposed to giving the company tax incentives worth billions. Should Amazon abandon its plan, it would also be a dramatic upset of its very public search for a second headquarters over a year’s time. Continue reading Amazon Faces Opposition to its Planned New York Campus

Experts Question Apple’s Security in Light of FaceTime Bug

News site 9to5Mac reported that Apple’s FaceTime app, which places audio/video calls over the Internet, had a significant bug: an iPhone user could call another iPhone user and eavesdrop on that person’s conversation through the phone’s microphone — even if the call recipient doesn’t answer the call. The bug was actually discovered a full week before Apple disabled Group FaceTime and stated that it was working to fix it. In that gap, a developer discovered the bug, which was reported in 9to5Mac. Security researchers have dubbed the glitch FacePalm. Continue reading Experts Question Apple’s Security in Light of FaceTime Bug

Amazon Confirms Selection of New York and Virginia for HQ2

Seattle-based Amazon finally announced that it has selected two locations for its next major corporate outposts. Referring to the planned sites as headquarters, the company will eventually bring 25,000 employees to both Long Island City in Queens, New York and the Crystal City area in Arlington, Virginia, outside of Washington DC. Amazon also revealed plans to build a third facility in Nashville, Tennessee — an operations facility that will house 5,000 employees. The new headquarters are expected to cost $5 billion in construction and investments. Continue reading Amazon Confirms Selection of New York and Virginia for HQ2

California Law Would Require Social Platforms to Report Bots

State legislators in California are pushing for a law that would require Facebook, Twitter and other social media platforms to identify bots, automated accounts that can be created or used by individuals or organizations. Most recently, bots, reportedly out of Russia, generated hundreds of posts on gun control in the wake of the shooting in Florida’s Marjory Stoneman Douglas High School. Russia-linked bots also played a role sharing Donald Trump’s tweets almost 500,000 times in the final weeks of the 2016 election. Continue reading California Law Would Require Social Platforms to Report Bots

AT&T Chief Exec Calls for Creation of an Internet Bill of Rights

AT&T, one of the winners in the recent end of net neutrality rules, is clarifying its stance. In an open letter that was published nationwide, including in The Wall Street Journal, The New York Times, The Washington Post, and the Los Angeles Times, chief executive Randall Stephenson called on Congress to establish an Internet Bill of Rights that would apply to all Internet companies and guarantee “neutrality, transparency, openness, non-discrimination and privacy protection for all Internet users.” Continue reading AT&T Chief Exec Calls for Creation of an Internet Bill of Rights

New York Governor Signs Bill Legalizing Daily Fantasy Sports

New York passed a bill in June legalizing daily fantasy sports, enabling popular services such as DraftKings and FanDuel to operate in the state. Yesterday, Governor Andrew Cuomo signed the bill into law. “Daily fantasy sports have proven to be popular in New York, but until now have operated with no supervision and no protections for players,” explained Cuomo. “This legislation strikes the right balance that allows this activity to continue with oversight from state regulators, new consumer protections, and more funding for education.” Continue reading New York Governor Signs Bill Legalizing Daily Fantasy Sports

Fantasy Sports May Return to New York if Governor Signs Bill

The New York legislature passed a bill over the weekend that would legalize and regulate fantasy sports in the state. Last fall, Attorney General Eric Schneiderman said daily fantasy sports are a violation of state gambling laws; courts then ruled to shut down DraftKings and FanDuel. The new decision could impact the industry’s ongoing efforts “to pass bills in statehouses that would validate its contention the practice isn’t gambling and shouldn’t be subject to state gambling bans or other restrictions,” reports The Wall Street Journal. “The industry has won passage of bills in Indiana, Virginia, Tennessee, Mississippi, Missouri and Colorado, but it has lost battles in several other states.” Continue reading Fantasy Sports May Return to New York if Governor Signs Bill