Regal Parent Cineworld on Path to Chapter 11 Restructuring

British cinema operator Cineworld Group, owner of Regal Cinemas, has proposed a plan to emerge from Chapter 11 bankruptcy. In what is described as a “debt-for-equity swap,” the company would reduce by some $4.53 billion the indebtedness of its principal U.S. claimants, who would be getting a stake in the company in exchange for waiving their claims. The group companies have commitments for roughly $1.94 billion in debtor financing from lenders to help ensure Cineworld operations can continue during its anticipated reorganization, which is subject to court approval. The transaction is expected to “result in very significant dilution of existing equity interests.” Continue reading Regal Parent Cineworld on Path to Chapter 11 Restructuring

Drone Debate Continues as Hollywood Seeks Production Options

Hollywood continues to consider drones for media production since they have the potential to save money, offer creative options and create a safer set. Drone-makers, rigging manufacturers and aerial production companies have joined forces to offer camera-equipped drones and services. However, federal law prohibits the commercial use of unmanned aircrafts. The FAA is currently reviewing a request by the MPAA to allow drones for use by the film and television industry. Continue reading Drone Debate Continues as Hollywood Seeks Production Options

CineEurope 2013: RealD Rolls Out LUXE Large Format Plans

RealD is launching a new large format brand, LUXE: A RealD Experience, with hopes of becoming the standard for premium 2D and 3D cinemas across Europe. The cinema technology company presented its LUXE initiative to exhibitors at CineEurope in Barcelona on Monday. The new packaging of LUXE technology standards for screen size, brightness, sound and seating could become a competitor to large format exhibitor IMAX. Continue reading CineEurope 2013: RealD Rolls Out LUXE Large Format Plans