Editing Cineworld (section)

== History ==
[[File:Cine World in Glasgow.jpg|thumb|[[Cineworld Glasgow|Cineworld in Glasgow]], Scotland. The world's tallest cinema]]
[[File:Cineworld DaltonPark.jpg|thumb|Cineworld at [[Dalton Park]], near [[Seaham]], England]]
[[File:Cineworld Middlesbrough.jpg|thumb|Cineworld in [[Middlesbrough]], England]]
[[File:Cineworld Telford Centre.jpg|thumb|Cineworld in [[Telford]], England]]
Cineworld was founded by Steve Wiener in 1995.<ref name=":2">{{Cite web |date=20 November 2013 |title=Cineworld founder Steve Wiener leaves to 'enjoy fruits' of cinema operator's success |url=https://www.telegraph.co.uk/finance/newsbysector/retailandconsumer/10461751/Cineworld-founder-Steve-Wiener-leaves-to-enjoy-fruits-of-cinema-operators-success.html |archive-url=https://ghostarchive.org/archive/20220112/https://www.telegraph.co.uk/finance/newsbysector/retailandconsumer/10461751/Cineworld-founder-Steve-Wiener-leaves-to-enjoy-fruits-of-cinema-operators-success.html |archive-date=12 January 2022 |url-access=subscription |url-status=live |access-date=16 April 2017}}{{cbignore}}</ref><ref>{{Cite news |date=20 November 2013 |title=Cineworld founder and CEO Steve Wiener to leave after 18 years |language=en |work=Reuters |url=https://www.reuters.com/article/uk-cineworld-idUKBRE9AJ0K320131120 |access-date=10 January 2020}}</ref> The first Cineworld cinema opened in [[Stevenage]], Hertfordshire in July 1996.<ref name="Macnab2018">{{Cite book |last=Geoffrey Macnab |url=https://books.google.com/books?id=LeqKDwAAQBAJ&pg=PA278 |title=Stairways to Heaven: Rebuilding the British Film Industry |date=12 April 2018 |publisher=Bloomsbury Publishing |isbn=978-1-78673-409-9 |pages=278–279}}</ref> A second cinema opened in [[Wakefield]], West Yorkshire, in December 1996 and the third opened in [[Feltham]], London in July 1997.<ref name="EylesSkone2002">{{Cite book |last1=Allen Eyles |url=https://books.google.com/books?id=LvXAOp7CxjwC&pg=PA109 |title=Cinemas of Hertfordshire |last2=Keith Skone |publisher=Univ of Hertfordshire Press |year=2002 |isbn=978-0-9542189-0-4 |page=109}}</ref> In 2004, Cineworld was acquired by Blackstone private equity group for £120m.<ref name=":2" /> The following year, Cineworld acquired the UK and Ireland operations of French cinema company [[UGC (cinema operator)|UGC]].<ref>{{Cite web |date=28 October 2005 |title=Cineworld clear to buy exhib UGC |url=https://variety.com/2005/biz/news/cineworld-clear-to-buy-exhib-ugc-1117921829/ |access-date=16 April 2017 |publisher=Variety}}</ref>

In December 2012, Cineworld acquired the [[Picturehouse Cinemas|Picturehouse Cinema chain]], adding 21 cinemas to its portfolio, including The Little Theatre in Bath, Brighton's [[Duke of York's Picture House, Brighton|Duke of York's cinema]], [[the Cameo, Edinburgh]], the [[Phoenix Picturehouse|Phoenix in Oxford]] and the [[Ritzy Cinema]] in Brixton.<ref>{{Cite web |date=6 December 2012 |title=Cineworld buys Picturehouse |url=https://www.theguardian.com/business/2012/dec/06/cineworld-buys-picturehouse |access-date=16 March 2019 |work=The Guardian}}</ref>

[[The Blackstone Group]], which had invested in Cineworld when it was privately owned, sold its entire remaining 20% shareholding in November 2010.<ref>{{Cite web |title=Blackstone closes the curtains on its interests in Cineworld |url=https://www.thetimes.com/business-money/companies/article/blackstone-closes-the-curtains-on-its-interests-in-cineworld-32cbgm0qz69 |access-date=16 April 2017 |work=[[The Times]]|date=16 November 2010 }}</ref> In August 2013, The Guardian revealed that Cineworld employs 80% of its 4,300 staff on [[zero hour contract]]s.<ref>{{Cite web |last=Simon Neville |title=Curzon and Everyman cinema staff on zero-hours contracts &#124; Film |url=https://www.theguardian.com/film/2013/aug/09/curzon-everyman-cinema-staff-zero-hours |access-date=25 June 2014 |work=The Guardian|date=9 August 2013 }}</ref> In October 2013, the Chester location was closed due to the landowner wanting to develop the land into a supermarket.<ref>{{Cite web |date=22 September 2013 |title=Chester's only remaining cinema to close next month |url=http://www.chesterchronicle.co.uk/news/chester-cheshire-news/chesters-only-remaining-cinema-close-6075975 |access-date=16 April 2017 |publisher=Chester Chronicle}}</ref>

In 2014, Cineworld's Picturehouse chain was subject to [[industrial action]] owing to its refusal to pay the [[Living wage|London living wage]] to its staff. The workforce attracted the support of [[Eric Cantona]].<ref>{{Cite web |last=Spanier |first=Gideon |title=Backers pile pay pressure on Cineworld over Brixton Ritzy row |date=11 June 2014 |url=https://www.standard.co.uk/business/business-news/backers-pile-pay-pressure-on-cineworld-over-brixton-ritzy-row-9527366.html |access-date=24 June 2014 |publisher=London Evening Standard}}</ref> On 27 February 2014, Cineworld completed the takeover of [[Cinema City International|Cinema City International N.V.]]<ref>{{Cite news |date=10 January 2014 |title=UK group to merge with Cinema City International |work=Polskie Radio |url=http://www.thenews.pl/1/12/Artykul/158245,UK-group-to-merge-with-Cinema-City-International |access-date=10 January 2014 |quote=Under the terms of the deal, Cineworld will purchase about 100 multiplexes from CCI for 503&nbsp;million pounds. However, CCI will maintain a 24.9 per cent stake in the combined business.}}</ref> As of March 2015, the Greidinger family (who owned a controlling 54% stake in Cinema City International) held a controlling bloc as the largest shareholder in the enlarged company.<ref>{{Cite web |title=Israel's Mooky Greidinger Agrees To Sell Cinema City Chain of Movie Theatres To UK Based Cineworld For $923 Million in Cash And Stock |url=http://jewishbusinessnews.com/2014/01/12/israels-mooky-greidinger-agrees-to-sell-cinema-city-chain-of-movie-theatres-to-uk-based-cineworld-for-923-million-in-cash-and-stock/ |access-date=26 March 2015 |website=Jewish Business News|date=12 January 2014 }}</ref> In May 2014, [[Mooky Greidinger]] joined the board of directors as CEO, having previously been CEO of [[Cinema City International]].<ref name="Cineworld board">{{Cite web|title=Our Board|url=https://www.cineworldplc.com/en/about-us/our-board/board|access-date=17 June 2020|website=Cineworld}}</ref>

In 2015, Picturehouse unveiled their new West End flagship site, ‘Picturehouse Central’,<ref>{{Cite news |title=Picturehouse to launch new West End cinema |work=Screen Daily |url=https://www.screendaily.com/news/picturehouse-to-launch-new-west-end-cinema-/5077734.article}}</ref> a 1,000-seat seven-screen cinema on Shaftesbury Avenue near [[Piccadilly Circus]] in central London. In August 2016, Cineworld acquired six cinemas<ref>{{Cite news |title=Cineworld completes $124m deal for five Empire cinemas |work=Screen Daily |url=https://www.screendaily.com/news/cineworld-completes-124m-deal-for-five-empire-cinemas/5107103.article}}</ref> from [[Empire Cinemas]], including the [[Empire, Leicester Square|Empire Theatre]] in London's West End, and 4 other locations in Basildon, Poole, Bromley and Hemel Hempstead. Empire Newcastle was also acquired by Cineworld the following year.<ref>{{Cite news |title=IT'S A WRAP |work=Empire Cinemas |url=http://www.empirecinemas.co.uk/news/its_a_wrap/n252}}</ref>

In November 2017, Cineworld began merger talks with the US cinema chain [[Regal Cinemas]].<ref>{{Cite web |last=McNary |first=Dave |title=Regal Entertainment Group in Merger Talks With Cineworld |url=https://variety.com/2017/film/news/regal-entertainment-group-merger-cineworld-1202625002/ |access-date=28 November 2017 |website=Variety|date=28 November 2017 }}</ref> On 5 December, it was officially announced that Cineworld would buy Regal for US$3.6&nbsp;billion (£2.7&nbsp;billion), creating the world's second-largest cinema group. It would also allow Cineworld access to the US market, the largest in the world.<ref>{{Cite web |title=Leading film markets worldwide in 2017, by gross box office revenue (in billions U.S. dollars) |url=https://www.statista.com/statistics/252730/leading-film-markets-worldwide--gross-box-office-revenue/ |website=Statista}}</ref><ref>{{Cite news |title=Cineworld to buy Regal cinemas in blockbuster deal |work=BBC News |date=5 December 2017 |url=https://www.bbc.com/news/business-42234673 |access-date=5 December 2017 }}</ref> The acquisition was completed in 2018.<ref name=":1" /> In March 2019, Cineworld and Eagle Pictures invested in [[Spyglass Media Group]].<ref>{{Cite web |last=Kay |first=Jeremy |date=13 March 2019 |title=Cineworld, Eagle Pictures strategic partners in Spyglass Media Group venture |url=https://www.screendaily.com/news/cineworld-eagle-pictures-strategic-partners-in-spyglass-media-group-venture/5137639.article |access-date=26 April 2019 |website=Screen |language=en}}</ref>

On 16 December 2019, Cineworld announced its proposed acquisition of [[Cineplex Entertainment]]—Canada's largest cinema chain—for approximately US$2.1&nbsp;billion. Cineworld planned to integrate its operations with Regal to achieve cost and revenue synergies and maintain the Cineplex branding for the Canadian operations. This would have made it North America's largest cinema chain.<ref>{{Cite web |title=Regal Owner Cineworld to Acquire Canada's Cineplex for $2.1 Billion |url=https://www.hollywoodreporter.com/news/cineworld-acquire-cineplex-1262868 |access-date=16 December 2019 |website=The Hollywood Reporter |date=15 December 2019 |language=en}}</ref> The deal was approved by shareholders in February 2020.<ref>{{Cite news |date=10 February 2019 |title=Cineworld's $2.8B takeover of Cineplex may lead to job losses |work=Toronto Star |url=https://www.thestar.com/business/2020/02/12/cineplex-q4-profit-down-from-year-ago-due-in-part-to-cineworld-deal-costs.html |access-date=14 February 2020}}</ref> However, Cineworld would terminate the purchase agreement due to alleged "material adverse effect and breaches" by Cineplex. The company subsequently sued Cineworld over the aborted purchase.<ref>{{Cite web|url=https://www.cbc.ca/news/business/cineworld-takeover-cineplex-termination-1.5573054|title=Cineworld scraps $2.8-billion takeover of Canada's Cineplex, setting up legal battle|website=CBC News|date=12 June 2020|language=en}}</ref><ref>{{Cite web|title=Canada's Cineplex Sues Regal Cinemas Owner Cineworld Over Aborted Acquisition Deal|url=https://variety.com/2020/biz/news/cineworld-cineplex-deal-1234698760/|access-date=19 July 2020|website=Variety|date=6 July 2020 |language=en}}</ref> In December 2021, the [[Ontario Superior Court of Justice]] ordered Cineworld to pay damages of C$1.23 billion for pulling out of the acquisition of Cineplex. This decision caused the Cineworld share price to fall by nearly 30% overnight on the [[London Stock Exchange]].<ref name=":4">{{Cite news|last=Walsh|first=Dominic|title=Cineworld reels from £720m damages award over Cineplex deal|newspaper=[[The Times]] |language=en|url=https://www.thetimes.com/article/cineworld-reels-from-720m-damages-award-over-cineplex-deal-lkb7jcc69|access-date=16 December 2021|issn=0140-0460}}</ref> Cineworld said it would appeal the decision.<ref name=":4" />

=== Closure during the COVID-19 pandemic ===
{{See also|Impact of the COVID-19 pandemic on cinema}}
On 17 March 2020, Cineworld and all other cinema companies in the UK temporarily closed all their UK cinemas due to the ongoing [[COVID-19 pandemic]].<ref>{{Cite web |date=17 March 2020 |title=Coronavirus: Odeon, Vue and Cineworld shut UK cinemas |url=https://www.bbc.com/news/entertainment-arts-51925490 |access-date=30 May 2020 |work=BBC News}}</ref> Some 800 staff at Cineworld Group PLC wrote to chief executive Moshe Greidinger requesting their jobs back after many were made redundant "with immediate effect". Employees with over three years of service were told they would be retained with 40% of their salary or average pay. The letter said the move would leave many of the affected unable to afford essentials such as housing and food.<ref>{{Cite web |date=23 March 2020 |title=Protests at UK cinemas' treatment of staff after coronavirus shutdown |website=[[TheGuardian.com]] |url=https://www.theguardian.com/film/2020/mar/23/protests-at-cinema-chains-treatment-of-staff-coronavirus |access-date=25 March 2020}}</ref><ref>{{Cite web |date=23 March 2020 |title=Cineworld Staff Demand Jobs Back Following Covid-19 Layoffs |url=https://www.morningstar.co.uk/uk/news/AN_1584949148333580000/press-cineworld-staff-demand-jobs-back-following-covid-19-layoffs.aspx |access-date=25 March 2020 |website=Morning Star |archive-date=25 March 2020 |archive-url=https://web.archive.org/web/20200325124241/https://www.morningstar.co.uk/uk/news/AN_1584949148333580000/press-cineworld-staff-demand-jobs-back-following-covid-19-layoffs.aspx |url-status=dead }}</ref> In late May 2020, Cineworld announced it planned to reopen all its UK cinemas in July.<ref>{{Cite web |last=Sweney |first=Mark |date=28 May 2020 |title=Cineworld plans to reopen all UK cinemas in July |url=https://www.theguardian.com/business/2020/may/28/cineworld-plans-reopen-all-uk-cinemas-in-july |access-date=30 May 2020 |work=The Guardian}}</ref> On 14 August 2020, it announced a new reopening schedule, in which their Welsh cinemas would open on 14 August, whereas their Irish, Scottish and Jersey screens would open on 26 August. Their English cinemas had been open since 31 July.<ref>{{Cite web |title=Cineworld are Reopening 31st July {{!}} Cineworld cinemas |url=https://www.cineworld.co.uk/static/en/uk/blog/cineworld-cinemas-reopening-safety-measures-coronavirus-covid-19 |access-date=18 August 2020 |website=www.cineworld.co.uk |language=en}}</ref>

In May 2020, [[Alicja Kornasiewicz]] became chair, having been a non-executive director since May 2015.<ref name="Cineworld board" /> On 5 October 2020, Cineworld announced the indefinite re-closure of all owned cinemas in the UK, Ireland, and United States from 8 October, citing the delay of major tentpole Hollywood films due to the wider [[impact of the COVID-19 pandemic on cinema]], and its continued inability to reopen cinemas in the key U.S. market of New York (which CEO [[Mooky Greidinger]] cited as having resulted in the delays). The decision followed the delay of the [[James Bond]] film ''[[No Time to Die]]'' from November 2020 to 2 April 2021. Greidinger said the delay was the "last straw" for Cineworld following a string of other film delays and cancellations.<ref>{{Cite web|last=Tartaglione|first=Nancy|date=5 October 2020|title=Cineworld Boss Mooky Greidinger Says Decision To Close U.S. & UK Cinemas Was Spurred By NY Governor Andrew Cuomo's "Inflexibility"|url=https://deadline.com/2020/10/cineworld-regal-cinema-closures-mooky-greidinger-interview-andrew-cuomo-covid-1234591216/|url-status=live|archive-url=https://web.archive.org/web/20201123200631/https://deadline.com/2020/10/cineworld-regal-cinema-closures-mooky-greidinger-interview-andrew-cuomo-covid-1234591216/|archive-date=23 November 2020|access-date=8 October 2020|website=[[Deadline Hollywood]]}}</ref> Cineworld said that its decision would affect 45,000 workers, 5,500 of them in the UK, and 20,000 in the US.<ref name=":3">{{Cite web|last=Tartaglione|first=Nancy|date=5 October 2020|title=Cineworld Boss Mooky Greidinger Says Decision To Close U.S. & UK Cinemas Was Spurred By NY Governor Andrew Cuomo's "Inflexibility"|url=https://deadline.com/2020/10/cineworld-regal-cinema-closures-mooky-greidinger-interview-andrew-cuomo-covid-1234591216/|access-date=5 October 2020|website=Deadline|language=en-US}}</ref><ref>{{Cite news |last=Hancock |first=Alice |date=5 October 2020 |title=Cineworld shares plunge as chain shuts all UK and US screens |work=[[Financial Times]] |url=https://www.ft.com/content/1545e213-3d92-47e0-ac1b-7d92d39c92b1 |access-date=5 October 2020}}</ref><ref>{{Cite news|title=Cineworld to close all sites in UK and Ireland|url=https://www.irishtimes.com/news/ireland/irish-news/cineworld-to-close-all-sites-in-uk-and-ireland-1.4371652|access-date=6 October 2020|newspaper=The Irish Times|language=en}}</ref> Later that month, it hired [[FTI Consulting]], [[Houlihan Lokey]], and [[AlixPartners]] to help refinance the company's $8 billion debt.<ref>{{Cite web|title=Cineworld screens AlixPartners for talks on $8bn debt pile|url=https://news.sky.com/story/cineworld-screens-alixpartners-for-talks-on-8bn-debt-pile-12111026|access-date=12 October 2021|website=Sky News|language=en}}</ref>

Greidinger said that Cineworld would reopen the cinemas once there was a "solid lineup of releases" ahead. He also said that its Central European operations would remain active on a case-by-case basis, as they have a stronger dependency on domestic productions than Hollywood productions.<ref name=":3" /> Cineworld cinemas reopened in May 2021.<ref>{{cite web|url=https://www.cineworld.co.uk/static/en/uk/blog/cineworld-re-opening-must-see-movies-big-screen|title=Cineworld re-opening: your must-see movies on the big screen|date=12 May 2021|access-date=14 January 2021}}</ref>

=== Bankruptcy ===
The release of ''No Time to Die'' in October 2021 took Cineworld's monthly revenues in the UK and Ireland up to 127% of October 2019's levels.<ref name="Sweney">{{Cite web|last=Sweney|first=Mark|date=14 January 2022|title=''Spider-Man'' drives Cineworld revenues to near pre-pandemic levels|url=https://www.theguardian.com/business/2022/jan/14/spider-man-drives-cineworld-revenues-to-near-pre-pandemic-levels|url-status=live|access-date=14 January 2022|website=[[The Guardian]]|language=en|archive-url=https://web.archive.org/web/20220114113652/https://www.theguardian.com/business/2022/jan/14/spider-man-drives-cineworld-revenues-to-near-pre-pandemic-levels |archive-date=14 January 2022 }}</ref> In December, Cineworld's 2021 global revenue reached 88% of 2019's yearly intake. Cineworld credited this to the success of ''[[Spider-Man: No Way Home]]'', the only film to have made more than $1.5 billion globally since the pandemic began.<ref name="Sweney" />

Before the pandemic, Cineworld had a [[share price]] of £1.97, which had fallen to 20p by mid-August 2022.<ref>{{Cite web |date=19 August 2022 |title=Cineworld preparing to file for bankruptcy after pandemic rout |url=https://www.theguardian.com/business/2022/aug/19/cineworld-preparing-to-file-for-bankruptcy-following-pandemic-rout |access-date=19 August 2022 |website=[[The Guardian]] |language=en}}</ref> That August, the ''[[Wall Street Journal]]'' reported that Cineworld was considering filing insolvency proceedings in the UK after struggling to rebuild attendance and incurring debts of more than $4.8 billion (£4 billion) following the pandemic.<ref>{{Cite news |last=Gladstone |first=Alexander |date=19 August 2022 |title=Regal Cinemas Owner Cineworld Prepares for Bankruptcy Filing |language=en-US |work=[[Wall Street Journal]] |url=https://www.wsj.com/articles/regal-cinemas-owner-cineworld-prepares-for-bankruptcy-filing-11660910944 |access-date=19 August 2022 |issn=0099-9660}}</ref> On 7 September 2022, Cineworld filed for [[Chapter 11, Title 11, United States Code|Chapter 11]] bankruptcy.<ref name="Bankruptcy">{{cite news|last1=Goldsmith|first1=Jill|last2=Tartaglione|first2=Nancy|title=Regal Parent Cineworld Files For Bankruptcy|url=https://deadline.com/2022/09/regal-parent-cineworld-bankruptcy-1235110071/|work=Deadline|date=7 September 2022}}</ref>

In April 2023, Cineworld's stock price plummeted by 30% due to their plan to discontinue the sale of their business in the UK, US, and Ireland. This decision was made because of the company's inability to find a buyer. Cineworld said it was also open to offers for the purchase of its business in regions other than the aforementioned areas. It announced that it plans to secure funding of $2.26 billion and that it had entered into an agreement with its creditors to restructure its debt and come up with strategies to exit bankruptcy.<ref name="bbcapril2023">{{Cite news|url=https://www.bbc.com/news/business-65159744 |title=Cineworld drops sale of UK and US businesses after failing to find buyer |work=BBC|date=3 April 2023|access-date=4 April 2023}}</ref>

In July 2023, Cineworld announced that its chief executive, [[Mooky Greidinger]], would be stepping down. The company's lenders appointed Eduardo Acuna, an executive at [[Cinépolis]], to take his place.<ref>{{Cite news |last=Jones |first=Callum |date=14 July 2023 |title=New boss to lead Cineworld out of bankruptcy as family step aside |newspaper=[[The Times]] |language=en |url=https://www.thetimes.com/culture/film/article/new-boss-to-lead-cineworld-out-of-bankruptcy-as-family-step-aside-dlqgbd7jb |access-date=15 July 2023 |issn=0140-0460}}</ref> On 31 July 2023, Cineworld entered administration in the UK.<ref>{{Cite web|url=https://deadline.com/2023/07/cineworld-uk-administration-restructuring-plan-1235424473/|title=Cineworld enters administration|date=31 July 2023|access-date=3 August 2023|website=Deadline|language=en}}</ref> That same day, Cineworld emerged from Chapter 11 bankruptcy after slashing billions of dollars in debt and the much-needed boost from the [[Barbenheimer]] box office success.<ref>{{Cite web|url=https://www.cnn.com/2023/08/01/business/cineworld-regal-exits-bankruptcy/index.html|title=Cineworld exits bankruptcy|date=31 July 2023|access-date=3 August 2023|website=CNN|language=en}}</ref>

=== Post-bankruptcy ===
In July 2024, Cineworld announced it would close six of its cinemas across the UK as part of a restructuring plan to bring the company back into profitability. These included [[Glasgow]] Parkhead, [[Bedford]], [[Hinckley]], [[Loughborough]], [[Yate]] and [[Swindon]] Regent Circus.<ref>{{Cite web|last1=Ashdown|first1=Marc|date=27 July 2024 |title=Cineworld to shut six branches as part of restructure|url=https://www.bbc.co.uk/news/articles/c6p21e7m43ro|website=[[BBC News]]|language=en}}</ref> In October 2024, Cineworld would drop out of opening a cinema planned in [[Colchester]] as part of the same restructuring.<ref>{{Cite web|last1=Poole|first1=Cameron|date=9 October 2024|title=Colchester Cineworld at Northern Gateway not going ahead|url=https://www.gazette-news.co.uk/news/24641700.cineworld-colchester-site-not-going-ahead-council-confirm/|website=[[Daily Gazette (Colchester)]]|language=en}}</ref>

In December 2024, the company confirmed that it had secured a $1.9 billion debt facility and had adopted the name Regal Cineworld Group.<ref>{{cite news|url= https://www.hollywoodreporter.com/business/business-news/cineworld-multiplexes-uk-restructuring-1236082811/ |title=Cineworld to Close Six More Multiplexes to Complete U.K. Restructuring Post-Bankruptcy|date=10 December 2024|newspaper=Hollywood Reporter|access-date=6 April 2025}}</ref> In December 2024, Cineworld also announced that it would close another six cinemas. These included [[Castleford]], [[Leigh, Greater Manchester|Leigh]], [[Northampton]], [[Middlesbrough]], [[Poole]] and [[Weymouth, Dorset|Weymouth]].<ref>{{Cite web|date=11 December 2024|title=Cineworld to shut 6 more cinemas|url=https://news.sky.com/story/cineworld-to-shut-six-more-cinemas-full-list-of-closures-13271355|website=[[Sky News]]|language=en}}</ref>