There’s Hope for American Movie Theaters After All
WiredA year ago it would’ve seemed unfathomable: Over the Memorial Day holiday, a single film had a good opening weekend at the North American box office. After 15 months of Covid-19 theater closures, delayed release dates, and general anxiety about the future of moviegoing, A Quiet Place Part II is projected to bring in north of $57 million. To be clear, $57 million isn’t what Hollywood insiders would definitely call “boffo”—previous Memorial Day weekends have seen openings that top $100 million. The company, which was facing a grim future this time last year, is now raising money through the sale of 8.5 million shares of its stock to Mudrick Capital Management, LP and is considering purchasing the locations previously held by ArcLight Cinemas and Pacific Theaters—a move that could give new life to the iconic Cinerama Dome, which, back in April, ArcLight said wouldn’t reopen post-Covid.