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Specialty Film Exhibitor Reading International Reports 96% Drop In Q2 Revenue
While the blows absorbed by mass-market U.S. exhibitors like AMC and Cinemark during COVID-19 have dominated the headlines, the damage appears to be even more severe on the specialty front.
Reading International, a Culver City, CA-based arthouse and real estate firm, reported a 96% decline in second-quarter revenue on…
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By Dade Hayes
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Reading International May Be For Sale Following Court Ruling In Family Squabble
Reading International, or at least a major stake in it, might soon be on the block following a tentative court ruling involving a squabble among members of the Cotter family that controls the No. 9 exhibition chain.
California’s Superior Court in Los Angeles wants to appoint a temporary trustee who would have "the…
Reading International Shares Touch New High After Bidders Sweeten Offer
Shares of Reading International are up about 5% so far this week and touched an all-time high of $17.18 today after Patton Vision’s Paul Heth released a letter to the company disclosing that a consortium he’s leading has raised its offer for the nation’s No. 11 exhibition chain by 8.8% to $18.50 a share — or $436…
Reading International Shares Rise After It Says It Rejected Buyout Offer
Is Reading International, the USA’s No. 11 movie exhibitor, on the block? Not yet, it seems. But the company’s stock price is up 8.3% this week after a disclosure that it rejected an unsolicited offer of about $370 million last month.
The board “carefully evaluated the indication of interest” from an unnamed suitor…
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