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Cinemark CEO Touts Box Office Rebound, Amazon MGM Slate & Industry Track Record Amid Economic Uncertainty; Also Sees More M&A
The CEO of the nation's third largest theater chain was upbeat on a theatrical rebound, Amazon MGM's movie slate and more M&A on a quarterly earnings call.
Gamble sees the box office roll continuing given the “strength and breadth” of content in the pipeline including fare studios showcased recently at CinemaCon enhanced by a ramped up theatrical commitment at Amazon, MGM. The Trump administration has launched a global trade war imposing steep tariffs on goods coming into the U.S. It’s a messy and constantly evolving situation but one that is seen raising prices for consumers and slowing economic growth Stateside and in other countries. Going to the movies remains one of the least expensive, high quality, localized entertainment options for spending two to three hours of time.” Nor is there evidence that people cut down on premium formats or concessions in tough times, he added.
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