Analysts Bullish On Reopening Theater Stocks, But Pacific, ArcLight To Close

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Analysts bullish on reopening theater stocks, but Pacific and Arclight to close

Some of the optimism also was fired by a good second weekend for the monster match-up from AT&T-owned Warner Bros. and Legendary Pictures. The latestspectacle breathed fire on screen and at the box office in its second weekend, pulling in another $13.5 million toIn normal times, that two-week total would have represented a hugely disappointing debut weekend for a reliable franchise, and especially for a film that cost an estimated $160 million to make.

But any reopening appears likely to go ahead without at least one notable chain, Pacific Theaters and its upscale corporate sibling, ArcLight Cinemas.that owner Decurion will be “handing the keys back to the landlord.” That the chains aren’t yet for sale suggests plenty of wheeling and dealing ahead, and the chains aren’t necessarily dead. But it’s bad news for the chains’ employees, who have been laid off, and for film-industry fans and insiders who particularly prized the ArcLight’s upscale experience.

“To all the Pacific and ArcLight employees who have devoted their professional lives to making our theaters the very best places in the world to see movies: we are grateful for your service and your dedication to our customers. To our guests and members of the film industry who have made going to the movies such a magical experience over the years: our deepest thanks. It has been an honor and a pleasure to serve you. Inquiries at inquiries@pacifictheatres.com.

 

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