Cineworld chief executive Mooky Greidinger has confirmed the company’s plan to reopen cinemas in the UK in May.
The first phase of their reopening will begin in the US, with Regal cinemas across the country due to open their doors from April 2.
Griedinger also confirmed that a deal between Cineworld and distributor Warner Bros has just been agreed, which would give the cinema chain a 31-day exclusivity period to screen their titles before being released on streaming platforms.
“We are very happy for the agreement with Warner Bros,” Greidinger said in a statement obtained by Sky News.
“This agreement shows the studio’s commitment to the theatrical business and we see this agreement as an important milestone in our 100-year relationship with Warner Bros.”
Cineworld Action Group condemned the decision, which would give bosses over £200million in shares, by writing: “As thousands of Cineworld and Picturehouse staff across the country continue to struggle to afford basic necessities, top Cineworld bosses are set to potentially receive up to £33m each in share awards.”
This is utterly despicable. As thousands of Cineworld and Picturehouse staff across the country continue to struggle to afford basic necessities, top Cineworld bosses are set to potentially receive up to £33m each in share awards. https://t.co/HRLQ52YS48
— Cineworld Action Group (@cineactiongroup) January 25, 2021
Cineworld closed all 127 sites across the UK and Ireland indefinitely last October, following delays to a number of major blockbuster titles including James Bond film No Time To Die.
“I’m extremely disappointed in [007 studio] MGM as No Time To Die could have saved the cinema industry. It’s what we were all holding out for,” an anonymous staff member told NME at the time.
“They could’ve been known as the studio that saved cinemas as opposed to the studio that condemned them.”