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1<br />
EXHIB QUIPS<br />
'The fight to keep small local cinemas<br />
is.. .a worthy cause ami consumes the<br />
attention of many liberal democrats, to<br />
the extent that if<br />
a nuclear missile targeted<br />
on Bournemouth were now over<br />
Turkmenistan and heading our way at<br />
Much 2. they would point out that this<br />
still left time to finish the debate on<br />
local cinema closures. "—United<br />
Kingdom newspaper columnist Simon<br />
Hoggart's opinion on the priorities of<br />
the country's "LibDem" political<br />
party (The Guardian).<br />
'Holly .,/M do fine nthoul my<br />
participation. A rare visit<br />
to the local<br />
cineplex recently with my spouse,<br />
daughter and a friend cost $28. 1 realfounds<br />
me that regular moviegoers can<br />
take this kind oj pockethook pummeling<br />
every weekend.<br />
When. I wonder, are<br />
the economic effects of NAFTA going<br />
to affect the film industry and give consumers<br />
relief with lower-priced imports<br />
from Canada and Mexico?"—Writer<br />
Jeffrey Shaffer discussing why "the<br />
success or failure of entire companies"<br />
do not necessarily depend on the<br />
"behavior of single consumer|s|," such<br />
as himself (Christian Science Monitor).<br />
various restructuring and recapitalization<br />
alternatives, we concluded that a consensual<br />
prepackaged reorganization under Chapter<br />
11 presents the most effective means to<br />
restructure the company's debt, strengthen its<br />
capital structure and position Regal to compete<br />
effectively in the film exhibition industry,"<br />
notes Regal CEO Michael Campbell.<br />
According to Campbell, the 3,898-<br />
screen circuit aims to complete its reorganization<br />
within two to three months after<br />
officially filing for Chapter 11 protection,<br />
with business operations at its 338 theatres<br />
expected to continue as normal during the<br />
entire bankruptcy process.<br />
AMC CONTINUES<br />
MONTHLY PASS PROMOTION<br />
Exhibition giant AMC Entertainment<br />
intends to extend the trial period for its promotional<br />
pass, which allows patrons to see<br />
one movie per day for a flat monthly fee, as<br />
long as subscribers sign up for a minimum<br />
of six months. The Kansas City-based<br />
chain, which first launched the promotion<br />
last June in Omaha, Neb. and Oklahoma<br />
City, Okla. (see Exhibition Briefings,<br />
August 2001), recently announced that it<br />
will continue to run the program in the two<br />
test markets for an additional six months.<br />
The company is attempting to assess the<br />
number of program subscribers that will<br />
renew their passes once the initial sixmonth<br />
period has expired. AMC is also<br />
looking to determine the frequency of pass<br />
use during the winter season.<br />
"We launched the MovieWatcher<br />
Premium Card test with the intention of<br />
growing box-office receipts through an<br />
increase in moviegoing frequency," says<br />
AMC topper Phil Singleton. "We are encouraged<br />
that the test appears to be having the<br />
desired positive effect on both frequency<br />
and total admissions revenue."<br />
AMC had originally planned to test the<br />
movie pass in four more markets, but decided<br />
against the expansion since similar results<br />
in Omaha and Oklahoma City seem to indicate<br />
minimal differences in regional performance.<br />
While the theatrical circuit is optimistic<br />
about the promotion, a handful of distributors<br />
have expressed concern about the<br />
possibility of shrinking profits from revenue<br />
splits. AMC has stated that it would continue<br />
to pay on a per-viewing basis, but not all studios<br />
are reassured. Last summer, Paramount<br />
decided to withhold Robert De Niro starrer<br />
"The Score" from AMC theatres in the<br />
Omaha and Oklahoma City markets.<br />
NYC CINEPLEXES CHANGE<br />
FROM REGAL TO UATC<br />
New<br />
Regal Cinemas has officially exited<br />
York City as a bankruptcy filing looms near<br />
for the Knoxville, Tenn. -based chain (see<br />
page 111). The company is said to be transferring<br />
leases on its NYC sites—including a<br />
16-screener in Battery Park, a Brooklyn<br />
Heights 12-screen complex and the 14-plex<br />
Kaufman Astoria in Queens—to United<br />
Artists Theatre Circuit. The Englewood,<br />
Colo. -based exhibition company is<br />
also taking<br />
over the lease for Regal's state-of-the-art<br />
multiscreener in North Bergen, N.J. All of<br />
N" 83 YEARS PRODUCING AND "'<br />
DUPLICATING ROLLING STOCK<br />
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