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Sinclair Broadcast Group Lays Off 5% of Workforce Due to 'Profound Impact' of Pandemic

Sinclair Broadcast Group Lays Off 5% of Workforce Due to Profound Impact of Pandemic
Elaine Low, provided by
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Sinclair Broadcast Group is shrinking its workforce by 5%, letting go of several hundred employees as a result of the “profound impact” of the pandemic, said the company in a statement. The company employs over 9,211 people, meaning that approximately 460 staffers were affected by the downsizing.
“The impact of the COVID-19 pandemic continues to be felt across all sectors of the economy, something that can have a profound impact on a company as diversified as ours,” according to a statement from a Sinclair spokesperson. “From local businesses and advertisers to distributors and partners, no component of our business’s ecosystem has been fully shielded from the impact of the global pandemic. In response to this, we are currently undergoing enterprise-wide reductions across our workforce, including corporate headquarters, to ....

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Imax Revenues Get Lift From China Moviegoing Revival, but COVID-19 Takes a Toll

Imax Revenues Get Lift From China Moviegoing Revival, but COVID-19 Takes a Toll
Brent Lang, provided by
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Imax’s quarterly revenue beat Wall Street’s expectations even as its losses were steeper than expected. The theater company reported revenues of $56 million, a 55% drop from the prior-year quarter’s revenues of $124.3 million. It also logged a net loss attributable to common shareholders of $21.2 million, or 36 cents per diluted share. That’s down from a profit of $18.2 million or 29 cents per share in the prior-year period, a time before coronavirus upended moviegoing.
Imax was projected to record a loss of 20 cents on revenue of $47.14 million. The company attributed its stronger than expected sales to the return of moviegoing in China and Japan. Movies like “Detective Chinatown 3” have done huge business in China, fueling a box office revival in the country and potentially setting the stage for positive news in an industry tha ....

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'Peter Rabbit 2' Hops Into Theaters Earlier Than Expected

Peter Rabbit 2 Hops Into Theaters Earlier Than Expected
Rebecca Rubin, provided by
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Running time: 1 hour 33 minutes
In a sign of optimism, Sony Pictures plans to release “Peter Rabbit 2: The Runaway” on the big screen earlier than anticipated.
The animated sequel, which was originally scheduled for June, will now arrive in movie theaters on May 14.
More from Variety
Though the U.S. box office has been slow to return amid the pandemic, films geared toward family audiences have been among the most commercially successful. “Tom and Jerry,” an animated kids movie from Warner Bros., debuted to $14 million last weekend, ranking as the second-best opening of the coronavirus era. Universal’s “The Croods: A New Age” has also been a popular draw, generating $52 million to date. Disney is unveiling “Raya and the Last Dragon,” a cartooned fantasy adventure, in theaters and on Disney Plus for a premium price on March 5. ....

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Epic Games Acquires 'Fall Guys' Studio Mediatonic - Laredo Morning Times

Epic Games Acquires Fall Guys Studio Mediatonic
Alex Stedman, provided by
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“Fortnite” creator Epic Games has acquired Tonic Games Group, the parent company of “Fall Guys: Ultimate Knockout” studio Mediatonic, the companies announced on Tuesday.
The companies did not disclose numbers behind the deal. A blog post on Mediatonic’s website, however, confirmed that the game will remain purchasable on Steam and PlayStation, and the previously announced plans to bring “Fall Guys” to Nintendo Switch and Xbox are still moving forward.
More from Variety
Mediatonic also said there are no plans to make “Fall Guys,” which costs $19.99, free-to-play, as was the case with “Rocket League.” ....

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'Tenet' to Open in New York City Theaters on Friday - Laredo Morning Times

Tenet to Open in New York City Theaters on Friday
Antonio Ferme, provided by
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Nearly six months after “Tenet” was released in the United States, Warner Bros. announced that the Christopher Nolan sci-fi spectacle will open in five New York City movie theater locations this Friday.
Last week, New York Gov. Andrew Cuomo announced that New York City movie theaters will be able to open their doors to the public on March 5.
More from Variety
“Tenet” will play at AMC Lincoln Square, AMC Empire, AMC Kips Bay, Village East by Angelika in 70mm and Showcase Cinemas Jamaica. The film will open on Imax screens a week later, on March 12, at AMC Lincoln Square. ....

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