Entertainment News Roundup: AMC Falls After Cineworld Bankruptcy Warning on Day ‘APE’ Begins Trading; Explainer – How AMC’s New Preferred Stock Works, Stock Darling, and More

Below is a summary of the entertainment news briefs.

AMC falls after Cineworld bankruptcy warning on day ‘APE’ begins trading

Shares of AMC Entertainment Holdings fell nearly 30% on Monday after British firm Cineworld’s warning of possible bankruptcy spooked investors on the same day as trading of the US movie chain’s preferred shares began to be negotiated. AMC preferred shares, trading under the symbol “APE”, opened Monday at $6.95 on the New York Stock Exchange. The shares, intended to serve as a dividend, will have the same voting rights as ordinary shares and could be used to raise capital in the future, the company said.

Explainer-How AMC’s New Preferred Stock Works

AMC Entertainment Holdings Inc, the movie theater operator that investors have turned into a meme stock, completed listing of its new preferred stock on Monday, paving the way for a potential capital raise. The new move allows AMC to potentially sell billions of dollars of stock without requiring shareholder approval, as it seeks to capitalize on the popularity of meme stocks — stocks traded primarily on the basis of media hype. social rather than on their economic fundamentals.

Cinemas in the spotlight as Cineworld considers possible bankruptcy

The potential bankruptcy of world No. 2 cinema operator Cineworld shines a light on the wider industry as it struggles to recover from the pandemic and compete with the growing popularity of streaming. Indebted Cineworld, which owns the Regal chain in the United States and operates theaters in nine other countries, said last week that a lack of blockbusters was keeping moviegoers away and impacting its cash flow.

Box Office: ‘Dragon Ball Super: Super Hero’ Smashes Idris Elba’s ‘Beast’ With $21 Million Debut

“Dragon Ball Super: Super Hero” topped the box office in its debut, exceeding expectations by racking up an impressive $21 million in North American ticket sales. The animated film, shown on 3,007 screens, is supported by production company Crunchyroll, which specializes in Japanese animated film and television. “Super Hero” is a necessary bright spot in an otherwise dreary month of August at the movies. The latest episode of “Dragon Ball Super” grossed twice as much as the weekend’s other new domestic release, Universal’s survival thriller “Beast,” starring Idris Elba. Waving to mixed reviews, “Beast” opened to $11.5 million in 3,743 North American theaters.

The premiere of “House of Dragon” draws nearly 10 million viewers

The premiere of “House of the Dragon” drew nearly 10 million viewers Sunday on television and on the HBO Max streaming service, the highest viewership for any new original series in network history, HBO reported. Anticipation of the series set 200 years before HBO’s “Game of Thrones” has stoked conversation on social media, where “House of Dragon” remained a trending topic on Twitter for 14 hours, HBO said Monday.

Chinese censors change ending of latest ‘Minions’ movie

Censors have changed the ending of the recent animated film Minions: The Rise of Gru for its release in China, social media users across the country noticed over the weekend. The editing is another example of Chinese authorities editing a popular Hollywood movie to make it more politically correct, leading some viewers to lament the changes.

(With agency contributions.)