Cineworld Nears New Ad Deal That May Spurn National CineMedia
- ‘The time has come’ to strike new deal, Cineworld lawyer says
- Bankrupt theater operator has also begun trying to sell itself
A Cineworld Group Plc cinema in Leeds, UK.
Photographer: Anthony Devlin/BloombergThis article is for subscribers only.
Cineworld Group Plc may strike a new in-theater advertising deal with a company other than existing partner National CineMedia Inc. in the very near future, according to a lawyer for the bankrupt cinema operator.
The company is in talks with multiple theater advertisers on a deal and National CineMedia’s current offer isn’t the best on the table, Josh Sussberg, Cineworld’s bankruptcy lawyer, said in a hearing Wednesday. A new deal could immediately save Cineworld $50 million, he said.