AMC Entertainment's Debt Restructuring Fails To Fix Dilution (NYSE:AMC) - Seeking Alpha

Open this photo in gallery:Corus Entertainment’s corporate head office on Toronto's waterfront. Fred Lum/The Globe and MailCorus Entertainment Inc. CJR-B-T has completed its recapitalization plan and named its new board of directors, who will aim to strengthen the ailing media company’s balance sheet as it deals with declining revenue and weak advertising demand. The board faces the challenge of turning around a company affected by numerous rounds of job cuts and operating amid industrywide pressures on traditional broadcasting. Meanwhile, Corus has been forced to compete with streaming giants for viewers’ attention. The company struck an agreement with debtholders last year in order to maintain operations as it struggled with a heavy debt load and liquidity constraints. The restructuring, approved by the telecom regulator in September, saw some of the company’s lenders exchange approximately $500-million in debt for a 99-per cent ownership interest in new parent company Corus Entertainment Holdings Inc., which will manage the company’s 40 television stations and 36 radio stations.

Marvel Studios’ release of Avengers: Endgame: Encore was a shrewd gambit for a few reasons: It put the studio’s most successful film back in conversation right after the juggernaut success of Spider-Man: Brand New Day; it tided die-hards over with new footage ahead of December’s Avengers: Doomsday; and, perhaps most importantly, it raked in an additional $138 million for the film, reinstating its position as the worldwide box office champion over James Cameron’s Avatar. Cameron, who certainly doesn’t spend his precious time fretting about such matters as lifetime financial grosses and being the best in the world at stuff, recently expressed his congratulations to Marvel for once again overtaking his 2009 sci-fi film. “You are one of the people,” the director wrote (per The Wrap) in a composite image from Avatar, with Iron Man at the center of a welcoming Na’vi tribe. “Congratulations to Marvel and the #1 Avengers: Endgame: Encore for bringing moviegoers to the cinemas! – Jim Cameron.”