ADDED
As of March 30, 2026, there were 21,036,670 shares of class A non-voting common stock, par value $0.01 per share and 1,680,590 shares of class B voting common stock, par value $0.01 per share, outstanding.
We group our businesses into two operating segments, which are owned and operated through various operating subsidiaries: Theatrical Motion Picture Exhibition ( Cinema Exhibition ), through as of the date of this 2025 Annual Report, our 58 cinemas.
Real Estate , including real estate development and the rental or licensing of retail, commercial and live theatre assets comprised, as of the date of this 2025 Annual Report, of approximately 9,114,000 square feet of land and approximately 429,000 square feet of net rentable area.
Market and External Impacts on our Cinema Exhibition Business and Our Company s Responses We believe that, although the global cinema industry box office was relatively flat for 2025 as compared to 2024, our industry has over the past year demonstrated its resilience and its continuing ability to attract customers looking for an outside the home entertainment experience.
The success of releases such as A Minecraft Movie , Lilo Stitch , Superman , Jurassic World: Rebirth , Zootopia 2 , Wicked: For Good , Sinners , and Avatar: Fire and Ash , together with what we believe is a strong film slate through the end of 2026, make us optimistic about the future of our cinema business.
While the COVID 19 pandemic is substantially behind us, its lasting effects on both the global economy and the cinema industry remain evident.
The pandemic had a profound impact on our Company s operations and significantly strained our liquidity.
Beginning in March 2020, government mandates required the temporary closure of all our cinemas and live theatres across the United States, Australia, and New Zealand, resulting in an immediate interruption of cinema revenues and heightened consumer caution towards public entertainment venues.
After the start of the pandemic, we were able to negotiate occupancy relief with our cinema landlords.
Unfortunately, the recovery from the pandemic was then interrupted by the screen actors and writers strikes of 2023, which materially impacted the movie release schedule.
REMOVED
As of March 28, 2025, there were 20,603,203 shares of class A non-voting common stock, par value $0.01 per share and 1,680,590 shares of class B voting common stock, par value $0.01 per share, outstanding.
We group our businesses in two operating segments, which are owned and operated through various operating subsidiaries: Theatrical Motion Picture Exhibition ( Cinema Exhibition ), through as of the date of this 2024 Annual Report, our 60 cinemas.
Real Estate , including real estate development and the rental or licensing of retail, commercial and live theatre assets comprised, as of the date of this 2024 Annual Report, of approximately 9,700,000 square feet of land and approximately 670,000 square feet of net rentable area.
Impacts on our Business due to the 2023 Hollywood strikes, the dramatic Interest Rate Rise and Increased Operating Costs, together with our Company s Responses Since the COVID-19 pandemic began in March 2020, our business has faced a variety of headwinds.
Fortunately, however, recently released movies, such as Inside Out 2 , Deadpool Wolverine, Sonic the Hedgehog, Mufasa: The Lion King and Moana 2 and, and what we believe to be a strong slate of film through the end of 2025, as well as the renewed recognition by the motion picture industry of the importance of a theatrical release window, make us optimistic for the future of the cinema business.
Accordingly, we are continuing to support our investment in the beyond the home entertainment industry, to maintain our key cinemas and live theatres, to improve the amenities offered, and to protect those of our real estate assets which we believe offer the most substantial potential for preserving and building stockholder value.
The COVID-19 pandemic, while largely behind us now, had a significant impact on both the global economy and the cinema industry, affecting our operations and depleting our liquidity.
In March 2020, government regulations mandated the temporary closure of our cinemas and live theaters across the United States, Australia, and New Zealand.
This led to an immediate loss of cinema revenue and income, compounded by a shift in consumer behavior as people became more hesitant to engage in public entertainment.
While recovering from the aftermath of the COVID-19, in 2023, our cinema operations faced unexpected disruptions and impacts due to the strikes by the Writers Guild of America (WGA) and the Screen Actors Guild-American Federation of Television and Radio Artists (SAG-AFTRA), stemming from labor disputes with the Alliance of Motion Picture and Television Producers (AMPTP), known as the 2023 Hollywood strikes.