Leisure & entertainment news

Madison Square Garden Entertainment Corp. (NYSE: MSGE) said on Friday that it will acquire MSG Networks Inc (NYSE: MSGN). The two companies have signed a stock deal that values the sports media company at roughly £668 million. MSG Networks shares slid more than 0.5% in premarket trading on…

Cineworld Group plc (LON: CINE) said on Thursday that it swung to a £2.19 billion loss in 2020 as the Coronavirus pandemic pushed its theatres into temporarily shutting down. The company also expressed plans of increasing its debt ceiling, for which it intends to seek approval from its shareholders…

Blackstone Group Inc (NYSE: BX) expressed plans of buying Australia’s largest gaming and entertainment group, Crown Resorts Ltd (ASX: CWN), on Monday for £4.47 billion.   Blackstone remained almost flat on average in premarket trading on Monday. The stock is currently trading at a per-share price of £52.22…

AMC Entertainment Holdings Inc (NYSE: AMC) said over the weekend that it plans on reopening its California-based theatres for the public, after months of shut down (on and off) due to the ongoing Coronavirus pandemic that has so far infected more than 30 million people in the United States…

Movie theater chain AMC Entertainment Holdings Inc (NYSE: AMC) financially benefited to the tune of hundreds of millions of dollars, thanks to the proliferation of the #SaveAMC hashtag, The Wall Street Journal reported. AMC’s early-day troubles AMC realized in January 2020 it will likely face a crisis that…

Shares of AMC Networks Inc. (NASDAQ: AMCX) gained around 30% on Friday after the entertainment company reported fourth quarter and full-year results. Better than expected Q4 report AMC Networks, not to be confused with the movie theater chain AMC Entertainment Holdings Inc (NYSE: AMC), said it earned $2.72…

DraftKings Inc. (NASDAQ: DKNG) said on Friday that its revenue in the fiscal fourth quarter came in better than last year on the back of an increase in the number of monthly unique players. The company, however, still reported a wider than expected loss in Q4. DraftKings shares were…

In a tweet on Thursday, Citron Research said that GameStop Corp. (NYSE: GME) should consider buying Esports Entertainment Group Inc (NASDAQ: GMBL). As per the short-seller, acquiring the online gambling firm will help introduce GameStop to millions of new customers and bolster its financial footing. Esports Entertainment opened…

Take-Two Interactive Software Inc. (NASDAQ: TTWO) reported its financial results for the fiscal third quarter on Monday that topped analysts’ estimates for earnings and revenue. The company also gave upbeat guidance for the full year on Monday. As per CEO Strauss Zelnick: “Due to an incredibly strong holiday…

GameStop Corp (NYSE: GME) shares on Monday remained volatile in premarket trading as the Reddit-fuelled retail trading frenzy continued. The Grapevine-based company was reported about 18% up before market open on Monday but lost close to 7% later on. The stock gained roughly 1800% in January. The frenetic trading…

In an announcement on Monday, Siemens Healthineers AG (ETR: SHL) said that its net profit in the fiscal first quarter posted a 44% annualised growth to £384.80 million. The company said that its rapid antigen tests saw robust demand in recent months as the new variant of the Coronavirus…

GameStop’s (NYSE: GME) over 2000% rally has been the talk of the market in the past couple of weeks. Barclays on Friday, however, said that the short squeeze is unlikely to hold broader consequences for the market. According to Barclays: “The ongoing short squeeze in a few stocks…

GameStop Corp (NYSE: GME) shares continued the bull run on Wednesday as a list of high-profile short-sellers announced to have pulled out of their positions. The stock closed at around £255 per share that translates to a roughly 135% intraday gain on Wednesday. At the time of writing, the…

AMC Entertainment Holdings Inc. (NYSE: AMC) said on Monday that it boosted its finances by £671 million that helped cushion the economic blow from the ongoing Coronavirus pandemic that has so far infected more than 25 million people in the United States and caused over 430 thousand deaths. Chief…

The struggling movie and cinema industry was dealt yet another blow as some of Hollywood’s most anticipated cinema releases for the first quarter of 2021 will be delayed, The Wall Street Journal reported. A struggling industry Liam Neeson’s “The Marksman” ranked as the top-grossing film in the U.S.

In a report on Sunday, the Wall Street Journal said that MGM Resorts International (NYSE: MGM) plans on buying Entain plc. The agreement with the British gaming company, the report added, will help the casino operator expand its footprint in the online gambling business. MGM Resorts is currently exchanging…

The leisure and entertainment segment emerged as a beneficiary of the COVID-19 pandemic as people were forced to shelter at home. The video game industry, in particular, benefited from this phenomenon and a Morgan Stanley note suggested that the pandemic “pulled forward around four years of video game user…

In an announcement on Monday, Electronic Arts Inc. (NASDAQ: EA) said it will buy, Codemasters (LON: CDM), for £900 million. The British video game developer had previously struck an agreement with Take-Two Interactive Software – a bid that EA successfully trumped on Monday. At £102 per share, Electronic…

In an announcement on Wednesday, the Walt Disney Company (NYSE: DIS) said it will slash its workforce by 32 thousand jobs as the ongoing COVID-19 crisis continues to wreak havoc on its business. The company said the lay off will primarily affect workers at its theme parks where foot…

The Walt Disney Company (NYSE: DIS) reported a sharp increase in subscribers for its streaming service in the fiscal fourth quarter. Disney also said that its revenue was better than expected in Q4. But officials said on Thursday that Disneyland was likely to remain closed for the public…

Streaming video giant Netflix Inc (NASDAQ: NFLX) announced on Thursday it will raise prices for U.S. customers and investors cheered the announcement.  Price increase details Netflix’s standard subscription plan increases by $1 a month to $14 and its premium subscription plan goes up by $2 to $18 a month.

Comcast Corp. (NASDAQ: CMCSA) said on Thursday that its revenue from all three business segments came in higher than expected in the fiscal third quarter. The American telecommunications conglomerate had also topped Wall Street estimates in the prior quarter (Q2). Cable communications and high-speed internet, Comcast said, added…