Regal Cinemas, 2nd largest chain in US, to reopen in April

Regal Cinemas, the second largest movie theater chain in the U.S., will reopen beginning April 2, its parent company, Cineworld Group, announced Tuesday.

Regal had been one most notable holdouts of in the gradual reopening of cinemas nationwide. For nearly half a year, its 7,211 screens and 549 theatres in the U.S. have been dark. Doors will open early next month with attendance limited to 25% to 50% capacity in about 500 locations.

Cineworld also agreed to a new multi-year deal with Warner Bros. Beginning next year, the studio’s releases will have a 45-day exclusive window at Regal cinemas, roughly slicing in half the traditional period. That doesn’t apply to Warner releases this year, which are streaming simultaneously on HBO Max when they open in theaters.

“We are very happy for the agreement with Warner Bros.” said Mooky Greidinger, chief executive of Cineworld. “This agreement shows the studio’s commitment to the theatrical business and we see this agreement as an important milestone in our 100-year relationship with Warner Bros.”

Regal’s April 2 reopening coincides with the release of Warner Bros.’ “Godzilla vs. Kong.”

The agreement is the latest in a reordering of the theatrical marketplace — a sea change accelerated by the pandemic but viewed as long-in-coming by some analysts given the rise in streaming services.

Universal Pictures last November agreed to deals with AMC and Cinemark — the first- and third-largest chains — to shrink the theatrical window to 17 days, or three weekends. Greidinger at the time said the company didn’t see “any business sense” in that model.