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Friday, June 18, 2021

Box Office: New COVID Relief Bill Provides $15-B for Movie Theaters and Live Event Venues, ‘Wonder Woman 1984’ Underwhelms

#BoxOffice #Theaters #LiveEvent #entertainment #COVID #relief


The compromise bill also expands eligibility for the Paycheck Protection Program to include some local TV and radio stations.

Republican and Democratic leaders in the House and Senate announced Sunday a compromise COVID aid/relief/stimulus bill, which if passed and signed by President Trump will provide financial support to a number of companies in the entertainment space.

The bill includes $15-B earmarked specifically for live event venues, independent movie theaters and cultural institutions, all businesses hit hard by the virus chaos.

It also expands the eligibility of the Paycheck Protection Program to include local TV and radio broadcasters, as well as newspapers.

The $900-B bill also provides direct payments of $600/person to American families, as well as some support for local municipalities and money for vaccine distribution, and other things.

The bill is still being written, but a vote is expected on Monday. It still needs to pass both the House and Senate, and be signed into law by President Trump, which he has indicated he will sign into law.

It is unclear what movie theaters would qualify as “independent,” and what TV stations would be eligible for PPP. Those details will be released in the final text of the bill.

The deal does not include liability protections for businesses.

At the movies

Wonder Woman 1984 opened to just $18.8-M in China, behind expectations and a less-than-wondrous start for WarnerMedia (NYSE:T) as it embarks on a bold plan to release its films both in theaters and on HBO Max.

The Warner Bros./DC superhero pic placed #2 behind The Rescue, a new Chinese film that debuted to an estimated $35-M.

In total, Wonder Woman 1984 opened to $38.5-M overseas as it began rolling out in 32 territories a week ahead of its 25 December  debut on HBO Max and in those cinemas that are still open amid the ongoing virus chaos. That included $5-M from Imax (NYSE:IMAX) theaters.

Have a healthy week, Keep the Faith!

Paul Ebeling
Paul A. Ebeling, a polymath, excels, in diverse fields of knowledge Including Pattern Recognition Analysis in Equities, Commodities and Foreign Exchange, and he is the author of "The Red Roadmaster's Technical Report on the US Major Market Indices, a highly regarded, weekly financial market commentary. He is a philosopher, issuing insights on a wide range of subjects to over a million cohorts. An international audience of opinion makers, business leaders, and global organizations recognize Ebeling as an expert.   

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