Nov 26, 2025 7:32 AM Eastern Standard Time Thunderbird Entertainment Group Reports Fiscal 2026 First Quarter Results "With roughly three-quarters of our expected production revenue already greenlit and in motion, we have strong visibility into the year ahead,†said Jennifer Twiner McCarron, Chief Executive Officer and Chair of Thunderbird. "Our teams are managing 26 programs in various stages of production, up from 25 last quarter. While our quarterly results reflect timing shifts in greenlit productions, we ...

Nov 24, 2025 1:44 PM Eastern Standard Time Wicked: For Good Delivers Magical Weekend at Marcus Theatres Share Fans are obsessulated with the conclusion to the beloved musical, delivering the circuit's largest opening ever for a Broadway adaptation and the second highest opening weekend so far in 2025 MILWAUKEE--(BUSINESS WIRE)--Marcus Theatres, the nation's fourth largest theatre circuit and a division of Marcus Corporation (NYSE: MCS), today announced Wicked: For Good delivered the circuit's largest ever o ...

Financial Performance - The Walt Disney Company reported Q4 revenues of $22.5 billion, comparable to Q4 fiscal 2024, and a full year revenue increase of 3% to $94.4 billion from $91.4 billion [4][10] - Income before income taxes for Q4 increased to $2.0 billion from $0.9 billion in Q4 fiscal 2024, and for the year, it rose to $12.0 billion from $7.6 billion [4][10] - Diluted EPS for Q4 increased to $0.73 from $0.25 in Q4 fiscal 2024, while adjusted EPS decreased 3% for Q4 to $1.11 from $1.14 [4][10] Segment Performance - Total segment operating income decreased 5% for Q4 to $3.5 billion from $3.7 billion in Q4 fiscal 2024, but increased 12% for the year to $17.6 billion from $15.6 billion [4][10] - The Entertainment segment saw a full year operating income increase of 19% to $4.7 billion, but Q4 operating income decreased by $376 million to $691 million [4][10] - Direct-to-Consumer revenue increased 8% in Q4, with operating income rising by $99 million to $352 million [4][10] Subscriber Metrics - At the end of Q4, Disney+ and Hulu subscriptions reached 196 million, an increase of 12.4 million from Q3 fiscal 2025, with Disney+ subscribers increasing by 3.8 million [4][10] - Domestic Disney+ average monthly revenue per paid subscriber remained stable at $8.09, while international revenue per subscriber increased from $7.67 to $8.00 [21][22] Cash Flow and Investments - Cash provided by operations increased to $18.1 billion from $14.0 billion, with free cash flow rising to $10.1 billion from $8.6 billion [40][41] - Capital expenditures increased to $8.0 billion from $5.4 billion, driven by higher spending on cruise ship fleet expansion and new theme park attractions [43] Future Guidance - For fiscal year 2026, the company anticipates double-digit percentage segment operating income growth compared to fiscal 2025, with adjusted EPS also expected to grow by double digits [6][8] - The Board declared a cash dividend of $1.50 per share, payable in two installments [6][8]

Core Points - Marcus Corporation will participate in the Wells Fargo 9 Annual TMT Summit on November 18, 2025, with CEO Gregory S. Marcus and CFO Chad M. Paris attending [1][2] - The conference will include one-on-one meetings, company presentations, and discussions focused on technology, media, and telecommunications sectors [2] Company Overview - Marcus Corporation, headquartered in Milwaukee, is a leader in the lodging and entertainment industries, owning significant real estate assets [3] - The theatre division, Marcus Theatres, is the fourth largest in the U.S., operating 985 screens across 78 locations in 17 states under various brands [3] - The lodging division, Marcus Hotels & Resorts, manages 16 hotels and resorts in eight states [3] Recent Developments - Marcus Corporation celebrated its 90th anniversary on November 1, 2025, with a proclamation from Wisconsin's Governor Tony Evers recognizing "Marcus Corporation Day" [5] - The company declared a quarterly cash dividend of $0.08 per share, payable on December 15, 2025, to shareholders of record on November 25, 2025 [6] - David J. Marcus has been elected to the Board of Directors, bringing experience from his role as CEO of Marcus Investments LLC [7]

Core Points - IMAX Corporation will participate in the 9th Annual Wells Fargo TMT Summit on November 18, featuring a fireside chat with CFO Natasha Fernandes [1] - A live webcast of the fireside chat will be available on the IMAX investor relations website [2] Company Overview - IMAX is an innovator in entertainment technology, utilizing proprietary software, architecture, and equipment to enhance cinematic experiences [3] - As of September 30, 2025, IMAX operates 1,829 systems across 89 countries, including 1,759 commercial multiplexes and 60 institutional locations [4]

Core Viewpoint - IMAX Corporation has priced a private offering of $220 million in convertible senior notes, which are set to mature in 2030, with an interest rate of 0.75% per annum [1][2]. Summary by Sections Offering Details - The offering consists of $220 million aggregate principal amount of 0.75% convertible senior notes due 2030, with a settlement date scheduled for November 6, 2025 [1]. - An additional option for initial purchasers allows for the purchase of up to $30 million in principal amount of notes within 13 days of the initial issuance [1]. Interest and Conversion Terms - The notes will accrue interest at 0.75% per annum, payable semi-annually starting May 15, 2026, and maturing on November 15, 2030 [2]. - Noteholders can convert their notes under specific conditions before August 15, 2030, and at any time thereafter until the maturity date [2]. - The initial conversion rate is set at 23.5743 common shares per $1,000 principal amount, equating to an initial conversion price of approximately $42.42 per share, representing a 30% premium over the last reported sale price of $32.63 on November 3, 2025 [2]. Redemption and Repurchase Rights - The notes are redeemable at IMAX's option starting November 20, 2028, if the last reported sale price exceeds 130% of the conversion price for a specified period [3]. - In the event of a "fundamental change," noteholders may require IMAX to repurchase their notes for cash at the principal amount plus accrued interest [4]. Use of Proceeds - IMAX estimates net proceeds from the offering to be approximately $212 million, or $241.1 million if the additional notes option is fully exercised [5]. - The proceeds will be used to fund the refinancing of outstanding 2026 notes, capped call transactions, and for general corporate purposes [6][7]. Capped Call Transactions - IMAX has entered into capped call transactions to mitigate share dilution, with an initial cap price of $57.1025 per share, representing a 75% premium over the last reported sale price [13][14]. - These transactions are designed to offset potential cash payments required upon conversion of the notes [14]. Market Activity Implications - The unwinding of existing capped call transactions may lead to significant market activity, potentially affecting the market price of IMAX's common shares and the notes [10][11][15][16]. Company Overview - IMAX Corporation is a leader in entertainment technology, operating 1,829 IMAX systems across 89 countries as of September 30, 2025 [18][19].

Core Insights - The Marcus Corporation reported a 9.7% decrease in total revenues for the third quarter of fiscal 2025, amounting to $210.2 million compared to $232.7 million in the same period last year [8][10] - The company experienced a significant decline in operating income, which fell by 30.7% to $22.7 million from $32.8 million year-over-year [8][10] - Net earnings decreased to $16.2 million, down from $23.3 million in the prior year, with earnings per diluted share at $0.52 compared to $0.73 [8][10] Marcus Theatres Performance - Total theatre revenues for the third quarter were $119.9 million, reflecting a 16.6% decrease from the previous year [5][30] - Same store admission revenues decreased by 15.8%, with attendance down 18.7% due to a less favorable film mix [6][30] - Adjusted EBITDA for the theatre division was $22.1 million, a 33.4% decrease from the prior year [5][30] Marcus Hotels & Resorts Performance - Total revenues for Marcus Hotels & Resorts increased by 1.7% to $80.3 million, driven by growth in food and beverage revenues [10][11] - Division operating income decreased by $0.7 million to $16.4 million, impacted by increased depreciation expenses [10][11] - Adjusted EBITDA for the hotels and resorts segment was $23.1 million, a slight increase of 0.3% compared to the previous year [10][11] Share Repurchase and Capital Return - The company repurchased 0.6 million shares for $9 million during the third quarter, with a total of over $25 million returned to shareholders in the past four quarters [2][14] - The Board of Directors authorized the repurchase of up to 4.0 million additional shares, increasing the total available for repurchase to 4.7 million shares [15][16] Future Outlook - The company anticipates a stronger film slate for the remainder of the year, with several highly anticipated releases expected to drive box office performance [9][10] - The hotel segment is expected to benefit from stable leisure travel demand and strong group business, particularly at newly renovated properties [12][10]

Core Insights - Sphere Entertainment Co. will host a conference call on November 4, 2025, to discuss its third-quarter results for the period ending September 30, 2025 [1] - The company has achieved significant ticket sales for "The Wizard of Oz at Sphere," surpassing 1 million tickets sold and generating over $130 million in ticket sales as of October 17, 2025 [5] - Sphere Entertainment Co. has repurchased an additional $22.5 million of its Class A common stock, totaling 1,054,247 shares repurchased to date [7] Company Overview - Sphere Entertainment Co. is a leading live entertainment and media company, featuring the Sphere venue, which opened in Las Vegas in September 2023, utilizing advanced technologies to enhance entertainment experiences [3] - The company operates MSG Networks, which includes two regional sports and entertainment networks and a streaming product, MSG+, providing a variety of live sports and programming [3] Financial Activities - The company repurchased 425,219 shares of SPHR Class A common stock at an average price of $52.91 per share from September 3 to September 11, 2025, funded by cash on hand [7]

Core Insights - 1888 Studios has signed a landmark minimum 10-year lease agreement with Paramount, establishing a major production hub in New Jersey, which is supported by enhanced film and television tax incentives [1][4][10] Company Overview - 1888 Studios is a state-of-the-art film and television production campus in Bayonne, NJ, covering 1.6 million square feet and designed to be the largest campus-style production facility in the Northeast and one of the largest in the nation [2][11] - The facility will include over 1.1 million square feet of production space, featuring 23 smart sound stages with a minimum of 40-foot clear ceilings, production support space, flexible post-production space, and various other facilities [2][12] Tax Incentives and Economic Impact - New Jersey's Film and Digital Media Tax Credit program provides competitive incentives for tenants, making the state an attractive destination for film and television production [3][7] - The program has been expanded and is fully funded through 2049, contributing to a surge in total production spending in New Jersey since its reinstatement in 2018 [7][8] Strategic Importance - Paramount's commitment to 1888 Studios reflects the growing momentum of New Jersey's creative sector and solidifies its reputation as a global powerhouse in the entertainment industry [4][10] - The project is expected to generate thousands of jobs and additional opportunities for local small businesses, contributing to economic growth in the region [4][6][10] Infrastructure and Facilities - 1888 Studios will feature advanced infrastructure, including a massive 22-acre water backlot, dedicated on-site industry vendors, and a five-story parking garage, designed to accommodate large-scale filmmaking technologies [12][11] - The campus aims to provide a dynamic environment for creators, enhancing cost-effectiveness and operational efficiencies [12][11]

Core Points - Cinemark Holdings, Inc. will report its third quarter 2025 operating results on November 5, 2025, at 8:30 a.m. Eastern Time, followed by a conference call [1] - The company is one of the largest theatrical exhibition companies globally, operating approximately 500 theaters across the U.S. and South America [3] Financial Reporting - The third quarter 2025 earnings will be discussed in a conference call accessible via live webcast [1] - A replay of the call will be available on Cinemark's Investor Relations website [1] Company Overview - Cinemark operates 304 theaters with 4,249 screens in the U.S. and 193 theaters with 1,398 screens in 13 South and Central American countries [3] - The company offers advanced sight and sound technology, including Barco laser projection and Cinemark XD, along with upscale amenities like Luxury Lounger recliners and D-BOX motion seats [3] - Cinemark emphasizes guest service and has award-winning loyalty programs such as Cinemark Movie Club [3]