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Hollywood's Debt Dilemma: "You Are Sitting on All This Cash, What Do You Do With It?"
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hollywoodreporter.com
hollywoodreporter.comShuttered cinemas, closed theme parks, lower advertising spending — one year ago, the realization sank in across Hollywood that the pandemic would cause a hit to earnings and cash flow for an unknown duration.
At the time, entertainment giants pivoted to raise capital and started preserving cash by freezing stock buybacks or dividends, and drawing up plans for cost cuts and layoffs.
As ratings agencies handed out downgrades, debt burdens and cash war chests moved into Wall Street’s focus. Now, in the wake of those decisions, the industry’s balance sheets are showing higher debt-to-earnings ratios.
But that may not be worrying executives. Wall Street observers say most entertainment giants are in solid financial positions despite higher debt.
Read more on hollywoodreporter.com
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