By Dade Hayes Finance Editor WarnerMedia is “rethinking the theatrical model” in light of COVID-19, AT&T COO John Stankey said on the telecom and media giant’s first-quarter earnings call.
Stankey didn’t elaborate much on that sentiment, and neither did the executive offer any overtures of condolence to theater owners.
Even though top exhibition circuits like AMC and Cinemark are hoping to reopen by the beginning of July — with Cinemark CEO Mark Zoradi last week citing Warner Bros.’ Tenet as a key comeback title — Stankey said he is not overly optimistic. “Don’t expect that’s going to be a snap-back” recovery, he said. “I think that’s going to be something that we’re going to have to watch the formation of consumer confidence, not just
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