Saudi Arabia's first cinema to open on April 18

Agencies
April 5, 2018

Riyadh, Apr 5: Saudi Arabia's first cinema in over three decades will open on April 18 in Riyadh, authorities said Wednesday, after a ban was lifted last year as part of a far-reaching liberalisation drive.

AMC Entertainment has been granted the first licence to operate cinemas, with Saudi state media saying the US giant is expected to open 40 cinemas across 15 Saudi cities over the next five years.

"AMC plans to open the Kingdom's first cinema theatre in Riyadh on April 18," the information ministry's Centre for International Communication said in a statement.

The news comes after AMC Entertainment signed a non-binding agreement in December with Saudi Arabia's vast Public Investment Fund to build and operate cinemas across the Kingdom.

"The granting of the first licence marks the opening of very significant opportunities for exhibitors," Information Minister Awwad Alawwad was quoted as saying in the statement.

"The Saudi market is very large, with the majority of the population... eager to watch their favourite films here at home."

International theatre chains have long eyed the kingdom as the Middle East's last untapped mass market of more than 30 million people, the majority of whom are under 25.

The move to reopen cinemas is part of a modernisation drive by Crown Prince Mohammed bin Salman, who is seeking to balance unpopular subsidy cuts in an era of low oil prices with more entertainment options - despite opposition from religious hardliners.

The Kingdom has embarked on a wide-ranging programme of social reforms that includes boosting sports and entertainment and allowing women to drive from June.

In February, Saudi Arabia's General Entertainment Authority (GEA) announced it will stage more than 5,000 festivals and concerts in 2018, double the number of last year, and pump $64 billion in the sector in the coming decade.

The reform stems partly from an economic motive to boost domestic spending on entertainment as the kingdom reels from an oil slump since 2014.

Comments

shaji
 - 
Thursday, 5 Apr 2018

Congratulations to saudi nationals especially to female members who are very eager to pass their time in watching movies and other entertainments.  They used to go to Bahrain, DubaI ETC. for entertainment and now there is no need to go to other countries.   I hope more liberty will be given to Saudi Nationals to enjoy their life like in Dubai/Bahrain/Kuwait etc.

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News Network
April 6,2020

New Delhi, April 6: Acknowledging on being scared and talking of not seeing his family for three weeks, actor Salman Khan along with nephew Nirvaan on Sunday shared their lockdown experience in a video message.

The 54-year-old star, without disclosing where the actor actually is, shared a video message on Twitter along with his brother Sohail Khan's son, Nirvaan.

Salman began the one-minute and 26-seconds long video, by saying: "We came here for a few days and now we're stuck and scared"

The 'Bharat' actor then introduced Nirvaan and asked him "How long has it been since you saw your father?", to which Nirvaan replied, "It must have been three weeks."

"I have not seen my father for three weeks. We are here and he is alone at home," Salman added.

The 'Sultan' actor then asks the boy: "You remember the film dialogue, 'the one who got scared, died.' It does not apply here in this situation. We are scared and bravely we admit that we are scared. Please don't be brave in this situation."

Nirvaan also further requested everybody to stay safe and maintain social-distance.

"I think it's better for everyone to stay home, avoid contact and I think the longer we stay indoors the faster this ends," he added.

The 'Bajrangi Bhaijaan' star concluded the video by saying: "The one who got afraid saved himself and lives of others around him. Moral of the story, 'We're all scared'."

Urging people to take the government's advisory of self-isolation seriously amid the rising cases of coronavirus in the country, the megastar had earlier shared a video message for fans. 

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Agencies
May 17,2020

Abu Dhabi, May 17: Another 731 people have tested positive for coronavirus in the UAE, pushing the total number of COVID-19 infections to 23,358, the Ministry of Health and Prevention announced on Sunday.

Six more deaths from the novel coronavirus have been also confirmed, taking the country’s death toll to 220.

The ministry also announced the full recovery of 581 new cases after receiving the necessary treatment, taking that number up to 8,512 of total recovered patients.

New tests conducted

The latest coronavirus patients, all of whom are in a stable condition and receiving the necessary care, were identified after conducting more than 40,000 additional COVID-19 tests among UAE citizens and residents over the past few days, the ministry said.

It expressed its sincere condolences to the families of the deceased and wished a speedy recovery to all patients, calling on the public to cooperate with health authorities and comply with all precautionary measures, particularly social distancing protocols, to ensure the safety and protection of the public.

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News Network
February 26,2020

New York, Feb 26: Disney CEO Bob Iger, who steered the company’s absorption of Star Wars, Pixar, Marvel and Fox’s entertainment businesses and the launch of a Netflix challenger, is stepping down immediately, the company said in a surprise announcement Tuesday.

The Walt Disney Co. named as his replacement Bob Chapek, most recently chairman of Disney’s parks, experiences and products business.

“Did not see this coming -- Wowza,” tweeted LightShed media analyst Rich Greenfield.

Iger will remain executive chairman through the end of his contract on Dec. 31, 2021. Besides leading the board, Iger said he will spend more time on Disney’s creative endeavors, including the ESPN sports network, the newly acquired Fox studios and the Hulu and Disney Plus streaming services. He said he could not do that while running Disney on a day-to-day basis.

“It was not accelerated for any particular reason other than I felt the need was now to make this change,” Iger said on a conference call with reporters and analysts.

Iger steered Disney through the successful purchases of Lucasfilms, Marvel, Pixar and other brands that became big moneymakers for Disney. Last year, the top five movies in U.S. and Canada theaters were all Disney movies, including two from Marvel and one from Pixar. With the Dec. 20 release of the latest “Star Wars” movie, Disney had seven movies that each sold at least $1 billion in tickets worldwide last year.

Iger’s most recent coup was orchestrating a $71 billion purchase of Fox’s entertainment business in March and launching the Disney Plus streaming service in November. That service got nearly 29 million paid subscribers in less than three months. In a statement, Iger said it was the “optimal time” for a transition.

Pivotal Research Group analyst Jeffrey Wlodarczak said Iger had implied he would stay until his contract ended in 2021.

“On the other hand, they just successfully closed the Fox deal and had an unquestionably successful launch of Disney Plus so maybe he felt earlier was better to hand off the reins,” he said.

Colin Gillis, director of research at Chatham Road Partners, said the choice of Chapek seems solid because his parks division has had success.

Chapek said that while he has not led television networks or streaming services, his background in consumer-oriented businesses should help. Chapek and Iger both stressed that Disney would continue on the direction it had already been taking.

Disney is facing challenges to its traditional media business as cord-cutting picks up, meaning less fees from cable and satellite companies to carry Disney networks such as ABC, ESPN and Freeform. Disney’s own streaming services require the company to forgo money in licensing revenue, although the company is betting that money from subscriptions will eventually make up for that.

In the short term, Disney parks in Hong Kong and Shanghai, China, remain closed because of the coronavirus outbreak. In a CNBC interview, Chapek said the outbreak may be a “bump in the road,” but he said the company could weather it given “affinity for the brand.”

Iger told CNBC he had no plans to stay with Disney beyond next year.

Iger’s appointment as CEO in 2005 had been accompanied by controversy and protest from dissident shareholders Roy E. Disney and Stanley Gold. But he has come to be seen as a golden-boy top executive, and even someone who could run for president.

Iger told Vogue in 2018 that he had started seriously exploring a run for president because he is “horrified at the state of politics in America today,” but the Fox deal stopped his plans. Oprah Winfrey told Vogue that she “really, really pushed him to run.”

Iger, a former weatherman, joined ABC in 1974, 22 years before Disney bought the network.

At ABC, Iger developed such successful programs as “Home Improvement,” “The Drew Carey Show,” and “America’s Funniest Home Videos” and was instrumental in launching the quiz show “Who Wants to Be a Millionaire.” He was also criticized for cancelling well-regarded but expensive shows such as “Twin Peaks” and “thirtysomething.”

Since Iger became CEO, Disney’s stock price has risen fivefold. Its stock fell more than 2% in extended trading following the announcement, on top of a broader market selloff on virus fears during regular trading.

Iger, 69, was the second-highest paid CEO in 2018, as calculated by The Associated Press and Equilar, an executive data firm. He earned $65.6 million. The top earner was Discovery’s David Zaslav who earned $129.5 million.

Susan Arnold, the independent lead director of the Disney board, said succession planning had been ongoing for several years.

Chapek, 60, is only the seventh CEO in Disney history. Chapek was head of the parks, experiences and products division since it was created in 2018. He was previously head of parks and resorts and before that president of consumer products.

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