Cablevision’s sale of its movie theaters “would eliminate...
Cablevision’s sale of its movie theaters “would eliminate a business which Moody’s estimates consumes cash” and improve the cable operator’s “liquidity profile with no meaningful impact on the remaining operations,” the ratings firm said Tuesday. “Since Clearview Cinemas do not…
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have digital projectors,” the operator would have to “invest heavily to upgrade the equipment” to stay competitive, Moody’s said: Instead, Cablevision can “direct more cash to its core cable operations.” Bow Tie Cinemas, which is buying the 41 venues (CD April 30 p13), plans what it called a “substantial investment” on digital projection, 3D and other initiatives.