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Judge Nixes AMC Entertainment’s Shareholder Settlement – Deadline

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function gtag() {dataLayer.push(arguments);} gtag('js', new Date()); gtag( 'config', 'G-487Y5JM3D8', { 'send_page_view': false } ); </script> <meta name="robots" content="max-image-preview:large"><link rel="alternate" type="application/rss+xml" title="Deadline Feed" href="https://web.archive.org/web/20230722034239/https://deadline.com/feed/rss/"/><link rel="alternate" type="application/rss+xml" title="Deadline » Breaking News Feed" href="https://web.archive.org/web/20230722034239/https://deadline.com/category/breaking-news/feed/"/><link rel="alternate" type="application/rss+xml" title="Deadline » Exhibition Feed" href="https://web.archive.org/web/20230722034239/https://deadline.com/category/exhibition/feed/"/><link rel="alternate" type="application/rss+xml" title="Deadline » Legal Feed" href="https://web.archive.org/web/20230722034239/https://deadline.com/category/legal/feed/"/> <!-- Swiftype Meta Tags Start --> <meta class="swiftype" name="content_type" data-type="string" content="Article"/> <meta class="swiftype" name="post_id" data-type="integer" content="1235445519"/> <meta class="swiftype" name="title" data-type="string" content="Judge Nixes AMC Entertainment Shareholder Settlement"/> <meta class="swiftype" name="author" data-type="string" content="Jill Goldsmith"/> <meta class="swiftype" name="published_at" data-type="date" content="2023-07-21 18:20:16"/> <meta class="swiftype" name="image" data-type="enum" content="https://deadline.com/wp-content/uploads/2020/08/amc-theatres.jpg?w=296&amp;h=166&amp;crop=1"/> <meta class="swiftype" name="comment_count" data-type="integer" content="0"/> <meta class="swiftype" name="tags" data-type="string" content="Actors Strike"/> <meta class="swiftype" name="tags" data-type="string" content="AMC Entertainment"/> <meta class="swiftype" name="tags" data-type="string" content="APE units"/> <meta class="swiftype" name="tags" data-type="string" content="SAG-AFTRA"/> <meta class="swiftype" name="tags" data-type="string" content="settlement"/> <meta class="swiftype" name="tags" data-type="string" content="shareholder lawsuit"/> <meta class="swiftype" name="topics" data-type="string" content="Box Office"/> <meta class="swiftype" name="topics" data-type="string" content="Business"/> <meta class="swiftype" name="topics" data-type="string" content="Film"/> <meta class="swiftype" name="body" data-type="text" content="In a contorted legal case, a Delaware judge today struck down a settlement that would have helped AMC Entertainment move ahead with steps to raise cash and shore up its stock. “To cut to the chase, the settlement cannot be approved as submitted,” Judge Morgan Zurn of Delaware Chancery Court wrote in a 69-page opinion released today. Her ruling followed several days of hearings earlier this summer in a suit initially brought by a group of AMC investors who challenged the company's plans to convert preferred equity into common stock. The exhibitor and the shareholders subsequently reached a settlement in the case but that required the judge's approval. Long and short: If AMC has to raise cash in a pinch, it will need to sell AMC Preferred Equity units, or APEs, which are worth much less than its common stock. The APEs fell 14% to $1.54 in late trading today. AMC common shares surged 63% to $7.17 after what could, however, become a problematic ruling for the chain. AMC avoided bankruptcy during and after Covid as retail investors piled into the stock with gusto. And the box office has made major strides, including this great looking weekend. CEO Adam Aron told Deadline in April that he viewed today's ruling as &quot;the icing on the cake&quot; of a turnaround. “I will be more confident after this, after we have the ability to implement the shareholder vote,” he added. “When you have the flexibility to raise capital if you need to, it’s really important. Whether we will need to or not depends on what … the box office is this year,&quot; Aron told Deadline then. Now, there’s added risk that an actors’ strike could pressure the release schedule as soon as the fourth quarter for big films that need the traction of press tours by name actors. If it goes into the fall and beyond, the 2024 box office will feel it. Zurn said parties to the case “cited AMC’s financial situation” as they “sought to present their settlement for approval on a compressed timeframe.” Aron created APEs as a workaround last summer after stockholders repeatedly balked at authorizing AMC to issue new shares, which would dilute their holdings. AMC did not require their authorization to issue APEs, so potentially a great idea. But the company waited at bit and the price of the APEs, which are traded on the NYSE, started to drop, falling below a dollar. So this year, AMC said 'never mind.' It proposed eliminating APEs by converting them into common shares, issuing new common shares, and a ten-for-one reverse stock split to boost the value of the volatile common stock. The plan was approved by a majority of shareholders at a special meeting. The judge today noted possible inequity in the vote due to different features of the APEs vs the common shares. Shareholders led by Allegheny County Employees’ Retirement System sued AMC in Chancery Court before the vote to block the proposal but then reached a settled with the theater chain soon after. Zurn said today the settlement failed to address the interests of both AMC common stockholders and APE holders, which are diametrically opposed. “Under Delaware law, the Court must review all class action settlements to ensure that (1) the representative plaintiffs negotiated a deal for the class that falls within a range of reasonable results that a disinterested person could accept, and (2) the representative plaintiffs satisfied the requirements of due process such that the settlement can bind absent class members to the deal the representative plaintiffs negcotiated,” she wrote in her opinion. The case included a comment period open to all AMC shareholders -- such a large group that Zurn needed to hire a Special Master to handle them. “AMC’s stockholder base is extraordinary. It includes a great number of human owners who care passionately about their stock ownership and the Company. Many of them are connected to each other online. When notice went out to AMC stockholders, the reaction was unprecedented. The Court received more than 3,500 communications from approximately 2,850 purported stockholders.” She said disparate treatment for the two classes of equity holders was not raised by any of them, she said. Issues raised included “theories about synthetic shares, Wall Street corruption, dark pool trading, insider trading, and RICO violations, and a request for a share count.” But “the Court’s role is limited to considering settlement specific issues.” It's not clear what happens next. An AMC didn't immediately respond to a request for comment."/> <!-- Swiftype Meta Tags End --> <script> /* eslint-disable */ /*! loadCSS. [c]2017 Filament Group, Inc. 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</div> <main class="a-stacking-context a-stack-1 pmc-u-background-white"> <section class="a-wrapper pmc-breaking-news a-glue-parent u-display-none"> <button class="dismiss-news-banner c-button c-button--plain a-glue pmc-u-color-white u-color-grey-medium-light:hover pmc-u-padding-a-050 pmc-u-background-black u-border-radius-50p"> <svg class="c-icon c-icon--full"> <use xlink:href="/web/20230722034239im_/https://deadline.com/2023/07/amc-entertainment-shareholder-settlement-theater-chain-actors-strike-sag-afra-1235445519/#close"/> </svg> <span class="a-screen-reader-only">Dismiss News Banner</span> </button> <div class="o-tease o-tease--flipped pmc-breaking-news u-flex u-justify-content-space-between pmc-u-background-brand-red pmc-breaking-news u-flex u-justify-content-space-between"> <div class="o-tease__primary pmc-u-padding-tb-1 pmc-u-padding-l-1 pmc-u-color-white"> <h2 id="" class="c-heading u-text-transform-uppercase pmc-u-margin-b-050 pmc-u-font-family-balto pmc-u-font-size-18@tablet pmc-u-font-size-12 pmc-u-font-weight-bold u-font-style-italic"> Breaking News </h2> <span id="" class="c-title "> <a href="https://web.archive.org/web/20230722034239/https://deadline.com/2023/07/actors-strike-studios-dispute-sag-aftra-contract-offer-claims-1235445314/" class="c-title__link a-unstyle-link pmc-u-font-size-28@tablet pmc-u-font-size-20"> AMPTP Disputes SAG-AFTRA’s “Misleading” Claims About Last Contract Offer Before Strike Began; Union Responds </a> </span> </div> <div class="o-tease__secondary u-max-width-190 u-width-100p u-hidden@desktop-max"> <a href="https://web.archive.org/web/20230722034239/https://deadline.com/2023/07/actors-strike-studios-dispute-sag-aftra-contract-offer-claims-1235445314/" class="c-figure__link " tabindex="-1"> <span class="a-screen-reader-only">Read the full story</span> <figure class="c-figure " style=""> <div class="pmc-u-crop-9x16"> <img class="c-figure__image u-display-none@mobile-max" src="/web/20230722034239im_/https://deadline.com/2023/07/amc-entertainment-shareholder-settlement-theater-chain-actors-strike-sag-afra-1235445519/" data-lazy-src="https://web.archive.org/web/20230722034239/https://deadline.com/wp-content/uploads/2023/07/actors-on-strike.jpg?w=380&amp;h=212&amp;crop=1" alt=""> </div> </figure> </a> </div> </div> </section> <!--todo: pageType-and-userState? --> <a name="pagetop"></a> <div id="eventListHolder" class="nodisplay"></div> <div id="post-1235445519" class="a-article-grid a-wrapper a-article-author-ruler post-1235445519 post type-post status-publish format-standard has-post-thumbnail hentry category-breaking-news category-exhibition category-legal tag-actors-strike tag-amc-entertainment tag-ape-units tag-sag-aftra-2 tag-settlement tag-shareholder-lawsuit vertical-box-office vertical-business vertical-film"> <header class="a-article-grid__header"> <nav class="o-nav breadcrumb o-nav--horizontal u-text-align-center@mobile-max pmc-u-padding-t-1 pmc-u-padding-t-050@mobile-max" data-dropdown=""> <ul class="o-nav__list u-justify-content-center@mobile-max" data-dropdown-list=""> <li class="o-nav__list-item u-text-transform-uppercase pmc-u-font-size-12 pmc-u-color-brand-red pmc-u-padding-r-050 " data-dropdown-list-item=""> <a class="c-nav-link " href="https://web.archive.org/web/20230722034239/https://deadline.com/"> Home </a> </li> <li class="o-nav__list-item u-text-transform-uppercase pmc-u-font-size-12 pmc-u-color-brand-red pmc-u-padding-r-050 " data-dropdown-list-item=""> <a class="c-nav-link a-icon-before a-icon-forward-slash" href="https://web.archive.org/web/20230722034239/https://deadline.com/v/box-office/"> Box Office </a> </li> <li class="o-nav__list-item u-text-transform-uppercase pmc-u-font-size-12 pmc-u-color-brand-red pmc-u-padding-r-050 " data-dropdown-list-item=""> <a class="c-nav-link a-icon-before a-icon-forward-slash" href="https://web.archive.org/web/20230722034239/https://deadline.com/category/breaking-news/"> Breaking News </a> </li> </ul> </nav> <h1 class="c-title pmc-u-font-size-20 pmc-u-font-size-38@tablet pmc-u-font-size-46@desktop-xl u-text-align-center@mobile-max u-letter-spacing-0025 pmc-u-line-height-normal u-line-height-45@tablet pmc-u-padding-t-1 pmc-u-padding-t-050@mobile-max">Judge Nixes AMC Entertainment Shareholder Settlement</h1> </header> <div class="a-article-grid__author "> <div class="u-display-inline-flex u-align-items-center"> <div class="author__byline"> <div class="u-flex u-align-items-center a-glue-parent js-Tooltip-parent"> <button data-author class="a-unstyle-button u-display-contents"> <p class="pmc-u-margin-tb-00 pmc-u-font-size-14"> By <a href="https://web.archive.org/web/20230722034239/https://deadline.com/author/jill-goldsmith/"><span>Jill Goldsmith</span></a> </p> <svg class="c-icon pmc-u-margin-l-025 pmc-u-color-brand-red u-hidden@desktop-max"> <use xlink:href="/web/20230722034239im_/https://deadline.com/2023/07/amc-entertainment-shareholder-settlement-theater-chain-actors-strike-sag-afra-1235445519/#byline-plus"/> </svg> <section class="author // a-glue a-glue--l-0 a-glue--t-100p u-hidden@desktop-max pmc-u-padding-a-1 u-box-shadow-light u-width-300 pmc-u-background-white u-text-align-left"> <h2 class="c-title pmc-u-font-size-20"><a href="https://web.archive.org/web/20230722034239/https://deadline.com/author/jill-goldsmith/"><span>Jill Goldsmith</span></a></h2> <!-- @TODO: This needs to be the author role, not the name - I didn't see that in the $more_info object --> <p class="c-tagline pmc-u-font-family-georgia u-font-style-italic">Co-Business Editor</p> <h4 class="c-title pmc-u-padding-t-050 pmc-u-padding-b-025"> More Stories By Jill </h4> <ul class="author__story-list // pmc-u-padding-l-1"> <li class="pmc-u-padding-b-1"> <a class="pmc-u-font-family-eksell pmc-u-color-grey-medium-dark" href="https://web.archive.org/web/20230722034239/https://deadline.com/2023/07/return-to-dust-arthouse-film-china-theater-camp-the-beanie-bubble-streetwise-afire-contempt-1235444895/">‘Return To Dust’, Arthouse Film Pulled From Release In China Last Year, Bows In U.S. – Specialty Preview</a> </li> <li class="pmc-u-padding-b-1"> <a class="pmc-u-font-family-eksell pmc-u-color-grey-medium-dark" href="https://web.archive.org/web/20230722034239/https://deadline.com/2023/07/twitter-elon-musk-linda-yaccarino-poop-emojisresponse-to-press-queries-1235444415/">Twitter Stops Emailing Poop Emojis In Response To Press Queries; Replaces It With New Message</a> </li> <li class="pmc-u-padding-b-1"> <a class="pmc-u-font-family-eksell pmc-u-color-grey-medium-dark" href="https://web.archive.org/web/20230722034239/https://deadline.com/2023/07/amc-entertainment-movie-theaters-variable-seat-pricing-sightline-pilot-test-1235443297/">AMC Entertainment Drops Controversial Variable Seat Pricing After Pilot Test</a> </li> </ul> <div class="u-flex pmc-u-margin-r-1"> <a class="u-margin-l-auto u-text-transform-uppercase pmc-u-font-weight-bold pmc-u-font-size-14" href="https://web.archive.org/web/20230722034239/https://deadline.com/author/jill-goldsmith/">View All</a> </div> </section> </button> </div> <time class="pmc-u-color-grey-medium-dark pmc-u-font-family-helvetica pmc-u-font-size-14">July 21, 2023 6:20pm</time> </div> </div> </div> <div class="a-article-grid__main pmc-a-grid pmc-a-cols3@desktop"> <article class="pmc-a-grid-item pmc-a-span2@desktop u-max-width-100p"> <figure class="c-figure u-border-b-1 u-border-color-grey-medium-light " data-toaster-activate-trigger> <div class="a-glue-parent pmc-u-crop-9x16"> <img width="681" height="383" src="https://web.archive.org/web/20230722034239im_/https://deadline.com/wp-content/uploads/2020/08/amc-theatres.jpg?w=681&amp;h=383&amp;crop=1" class="c-figure__image" alt="AMC Entertainment"/> </div> <figcaption class="c-figure__caption pmc-u-font-family-helvetica pmc-u-padding-tb-025 u-flex u-flex-direction-column"> <span class="pmc-u-font-weight-light pmc-u-font-size-12 pmc-u-color-grey-medium-dark">AP</span> </figcaption> </figure> <div class="a-content pmc-u-line-height-copy pmc-u-font-family-georgia pmc-u-font-size-16 pmc-u-font-size-18@desktop"> <div class="wp-remixd-voice-wrapper"><script type="text/javascript" id="remixd-audio-player-script" src="https://web.archive.org/web/20230722034239js_/https://tags.remixd.com/player/v5/index.js?cb=%%CACHEBUSTER%%" charset="utf-8" async></script></div><p class="paragraph larva // lrv-u-margin-lr-auto lrv-a-font-body-m "> In a contorted legal case, a Delaware judge today struck down a <a href="https://web.archive.org/web/20230722034239/https://deadline.com/tag/settlement/" id="auto-tag_settlement" data-tag="settlement">settlement</a> that would have helped <a href="https://web.archive.org/web/20230722034239/https://deadline.com/tag/amc-entertainment/" id="auto-tag_amc-entertainment" data-tag="amc-entertainment">AMC Entertainment</a> move ahead with steps to raise cash and shore up its stock.</p> <p class="paragraph larva // lrv-u-margin-lr-auto lrv-a-font-body-m "> &ldquo;To cut to the chase, the settlement cannot be approved as submitted,&rdquo; Judge Morgan Zurn of Delaware Chancery Court wrote in a 69-page opinion released today. Her ruling followed several days of hearings earlier this summer in a suit initially brought by a group of AMC investors who challenged the company&#8217;s plans to convert preferred equity into common stock. <a href="https://web.archive.org/web/20230722034239/https://deadline.com/2023/04/judge-rejects-settlement-of-amc-entertainment-shareholder-lawsuit-1235319264/">The exhibitor and the shareholders subsequently reached a settlement in the case but that required the judge&#8217;s approval</a>. <div class="admz " id="adm-inline-article-ad-1"> <div class="adma boomerang " data-device="Desktop" data-width="1"> <div style="min-width:50px;min-height:75px;" class="pmc-adm-boomerang-pub-div ad-text" data-priority="10"> <div id="gpt-dsk-tab-mid-article1-uid0" class=" adw-1 adh-1" data-is-adhesion-ad=""> <script type="application/javascript"> blogherads.adq.push(function () { blogherads .defineSlot( 'medrec', 'gpt-dsk-tab-mid-article1-uid0' ) .setTargeting( 'pos', ["mid-article1","mid","mid-articleX","mid-article","300x251"] ) .setSubAdUnitPath("ros\/mid-article") .addSize([[2,2],[300,250],[620,350],[300,251],[501,282],[3,3],[2,4],[4,2]]) ; }); </script> </div> </div> </div> </div> <div class="injected-related-story // u-margin-tb-250 u-margin-t-4@desktop-xl u-margin-b-3@desktop-xl"> <h3 id="title-of-a-story" class="c-title u-margin-b-025 u-border-t-4 u-padding-t u-border-color-brand-red"> Related Stories </h3> <div class="u-flex u-padding-tb-1 u-border-t-1 u-border-b-1 u-flex-direction-column@mobile-max u-border-color-grey-medium-light"> <article class="o-card u-flex u-flex-flex-grow-1 u-width-100p@mobile-max u-width-50p"> <a tabindex="0" href="https://web.archive.org/web/20230722034239/https://deadline.com/2023/07/actors-strike-waivers-explained-duncan-crabtree-ireland-sag-aftra-comic-con-1235445382/" class=""> <div class="c-lazy-image u-width-150 u-margin-t-1"> <div class="lrv-a-crop-3x2 a-crop-16x9 u-margin-t-n0" style=""> <img class="c-lazy-image__img lrv-u-background-color-grey-lightest lrv-u-width-100p lrv-u-display-block lrv-u-height-auto" src="https://web.archive.org/web/20230722034239im_/https://deadline.com/wp-content/themes/pmc-deadline-2019/assets/public/lazyload-fallback.jpg" data-lazy-src="https://web.archive.org/web/20230722034239/https://deadline.com/wp-content/uploads/2023/07/Duncan-Crabtree-Ireland-Tehran.jpg?w=300" alt="" data-lazy-srcset="" data-lazy-sizes="" height="" width=""> </div> </div> <div class="o-card__content u-padding-lr-050 u-padding-lr-125@tablet u-padding-lr-125@mobile-max"> <span class="c-span lrv-u-whitespace-nowrap"> <a href="https://web.archive.org/web/20230722034239/https://deadline.com/category/guilds/" class="c-span__link a-font-accent-bold-xs u-color-brand-red u-text-transform-uppercase u-display-block"> Guilds </a> </span> <h3 id="title-of-a-story" class="c-title a-font-secondary-m"> <a href="https://web.archive.org/web/20230722034239/https://deadline.com/2023/07/actors-strike-waivers-explained-duncan-crabtree-ireland-sag-aftra-comic-con-1235445382/" class="c-title__link a-font-secondary-m lrv-a-unstyle-link lrv-u-color-brand-primary:hover"> SAG-AFTRA&#039;s Duncan Crabtree-Ireland Clarifies Waiver Process &amp; Why Apple TV+&#039;s &#039;Tehran&#039; Qualified -- Comic-Con </a> </h3> </div> </a> </article> <article class="o-card u-flex u-flex@mobile-max u-flex-flex-grow-1 u-padding-l-125@tablet u-margin-t-125@mobile-max u-width-100p@mobile-max u-width-50p u-border-l-1@tablet u-border-dotted-l@tablet u-border-color-grey-medium-light"> <a tabindex="0" href="https://web.archive.org/web/20230722034239/https://deadline.com/2023/07/writers-strike-wga-files-federal-complaint-nbcuniversal-construction-1235441167/" class=""> <div class="c-lazy-image u-width-150 u-margin-t-1"> <div class="lrv-a-crop-3x2 a-crop-16x9 u-margin-t-n0" style=""> <img class="c-lazy-image__img lrv-u-background-color-grey-lightest lrv-u-width-100p lrv-u-display-block lrv-u-height-auto" src="https://web.archive.org/web/20230722034239im_/https://deadline.com/wp-content/themes/pmc-deadline-2019/assets/public/lazyload-fallback.jpg" data-lazy-src="https://web.archive.org/web/20230722034239/https://deadline.com/wp-content/uploads/2023/07/NBCUniversal-Trees.jpg?w=300" alt="Actors strike tree dispute" data-lazy-srcset="" data-lazy-sizes="" height="" width=""> </div> </div> <div class="o-card__content u-padding-l-125"> <span class="c-span lrv-u-whitespace-nowrap"> <a href="https://web.archive.org/web/20230722034239/https://deadline.com/category/labor/" class="c-span__link a-font-accent-bold-xs u-color-brand-red u-text-transform-uppercase u-display-block"> Labor </a> </span> <h3 id="title-of-a-story" class="c-title a-font-secondary-m"> <a href="https://web.archive.org/web/20230722034239/https://deadline.com/2023/07/writers-strike-wga-files-federal-complaint-nbcuniversal-construction-1235441167/" class="c-title__link a-font-secondary-m lrv-a-unstyle-link lrv-u-color-brand-primary:hover"> More On Treegate: City To Slap Universal With $250 Fine For Trimming Ficus Trees </a> </h3> </div> </a> </article> </div> </div> </p> <p class="paragraph larva // lrv-u-margin-lr-auto lrv-a-font-body-m "> Long and short: If AMC has to raise cash in a pinch, it will need to sell AMC Preferred Equity units, or APEs, which are worth much less than its common stock. The APEs fell 14% to $1.54 in late trading today. AMC common shares surged 63% to $7.17 after what could, however, become a problematic ruling for the chain.</p> <p class="paragraph larva // lrv-u-margin-lr-auto lrv-a-font-body-m "> AMC avoided bankruptcy during and after Covid as retail investors piled into the stock with gusto. And the box office has made major strides, including this great looking weekend. CEO Adam Aron told Deadline in April that he viewed today&#8217;s ruling as &#8220;the icing on the cake&#8221; of a turnaround. &ldquo;I will be more confident after this, after we have the ability to implement the shareholder vote,&rdquo; he added. &ldquo;When you have the flexibility to raise capital if you need to, it&rsquo;s really important. Whether we will need to or not depends on what &hellip; the box office is this year,&#8221; Aron told Deadline then.</p> <p class="paragraph larva // lrv-u-margin-lr-auto lrv-a-font-body-m "> Now, there&rsquo;s added risk that<a href="https://web.archive.org/web/20230722034239/https://deadline.com/2023/07/release-date-box-office-actors-strike-impact-1235440396/"> an actors&rsquo; strike could pressure the release schedule</a> as soon as the fourth quarter for big films that need the traction of press tours by name actors. If it goes into the fall and beyond, the 2024 box office will feel it. </p> <p class="paragraph larva // lrv-u-margin-lr-auto lrv-a-font-body-m "> Zurn said parties to the case &ldquo;cited AMC&rsquo;s financial situation&rdquo; as they &ldquo;sought to present their settlement for approval on a compressed timeframe.&rdquo;</p> <p class="paragraph larva // lrv-u-margin-lr-auto lrv-a-font-body-m "> Aron created APEs as a workaround last summer after stockholders repeatedly balked at authorizing AMC to issue new shares, which would dilute their holdings. AMC did not require their authorization to issue APEs, so potentially a great idea. But the company waited at bit and the price of the APEs, which are traded on the NYSE, started to drop, falling below a dollar. So this year, AMC said &#8216;never mind.&#8217; It proposed eliminating APEs by converting them into common shares, issuing new common shares, and a ten-for-one reverse stock split to boost the value of the volatile common stock. <div class="admz " id="adm-inline-article-ad-2"> <div class="adma boomerang " data-device="Desktop" data-width="1"> <div style="min-width:50px;min-height:75px;" class="pmc-adm-boomerang-pub-div ad-text" data-priority="10"> <div id="gpt-dl-mid-article-inject2-uid1" class=" adw-1 adh-1" data-is-adhesion-ad=""> <script type="application/javascript"> blogherads.adq.push(function () { blogherads .defineSlot( 'medrec', 'gpt-dl-mid-article-inject2-uid1' ) .setTargeting( 'pos', ["mid-article2","mid-articleX","mid-article","mid","300x251"] ) .setSubAdUnitPath("ros\/mid-article2") .addSize([[300,250],[300,251],[620,350],[2,4],[4,2]]) ; }); </script> </div> </div> </div> </div> </p> <p class="paragraph larva // lrv-u-margin-lr-auto lrv-a-font-body-m "> <a href="https://web.archive.org/web/20230722034239/https://deadline.com/2023/03/amc-shareholders-approve-key-measures-to-raise-fresh-cash-convert-ape-units-to-common-stock-1235298936/">The plan was approved by a majority of shareholders at a special meeting</a>. The judge today noted possible inequity in the vote due to different features of the APEs vs the common shares.</p> <p class="paragraph larva // lrv-u-margin-lr-auto lrv-a-font-body-m "> Shareholders led by Allegheny County Employees&rsquo; Retirement System sued AMC in Chancery Court before the vote to block the proposal but then reached a settled with the theater chain soon after. Zurn said today the settlement failed to address the interests of both AMC common stockholders and APE holders, which are diametrically opposed.</p> <p class="paragraph larva // lrv-u-margin-lr-auto lrv-a-font-body-m "> &ldquo;Under Delaware law, the Court must review all class action settlements to ensure that (1) the representative plaintiffs negotiated a deal for the class that falls within a range of reasonable results that a disinterested person could accept, and (2) the representative plaintiffs satisfied the requirements of due process such that the settlement can bind absent class members to the deal the representative plaintiffs negcotiated,&rdquo; she wrote in her opinion.</p> <p class="paragraph larva // lrv-u-margin-lr-auto lrv-a-font-body-m "> The case included a comment period open to all AMC shareholders &#8212; such a large group that Zurn needed to hire a Special Master to handle them.</p> <p class="paragraph larva // lrv-u-margin-lr-auto lrv-a-font-body-m "> &ldquo;AMC&rsquo;s stockholder base is extraordinary. It includes a great number of human owners who care passionately about their stock ownership and the Company. Many of them are connected to each other online. When notice went out to AMC stockholders, the reaction was unprecedented. The Court received more than 3,500 communications from approximately 2,850 purported stockholders.&rdquo; She said disparate treatment for the two classes of equity holders was not raised by any of them, she said. Issues raised included &ldquo;theories about synthetic shares, Wall Street corruption, dark pool trading, insider trading, and RICO violations, and a request for a share count.&rdquo; But &ldquo;the Court&rsquo;s role is limited to considering settlement specific issues.&rdquo; </p> <p class="paragraph larva // lrv-u-margin-lr-auto lrv-a-font-body-m "> It&#8217;s not clear what happens next. An AMC didn&#8217;t immediately respond to a request for comment.</p> </div> <section data-toaster-wrap class="toaster u-width-100p u-hidden@desktop-max" tabindex="0"> <div data-toaster class="pmc-u-margin-b-0 pmc-u-background-white u-box-shadow-medium pmc-u-padding-a-1 a-wrapper"> <header class="u-flex"> <h2 id="" class="c-heading pmc-u-font-family-balto pmc-u-font-size-24 pmc-u-font-weight-bold"> Must Read Stories </h2> <button class="u-cursor-pointer a-unstyle-button a-icon-before a-icon-do-not-enter u-margin-l-auto u-display-inline-flex u-align-items-center pmc-u-font-size-12 pmc-u-color-brand-red u-color-brand-red-dark:hover u-width-200" data-toaster-trigger> <span id="" class="c-label pmc-u-font-weight-normal pmc-u-margin-l-050 pmc-u-font-size-12" data-toaster-trigger-label> Hide Articles </span> </button> </header> <ul class="o-story-list pmc-a-grid pmc-a-cols4"> <li class="o-story-list__item pmc-u-padding-tb-1"> <div class="o-tease "> <div class="o-tease__primary "> <h3 id="" class="c-title pmc-u-font-size-14"> <a href="https://web.archive.org/web/20230722034239/https://deadline.com/tag/barbie/" class="c-title__link pmc-u-color-black u-color-brand-red:hover"> Glams Up Summer With $150M+ Opening, ‘Oppenheimer’ Eyes $75M+; 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u-background-white@desktop-max u-color-white@desktop pmc-u-padding-t-050@desktop" data-collapsible-panel="" data-collapsible-breakpoint="mobile-only" aria-labelledby="mega-menu-item-film"> <li class="mega-menu__child-list-item // u-border-b-1 u-border-color-grey-medium-light u-border-b-0@desktop pmc-u-font-weight-bold"> <a href="https://web.archive.org/web/20230722034239/https://deadline.com/category/documentary/" class="mega-menu__child-list-item-link // a-unstyle-link pmc-u-padding-l-2 pmc-u-padding-a-1 pmc-u-padding-l-1@desktop pmc-u-padding-tb-025@desktop u-display-block">Documentary</a> </li> </ul> <ul class="mega-menu__child-list // a-unstyle-list u-background-white@desktop-max u-color-white@desktop pmc-u-padding-t-050@desktop" data-collapsible-panel="" data-collapsible-breakpoint="mobile-only" aria-labelledby="mega-menu-item-film"> <li class="mega-menu__child-list-item // u-border-b-1 u-border-color-grey-medium-light u-border-b-0@desktop pmc-u-font-weight-bold"> <a href="https://web.archive.org/web/20230722034239/https://deadline.com/category/executives/" class="mega-menu__child-list-item-link // a-unstyle-link pmc-u-padding-l-2 pmc-u-padding-a-1 pmc-u-padding-l-1@desktop pmc-u-padding-tb-025@desktop u-display-block">Executives</a> </li> </ul> <ul class="mega-menu__child-list // a-unstyle-list u-background-white@desktop-max u-color-white@desktop pmc-u-padding-t-050@desktop" data-collapsible-panel="" data-collapsible-breakpoint="mobile-only" aria-labelledby="mega-menu-item-film"> <li class="mega-menu__child-list-item // u-border-b-1 u-border-color-grey-medium-light u-border-b-0@desktop pmc-u-font-weight-bold"> <a href="https://web.archive.org/web/20230722034239/https://deadline.com/category/festivals/" class="mega-menu__child-list-item-link // a-unstyle-link pmc-u-padding-l-2 pmc-u-padding-a-1 pmc-u-padding-l-1@desktop pmc-u-padding-tb-025@desktop u-display-block">Festivals</a> </li> </ul> <ul class="mega-menu__child-list // a-unstyle-list u-background-white@desktop-max u-color-white@desktop pmc-u-padding-t-050@desktop" data-collapsible-panel="" data-collapsible-breakpoint="mobile-only" aria-labelledby="mega-menu-item-film"> <li class="mega-menu__child-list-item // u-border-b-1 u-border-color-grey-medium-light u-border-b-0@desktop pmc-u-font-weight-bold"> <a href="https://web.archive.org/web/20230722034239/https://deadline.com/category/reviews/" class="mega-menu__child-list-item-link // a-unstyle-link pmc-u-padding-l-2 pmc-u-padding-a-1 pmc-u-padding-l-1@desktop pmc-u-padding-tb-025@desktop u-display-block">Reviews</a> </li> </ul> </li> <li class="mega-menu__parent-list-item // pmc-a-grid-item u-border-b-1 u-border-color-grey-medium-dark u-border-b-0@desktop" data-collapsible="collapsed"> <h3 id="mega-menu-item-tv" class="u-flex pmc-u-color-white u-border-b-2@desktop u-border-color-brand-red"> <a tabindex="0" href="https://web.archive.org/web/20230722034239/https://deadline.com/v/tv/" class="a-unstyle-link u-color-grey-medium-light:hover pmc-u-font-weight-bold pmc-u-padding-a-1 pmc-u-padding-b-025@desktop pmc-u-font-size-20 pmc-u-font-size-32@desktop"> TV </a> <button class="a-unstyle-button u-display-inline-flex u-margin-l-auto pmc-u-padding-a-1 u-display-none@desktop u-cursor-pointer" data-collapsible-toggle="always-show"> <span class="a-become-close-button a-become-close-button--toggle "> <span class="a-screen-reader-only">Expand the sub-menu</span> </span> </button> </h3> <ul class="mega-menu__child-list // a-unstyle-list u-background-white@desktop-max u-color-white@desktop pmc-u-padding-t-050@desktop" data-collapsible-panel="" data-collapsible-breakpoint="mobile-only" aria-labelledby="mega-menu-item-tv"> <li class="mega-menu__child-list-item // u-border-b-1 u-border-color-grey-medium-light u-border-b-0@desktop pmc-u-font-weight-bold"> <a href="https://web.archive.org/web/20230722034239/https://deadline.com/category/primetime-pilot-panic/" class="mega-menu__child-list-item-link // a-unstyle-link pmc-u-padding-l-2 pmc-u-padding-a-1 pmc-u-padding-l-1@desktop pmc-u-padding-tb-025@desktop u-display-block">Primetime Pilot Panic</a> </li> </ul> <ul class="mega-menu__child-list // a-unstyle-list u-background-white@desktop-max u-color-white@desktop pmc-u-padding-t-050@desktop" data-collapsible-panel="" data-collapsible-breakpoint="mobile-only" aria-labelledby="mega-menu-item-tv"> <li class="mega-menu__child-list-item // u-border-b-1 u-border-color-grey-medium-light u-border-b-0@desktop pmc-u-font-weight-bold"> <a href="https://web.archive.org/web/20230722034239/https://deadline.com/category/cancellations/" class="mega-menu__child-list-item-link // a-unstyle-link pmc-u-padding-l-2 pmc-u-padding-a-1 pmc-u-padding-l-1@desktop pmc-u-padding-tb-025@desktop u-display-block">Cancellations</a> </li> </ul> <ul class="mega-menu__child-list // a-unstyle-list u-background-white@desktop-max u-color-white@desktop pmc-u-padding-t-050@desktop" data-collapsible-panel="" data-collapsible-breakpoint="mobile-only" aria-labelledby="mega-menu-item-tv"> <li class="mega-menu__child-list-item // u-border-b-1 u-border-color-grey-medium-light u-border-b-0@desktop pmc-u-font-weight-bold"> <a href="https://web.archive.org/web/20230722034239/https://deadline.com/category/casting/" class="mega-menu__child-list-item-link // a-unstyle-link pmc-u-padding-l-2 pmc-u-padding-a-1 pmc-u-padding-l-1@desktop pmc-u-padding-tb-025@desktop u-display-block">Castings</a> </li> </ul> <ul class="mega-menu__child-list // a-unstyle-list u-background-white@desktop-max u-color-white@desktop pmc-u-padding-t-050@desktop" data-collapsible-panel="" data-collapsible-breakpoint="mobile-only" aria-labelledby="mega-menu-item-tv"> <li class="mega-menu__child-list-item // u-border-b-1 u-border-color-grey-medium-light u-border-b-0@desktop pmc-u-font-weight-bold"> <a href="https://web.archive.org/web/20230722034239/https://deadline.com/category/ratings/" class="mega-menu__child-list-item-link // a-unstyle-link pmc-u-padding-l-2 pmc-u-padding-a-1 pmc-u-padding-l-1@desktop pmc-u-padding-tb-025@desktop u-display-block">Ratings</a> </li> </ul> <ul class="mega-menu__child-list // a-unstyle-list u-background-white@desktop-max u-color-white@desktop pmc-u-padding-t-050@desktop" data-collapsible-panel="" data-collapsible-breakpoint="mobile-only" aria-labelledby="mega-menu-item-tv"> <li class="mega-menu__child-list-item // u-border-b-1 u-border-color-grey-medium-light u-border-b-0@desktop pmc-u-font-weight-bold"> <a href="https://web.archive.org/web/20230722034239/https://deadline.com/category/renewals/" class="mega-menu__child-list-item-link // a-unstyle-link pmc-u-padding-l-2 pmc-u-padding-a-1 pmc-u-padding-l-1@desktop pmc-u-padding-tb-025@desktop u-display-block">Renewals</a> </li> </ul> <ul class="mega-menu__child-list // a-unstyle-list u-background-white@desktop-max u-color-white@desktop pmc-u-padding-t-050@desktop" data-collapsible-panel="" data-collapsible-breakpoint="mobile-only" aria-labelledby="mega-menu-item-tv"> <li class="mega-menu__child-list-item // u-border-b-1 u-border-color-grey-medium-light u-border-b-0@desktop pmc-u-font-weight-bold"> <a href="https://web.archive.org/web/20230722034239/https://deadline.com/category/late-night-tv/" class="mega-menu__child-list-item-link // a-unstyle-link pmc-u-padding-l-2 pmc-u-padding-a-1 pmc-u-padding-l-1@desktop pmc-u-padding-tb-025@desktop u-display-block">Late-Night</a> </li> </ul> </li> <li class="mega-menu__parent-list-item // pmc-a-grid-item u-border-b-1 u-border-color-grey-medium-dark u-border-b-0@desktop" data-collapsible="collapsed"> <h3 id="mega-menu-item-awardsline" class="u-flex pmc-u-color-white u-border-b-2@desktop u-border-color-brand-red"> <a tabindex="0" href="https://web.archive.org/web/20230722034239/https://deadline.com/v/awards/" class="a-unstyle-link u-color-grey-medium-light:hover pmc-u-font-weight-bold pmc-u-padding-a-1 pmc-u-padding-b-025@desktop pmc-u-font-size-20 pmc-u-font-size-32@desktop"> Awardsline </a> <button class="a-unstyle-button u-display-inline-flex u-margin-l-auto pmc-u-padding-a-1 u-display-none@desktop u-cursor-pointer" data-collapsible-toggle="always-show"> <span class="a-become-close-button a-become-close-button--toggle "> <span class="a-screen-reader-only">Expand the sub-menu</span> </span> </button> </h3> <ul class="mega-menu__child-list // a-unstyle-list u-background-white@desktop-max u-color-white@desktop pmc-u-padding-t-050@desktop" data-collapsible-panel="" data-collapsible-breakpoint="mobile-only" aria-labelledby="mega-menu-item-awardsline"> <li class="mega-menu__child-list-item // u-border-b-1 u-border-color-grey-medium-light u-border-b-0@desktop pmc-u-font-weight-bold"> <a href="https://web.archive.org/web/20230722034239/https://deadline.com/category/the-contenders/" class="mega-menu__child-list-item-link // a-unstyle-link pmc-u-padding-l-2 pmc-u-padding-a-1 pmc-u-padding-l-1@desktop pmc-u-padding-tb-025@desktop u-display-block">The Contenders</a> </li> </ul> <ul class="mega-menu__child-list // a-unstyle-list u-background-white@desktop-max u-color-white@desktop pmc-u-padding-t-050@desktop" data-collapsible-panel="" data-collapsible-breakpoint="mobile-only" aria-labelledby="mega-menu-item-awardsline"> <li class="mega-menu__child-list-item // u-border-b-1 u-border-color-grey-medium-light u-border-b-0@desktop pmc-u-font-weight-bold"> <a href="https://web.archive.org/web/20230722034239/https://deadline.com/category/emmy/" class="mega-menu__child-list-item-link // a-unstyle-link pmc-u-padding-l-2 pmc-u-padding-a-1 pmc-u-padding-l-1@desktop pmc-u-padding-tb-025@desktop u-display-block">Emmys</a> </li> </ul> <ul class="mega-menu__child-list // a-unstyle-list u-background-white@desktop-max u-color-white@desktop pmc-u-padding-t-050@desktop" data-collapsible-panel="" data-collapsible-breakpoint="mobile-only" aria-labelledby="mega-menu-item-awardsline"> <li class="mega-menu__child-list-item // u-border-b-1 u-border-color-grey-medium-light u-border-b-0@desktop pmc-u-font-weight-bold"> <a href="https://web.archive.org/web/20230722034239/https://deadline.com/category/oscar/" class="mega-menu__child-list-item-link // a-unstyle-link pmc-u-padding-l-2 pmc-u-padding-a-1 pmc-u-padding-l-1@desktop pmc-u-padding-tb-025@desktop u-display-block">Oscars</a> </li> </ul> <ul class="mega-menu__child-list // a-unstyle-list u-background-white@desktop-max u-color-white@desktop pmc-u-padding-t-050@desktop" data-collapsible-panel="" data-collapsible-breakpoint="mobile-only" aria-labelledby="mega-menu-item-awardsline"> <li class="mega-menu__child-list-item // u-border-b-1 u-border-color-grey-medium-light u-border-b-0@desktop pmc-u-font-weight-bold"> <a href="https://web.archive.org/web/20230722034239/https://deadline.com/tag/tony-awards/" class="mega-menu__child-list-item-link // a-unstyle-link pmc-u-padding-l-2 pmc-u-padding-a-1 pmc-u-padding-l-1@desktop pmc-u-padding-tb-025@desktop u-display-block">Tonys</a> </li> </ul> <ul class="mega-menu__child-list // a-unstyle-list u-background-white@desktop-max u-color-white@desktop pmc-u-padding-t-050@desktop" data-collapsible-panel="" data-collapsible-breakpoint="mobile-only" aria-labelledby="mega-menu-item-awardsline"> <li class="mega-menu__child-list-item // u-border-b-1 u-border-color-grey-medium-light u-border-b-0@desktop pmc-u-font-weight-bold"> <a href="https://web.archive.org/web/20230722034239/https://deadline.com/category/guilds/" class="mega-menu__child-list-item-link // a-unstyle-link pmc-u-padding-l-2 pmc-u-padding-a-1 pmc-u-padding-l-1@desktop pmc-u-padding-tb-025@desktop u-display-block">Guilds</a> </li> </ul> <ul class="mega-menu__child-list // a-unstyle-list u-background-white@desktop-max u-color-white@desktop pmc-u-padding-t-050@desktop" data-collapsible-panel="" data-collapsible-breakpoint="mobile-only" aria-labelledby="mega-menu-item-awardsline"> <li class="mega-menu__child-list-item // u-border-b-1 u-border-color-grey-medium-light u-border-b-0@desktop pmc-u-font-weight-bold"> <a href="https://web.archive.org/web/20230722034239/https://deadline.com/v/video/" class="mega-menu__child-list-item-link // a-unstyle-link pmc-u-padding-l-2 pmc-u-padding-a-1 pmc-u-padding-l-1@desktop pmc-u-padding-tb-025@desktop u-display-block">Deadline Video Series</a> </li> </ul> </li> <li class="mega-menu__parent-list-item // pmc-a-grid-item u-border-b-1 u-border-color-grey-medium-dark u-border-b-0@desktop" data-collapsible="collapsed"> <h3 id="mega-menu-item-box-office" class="u-flex pmc-u-color-white u-border-b-2@desktop u-border-color-brand-red"> <a tabindex="0" href="https://web.archive.org/web/20230722034239/https://deadline.com/v/box-office/" class="a-unstyle-link u-color-grey-medium-light:hover pmc-u-font-weight-bold pmc-u-padding-a-1 pmc-u-padding-b-025@desktop pmc-u-font-size-20 pmc-u-font-size-32@desktop"> Box Office </a> <button class="a-unstyle-button u-display-inline-flex u-margin-l-auto pmc-u-padding-a-1 u-display-none@desktop u-cursor-pointer" data-collapsible-toggle="always-show"> <span class="a-become-close-button a-become-close-button--toggle "> <span class="a-screen-reader-only">Expand the sub-menu</span> </span> </button> </h3> <ul class="mega-menu__child-list // a-unstyle-list u-background-white@desktop-max u-color-white@desktop pmc-u-padding-t-050@desktop" data-collapsible-panel="" data-collapsible-breakpoint="mobile-only" aria-labelledby="mega-menu-item-box-office"> <li class="mega-menu__child-list-item // u-border-b-1 u-border-color-grey-medium-light u-border-b-0@desktop pmc-u-font-weight-bold"> <a href="https://web.archive.org/web/20230722034239/https://deadline.com/category/exhibition/" class="mega-menu__child-list-item-link // a-unstyle-link pmc-u-padding-l-2 pmc-u-padding-a-1 pmc-u-padding-l-1@desktop pmc-u-padding-tb-025@desktop u-display-block">Exhibition</a> </li> </ul> <ul class="mega-menu__child-list // a-unstyle-list u-background-white@desktop-max u-color-white@desktop pmc-u-padding-t-050@desktop" data-collapsible-panel="" data-collapsible-breakpoint="mobile-only" aria-labelledby="mega-menu-item-box-office"> <li class="mega-menu__child-list-item // u-border-b-1 u-border-color-grey-medium-light u-border-b-0@desktop pmc-u-font-weight-bold"> <a href="https://web.archive.org/web/20230722034239/https://deadline.com/category/release-dates/" class="mega-menu__child-list-item-link // a-unstyle-link pmc-u-padding-l-2 pmc-u-padding-a-1 pmc-u-padding-l-1@desktop pmc-u-padding-tb-025@desktop u-display-block">Release Dates</a> </li> </ul> <ul class="mega-menu__child-list // a-unstyle-list u-background-white@desktop-max u-color-white@desktop pmc-u-padding-t-050@desktop" data-collapsible-panel="" data-collapsible-breakpoint="mobile-only" aria-labelledby="mega-menu-item-box-office"> <li class="mega-menu__child-list-item // u-border-b-1 u-border-color-grey-medium-light u-border-b-0@desktop pmc-u-font-weight-bold"> <a href="https://web.archive.org/web/20230722034239/https://deadline.com/category/marketing/" class="mega-menu__child-list-item-link // a-unstyle-link pmc-u-padding-l-2 pmc-u-padding-a-1 pmc-u-padding-l-1@desktop pmc-u-padding-tb-025@desktop u-display-block">Marketing</a> </li> </ul> <ul class="mega-menu__child-list // a-unstyle-list u-background-white@desktop-max u-color-white@desktop pmc-u-padding-t-050@desktop" data-collapsible-panel="" data-collapsible-breakpoint="mobile-only" aria-labelledby="mega-menu-item-box-office"> <li class="mega-menu__child-list-item // u-border-b-1 u-border-color-grey-medium-light u-border-b-0@desktop pmc-u-font-weight-bold"> <a href="https://web.archive.org/web/20230722034239/https://deadline.com/tag/international-box-office/" class="mega-menu__child-list-item-link // a-unstyle-link pmc-u-padding-l-2 pmc-u-padding-a-1 pmc-u-padding-l-1@desktop pmc-u-padding-tb-025@desktop u-display-block">International B.O.</a> </li> </ul> <ul class="mega-menu__child-list // a-unstyle-list u-background-white@desktop-max u-color-white@desktop pmc-u-padding-t-050@desktop" data-collapsible-panel="" data-collapsible-breakpoint="mobile-only" aria-labelledby="mega-menu-item-box-office"> <li class="mega-menu__child-list-item // u-border-b-1 u-border-color-grey-medium-light u-border-b-0@desktop pmc-u-font-weight-bold"> <a href="https://web.archive.org/web/20230722034239/https://deadline.com/tag/specialty-box-office/" class="mega-menu__child-list-item-link // a-unstyle-link pmc-u-padding-l-2 pmc-u-padding-a-1 pmc-u-padding-l-1@desktop pmc-u-padding-tb-025@desktop u-display-block">Specialty B.O.</a> </li> </ul> <ul class="mega-menu__child-list // a-unstyle-list u-background-white@desktop-max u-color-white@desktop pmc-u-padding-t-050@desktop" data-collapsible-panel="" data-collapsible-breakpoint="mobile-only" aria-labelledby="mega-menu-item-box-office"> <li class="mega-menu__child-list-item // u-border-b-1 u-border-color-grey-medium-light u-border-b-0@desktop pmc-u-font-weight-bold"> <a href="https://web.archive.org/web/20230722034239/https://deadline.com/tag/broadway-box-office/" class="mega-menu__child-list-item-link // a-unstyle-link pmc-u-padding-l-2 pmc-u-padding-a-1 pmc-u-padding-l-1@desktop pmc-u-padding-tb-025@desktop u-display-block">Broadway B.O.</a> </li> </ul> </li> <li class="mega-menu__parent-list-item // pmc-a-grid-item u-border-b-1 u-border-color-grey-medium-dark u-border-b-0@desktop" data-collapsible="collapsed"> <h3 id="mega-menu-item-business" class="u-flex pmc-u-color-white u-border-b-2@desktop u-border-color-brand-red"> <a tabindex="0" href="https://web.archive.org/web/20230722034239/https://deadline.com/v/business/" class="a-unstyle-link u-color-grey-medium-light:hover pmc-u-font-weight-bold pmc-u-padding-a-1 pmc-u-padding-b-025@desktop pmc-u-font-size-20 pmc-u-font-size-32@desktop"> Business </a> <button class="a-unstyle-button u-display-inline-flex u-margin-l-auto pmc-u-padding-a-1 u-display-none@desktop u-cursor-pointer" data-collapsible-toggle="always-show"> <span class="a-become-close-button a-become-close-button--toggle "> <span class="a-screen-reader-only">Expand the sub-menu</span> </span> </button> </h3> <ul class="mega-menu__child-list // a-unstyle-list u-background-white@desktop-max u-color-white@desktop pmc-u-padding-t-050@desktop" data-collapsible-panel="" data-collapsible-breakpoint="mobile-only" aria-labelledby="mega-menu-item-business"> <li class="mega-menu__child-list-item // u-border-b-1 u-border-color-grey-medium-light u-border-b-0@desktop pmc-u-font-weight-bold"> <a href="https://web.archive.org/web/20230722034239/https://deadline.com/category/legal/" class="mega-menu__child-list-item-link // a-unstyle-link pmc-u-padding-l-2 pmc-u-padding-a-1 pmc-u-padding-l-1@desktop pmc-u-padding-tb-025@desktop u-display-block">Legal</a> </li> </ul> <ul class="mega-menu__child-list // a-unstyle-list u-background-white@desktop-max u-color-white@desktop pmc-u-padding-t-050@desktop" data-collapsible-panel="" data-collapsible-breakpoint="mobile-only" aria-labelledby="mega-menu-item-business"> <li class="mega-menu__child-list-item // u-border-b-1 u-border-color-grey-medium-light u-border-b-0@desktop pmc-u-font-weight-bold"> <a href="https://web.archive.org/web/20230722034239/https://deadline.com/category/politics/" class="mega-menu__child-list-item-link // a-unstyle-link pmc-u-padding-l-2 pmc-u-padding-a-1 pmc-u-padding-l-1@desktop pmc-u-padding-tb-025@desktop u-display-block">Politics</a> </li> </ul> <ul class="mega-menu__child-list // a-unstyle-list u-background-white@desktop-max u-color-white@desktop pmc-u-padding-t-050@desktop" data-collapsible-panel="" data-collapsible-breakpoint="mobile-only" aria-labelledby="mega-menu-item-business"> <li class="mega-menu__child-list-item // u-border-b-1 u-border-color-grey-medium-light u-border-b-0@desktop pmc-u-font-weight-bold"> <a href="https://web.archive.org/web/20230722034239/https://deadline.com/category/labor/" class="mega-menu__child-list-item-link // a-unstyle-link pmc-u-padding-l-2 pmc-u-padding-a-1 pmc-u-padding-l-1@desktop pmc-u-padding-tb-025@desktop u-display-block">Labor</a> </li> </ul> <ul class="mega-menu__child-list // a-unstyle-list u-background-white@desktop-max u-color-white@desktop pmc-u-padding-t-050@desktop" data-collapsible-panel="" data-collapsible-breakpoint="mobile-only" aria-labelledby="mega-menu-item-business"> <li class="mega-menu__child-list-item // u-border-b-1 u-border-color-grey-medium-light u-border-b-0@desktop pmc-u-font-weight-bold"> <a href="https://web.archive.org/web/20230722034239/https://deadline.com/category/agencies/" class="mega-menu__child-list-item-link // a-unstyle-link pmc-u-padding-l-2 pmc-u-padding-a-1 pmc-u-padding-l-1@desktop pmc-u-padding-tb-025@desktop u-display-block">Agencies</a> </li> </ul> <ul class="mega-menu__child-list // a-unstyle-list u-background-white@desktop-max u-color-white@desktop pmc-u-padding-t-050@desktop" data-collapsible-panel="" data-collapsible-breakpoint="mobile-only" aria-labelledby="mega-menu-item-business"> <li class="mega-menu__child-list-item // u-border-b-1 u-border-color-grey-medium-light u-border-b-0@desktop pmc-u-font-weight-bold"> <a href="https://web.archive.org/web/20230722034239/https://deadline.com/category/corporate-affairs/" class="mega-menu__child-list-item-link // a-unstyle-link pmc-u-padding-l-2 pmc-u-padding-a-1 pmc-u-padding-l-1@desktop pmc-u-padding-tb-025@desktop u-display-block">Corporate Affairs</a> </li> </ul> <ul class="mega-menu__child-list // a-unstyle-list u-background-white@desktop-max u-color-white@desktop pmc-u-padding-t-050@desktop" data-collapsible-panel="" data-collapsible-breakpoint="mobile-only" aria-labelledby="mega-menu-item-business"> <li class="mega-menu__child-list-item // u-border-b-1 u-border-color-grey-medium-light u-border-b-0@desktop pmc-u-font-weight-bold"> <a href="https://web.archive.org/web/20230722034239/https://deadline.com/category/earnings/" class="mega-menu__child-list-item-link // a-unstyle-link pmc-u-padding-l-2 pmc-u-padding-a-1 pmc-u-padding-l-1@desktop pmc-u-padding-tb-025@desktop u-display-block">Earnings</a> </li> </ul> <ul class="mega-menu__child-list // a-unstyle-list u-background-white@desktop-max u-color-white@desktop pmc-u-padding-t-050@desktop" data-collapsible-panel="" data-collapsible-breakpoint="mobile-only" aria-labelledby="mega-menu-item-business"> <li class="mega-menu__child-list-item // u-border-b-1 u-border-color-grey-medium-light u-border-b-0@desktop pmc-u-font-weight-bold"> <a href="https://web.archive.org/web/20230722034239/https://deadline.com/category/executives/" class="mega-menu__child-list-item-link // a-unstyle-link pmc-u-padding-l-2 pmc-u-padding-a-1 pmc-u-padding-l-1@desktop pmc-u-padding-tb-025@desktop u-display-block">Executives</a> </li> </ul> </li> <li class="mega-menu__parent-list-item // pmc-a-grid-item u-border-b-1 u-border-color-grey-medium-dark u-border-b-0@desktop" data-collapsible="collapsed"> <h3 id="mega-menu-item-international" class="u-flex pmc-u-color-white u-border-b-2@desktop u-border-color-brand-red"> <a tabindex="0" href="https://web.archive.org/web/20230722034239/https://deadline.com/v/international/" class="a-unstyle-link u-color-grey-medium-light:hover pmc-u-font-weight-bold pmc-u-padding-a-1 pmc-u-padding-b-025@desktop pmc-u-font-size-20 pmc-u-font-size-32@desktop"> International </a> <button class="a-unstyle-button u-display-inline-flex u-margin-l-auto pmc-u-padding-a-1 u-display-none@desktop u-cursor-pointer" data-collapsible-toggle="always-show"> <span class="a-become-close-button a-become-close-button--toggle "> <span class="a-screen-reader-only">Expand the sub-menu</span> </span> </button> </h3> <ul class="mega-menu__child-list // a-unstyle-list u-background-white@desktop-max u-color-white@desktop pmc-u-padding-t-050@desktop" data-collapsible-panel="" data-collapsible-breakpoint="mobile-only" aria-labelledby="mega-menu-item-international"> <li class="mega-menu__child-list-item // u-border-b-1 u-border-color-grey-medium-light u-border-b-0@desktop pmc-u-font-weight-bold"> <a href="https://web.archive.org/web/20230722034239/https://deadline.com/v/film/" class="mega-menu__child-list-item-link // a-unstyle-link pmc-u-padding-l-2 pmc-u-padding-a-1 pmc-u-padding-l-1@desktop pmc-u-padding-tb-025@desktop u-display-block">Film</a> </li> </ul> <ul class="mega-menu__child-list // a-unstyle-list u-background-white@desktop-max u-color-white@desktop pmc-u-padding-t-050@desktop" data-collapsible-panel="" data-collapsible-breakpoint="mobile-only" aria-labelledby="mega-menu-item-international"> <li class="mega-menu__child-list-item // u-border-b-1 u-border-color-grey-medium-light u-border-b-0@desktop pmc-u-font-weight-bold"> <a href="https://web.archive.org/web/20230722034239/https://deadline.com/v/tv/" class="mega-menu__child-list-item-link // a-unstyle-link pmc-u-padding-l-2 pmc-u-padding-a-1 pmc-u-padding-l-1@desktop pmc-u-padding-tb-025@desktop u-display-block">TV</a> </li> </ul> <ul class="mega-menu__child-list // a-unstyle-list u-background-white@desktop-max u-color-white@desktop pmc-u-padding-t-050@desktop" data-collapsible-panel="" data-collapsible-breakpoint="mobile-only" aria-labelledby="mega-menu-item-international"> <li class="mega-menu__child-list-item // u-border-b-1 u-border-color-grey-medium-light u-border-b-0@desktop pmc-u-font-weight-bold"> <a href="https://web.archive.org/web/20230722034239/https://deadline.com/category/festivals/" class="mega-menu__child-list-item-link // a-unstyle-link pmc-u-padding-l-2 pmc-u-padding-a-1 pmc-u-padding-l-1@desktop pmc-u-padding-tb-025@desktop u-display-block">Festivals</a> </li> </ul> <ul class="mega-menu__child-list // a-unstyle-list u-background-white@desktop-max u-color-white@desktop pmc-u-padding-t-050@desktop" data-collapsible-panel="" data-collapsible-breakpoint="mobile-only" aria-labelledby="mega-menu-item-international"> <li class="mega-menu__child-list-item // u-border-b-1 u-border-color-grey-medium-light u-border-b-0@desktop pmc-u-font-weight-bold"> <a href="https://web.archive.org/web/20230722034239/https://deadline.com/tag/deadline-international-insider/" class="mega-menu__child-list-item-link // a-unstyle-link pmc-u-padding-l-2 pmc-u-padding-a-1 pmc-u-padding-l-1@desktop pmc-u-padding-tb-025@desktop u-display-block">International Insider</a> </li> </ul> </li> <li class="mega-menu__parent-list-item // pmc-a-grid-item u-border-b-1 u-border-color-grey-medium-dark u-border-b-0@desktop" data-collapsible="collapsed"> <h3 id="mega-menu-item-video" class="u-flex pmc-u-color-white u-border-b-2@desktop u-border-color-brand-red"> <a tabindex="0" href="https://web.archive.org/web/20230722034239/https://deadline.com/v/video/" class="a-unstyle-link u-color-grey-medium-light:hover pmc-u-font-weight-bold pmc-u-padding-a-1 pmc-u-padding-b-025@desktop pmc-u-font-size-20 pmc-u-font-size-32@desktop"> Video </a> <button class="a-unstyle-button u-display-inline-flex u-margin-l-auto pmc-u-padding-a-1 u-display-none@desktop u-cursor-pointer" data-collapsible-toggle="always-show"> <span class="a-become-close-button a-become-close-button--toggle "> <span class="a-screen-reader-only">Expand the sub-menu</span> </span> </button> </h3> <ul class="mega-menu__child-list // a-unstyle-list u-background-white@desktop-max u-color-white@desktop pmc-u-padding-t-050@desktop" data-collapsible-panel="" data-collapsible-breakpoint="mobile-only" aria-labelledby="mega-menu-item-video"> <li class="mega-menu__child-list-item // u-border-b-1 u-border-color-grey-medium-light u-border-b-0@desktop pmc-u-font-weight-bold"> <a href="https://web.archive.org/web/20230722034239/https://deadline.com/vcategory/the-film-that-lit-my-fuse/" class="mega-menu__child-list-item-link // a-unstyle-link pmc-u-padding-l-2 pmc-u-padding-a-1 pmc-u-padding-l-1@desktop pmc-u-padding-tb-025@desktop u-display-block">The Film That Lit My Fuse</a> </li> </ul> <ul class="mega-menu__child-list // a-unstyle-list u-background-white@desktop-max u-color-white@desktop pmc-u-padding-t-050@desktop" data-collapsible-panel="" data-collapsible-breakpoint="mobile-only" aria-labelledby="mega-menu-item-video"> <li class="mega-menu__child-list-item // u-border-b-1 u-border-color-grey-medium-light u-border-b-0@desktop pmc-u-font-weight-bold"> <a href="https://web.archive.org/web/20230722034239/https://deadline.com/category/trailers/" class="mega-menu__child-list-item-link // a-unstyle-link pmc-u-padding-l-2 pmc-u-padding-a-1 pmc-u-padding-l-1@desktop pmc-u-padding-tb-025@desktop u-display-block">Trailers</a> </li> </ul> <ul class="mega-menu__child-list // a-unstyle-list u-background-white@desktop-max u-color-white@desktop pmc-u-padding-t-050@desktop" data-collapsible-panel="" data-collapsible-breakpoint="mobile-only" aria-labelledby="mega-menu-item-video"> <li class="mega-menu__child-list-item // u-border-b-1 u-border-color-grey-medium-light u-border-b-0@desktop pmc-u-font-weight-bold"> <a href="https://web.archive.org/web/20230722034239/https://deadline.com/tag/the-actors-side/" class="mega-menu__child-list-item-link // a-unstyle-link pmc-u-padding-l-2 pmc-u-padding-a-1 pmc-u-padding-l-1@desktop pmc-u-padding-tb-025@desktop u-display-block">The Actor's Side</a> </li> </ul> <ul class="mega-menu__child-list // a-unstyle-list u-background-white@desktop-max u-color-white@desktop pmc-u-padding-t-050@desktop" data-collapsible-panel="" data-collapsible-breakpoint="mobile-only" aria-labelledby="mega-menu-item-video"> <li class="mega-menu__child-list-item // u-border-b-1 u-border-color-grey-medium-light u-border-b-0@desktop pmc-u-font-weight-bold"> <a href="https://web.archive.org/web/20230722034239/https://deadline.com/tag/behind-the-lens/" class="mega-menu__child-list-item-link // a-unstyle-link pmc-u-padding-l-2 pmc-u-padding-a-1 pmc-u-padding-l-1@desktop pmc-u-padding-tb-025@desktop u-display-block">Behind The Lens</a> </li> </ul> <ul class="mega-menu__child-list // a-unstyle-list u-background-white@desktop-max u-color-white@desktop pmc-u-padding-t-050@desktop" data-collapsible-panel="" data-collapsible-breakpoint="mobile-only" aria-labelledby="mega-menu-item-video"> <li class="mega-menu__child-list-item // u-border-b-1 u-border-color-grey-medium-light u-border-b-0@desktop pmc-u-font-weight-bold"> <a href="https://web.archive.org/web/20230722034239/https://deadline.com/vcategory/take-two/" class="mega-menu__child-list-item-link // a-unstyle-link pmc-u-padding-l-2 pmc-u-padding-a-1 pmc-u-padding-l-1@desktop pmc-u-padding-tb-025@desktop u-display-block">Take Two</a> </li> </ul> <ul class="mega-menu__child-list // a-unstyle-list u-background-white@desktop-max u-color-white@desktop pmc-u-padding-t-050@desktop" data-collapsible-panel="" data-collapsible-breakpoint="mobile-only" aria-labelledby="mega-menu-item-video"> <li class="mega-menu__child-list-item // u-border-b-1 u-border-color-grey-medium-light u-border-b-0@desktop pmc-u-font-weight-bold"> <a href="https://web.archive.org/web/20230722034239/https://deadline.com/tag/production-value/" class="mega-menu__child-list-item-link // a-unstyle-link pmc-u-padding-l-2 pmc-u-padding-a-1 pmc-u-padding-l-1@desktop pmc-u-padding-tb-025@desktop u-display-block">Production Value</a> </li> </ul> </li> <li class="mega-menu__parent-list-item // pmc-a-grid-item u-border-b-1 u-border-color-grey-medium-dark u-border-b-0@desktop" data-collapsible="collapsed"> <h3 id="mega-menu-item-more" class="u-flex pmc-u-color-white u-border-b-2@desktop u-border-color-brand-red"> <a tabindex="0" href="https://web.archive.org/web/20230722034239/https://deadline.com/" class="a-unstyle-link u-color-grey-medium-light:hover pmc-u-font-weight-bold pmc-u-padding-a-1 pmc-u-padding-b-025@desktop pmc-u-font-size-20 pmc-u-font-size-32@desktop"> More </a> <button class="a-unstyle-button u-display-inline-flex u-margin-l-auto pmc-u-padding-a-1 u-display-none@desktop u-cursor-pointer" data-collapsible-toggle="always-show"> <span class="a-become-close-button a-become-close-button--toggle "> <span class="a-screen-reader-only">Expand the sub-menu</span> </span> </button> </h3> <ul class="mega-menu__child-list // a-unstyle-list u-background-white@desktop-max u-color-white@desktop pmc-u-padding-t-050@desktop" data-collapsible-panel="" data-collapsible-breakpoint="mobile-only" aria-labelledby="mega-menu-item-more"> <li class="mega-menu__child-list-item // u-border-b-1 u-border-color-grey-medium-light u-border-b-0@desktop pmc-u-font-weight-bold"> <a href="https://web.archive.org/web/20230722034239/https://insider.deadline.com/" class="mega-menu__child-list-item-link // a-unstyle-link pmc-u-padding-l-2 pmc-u-padding-a-1 pmc-u-padding-l-1@desktop pmc-u-padding-tb-025@desktop u-display-block">Insider</a> </li> </ul> <ul class="mega-menu__child-list // a-unstyle-list u-background-white@desktop-max u-color-white@desktop pmc-u-padding-t-050@desktop" data-collapsible-panel="" data-collapsible-breakpoint="mobile-only" aria-labelledby="mega-menu-item-more"> <li class="mega-menu__child-list-item // u-border-b-1 u-border-color-grey-medium-light u-border-b-0@desktop pmc-u-font-weight-bold"> <a href="https://web.archive.org/web/20230722034239/https://deadline.com/category/obituaries/" class="mega-menu__child-list-item-link // a-unstyle-link pmc-u-padding-l-2 pmc-u-padding-a-1 pmc-u-padding-l-1@desktop pmc-u-padding-tb-025@desktop u-display-block">Obituaries</a> </li> </ul> <ul class="mega-menu__child-list // a-unstyle-list u-background-white@desktop-max u-color-white@desktop pmc-u-padding-t-050@desktop" data-collapsible-panel="" data-collapsible-breakpoint="mobile-only" aria-labelledby="mega-menu-item-more"> <li class="mega-menu__child-list-item // u-border-b-1 u-border-color-grey-medium-light u-border-b-0@desktop pmc-u-font-weight-bold"> <a href="https://web.archive.org/web/20230722034239/https://deadline.com/category/the-contenders/" class="mega-menu__child-list-item-link // a-unstyle-link pmc-u-padding-l-2 pmc-u-padding-a-1 pmc-u-padding-l-1@desktop pmc-u-padding-tb-025@desktop u-display-block">The Contenders</a> </li> </ul> <ul class="mega-menu__child-list // a-unstyle-list u-background-white@desktop-max u-color-white@desktop pmc-u-padding-t-050@desktop" data-collapsible-panel="" data-collapsible-breakpoint="mobile-only" aria-labelledby="mega-menu-item-more"> <li class="mega-menu__child-list-item // u-border-b-1 u-border-color-grey-medium-light u-border-b-0@desktop pmc-u-font-weight-bold"> <a href="https://web.archive.org/web/20230722034239/https://deadline.com/category/theater/" class="mega-menu__child-list-item-link // a-unstyle-link pmc-u-padding-l-2 pmc-u-padding-a-1 pmc-u-padding-l-1@desktop pmc-u-padding-tb-025@desktop u-display-block">Broadway</a> </li> </ul> <ul class="mega-menu__child-list // a-unstyle-list u-background-white@desktop-max u-color-white@desktop pmc-u-padding-t-050@desktop" data-collapsible-panel="" data-collapsible-breakpoint="mobile-only" aria-labelledby="mega-menu-item-more"> <li class="mega-menu__child-list-item // u-border-b-1 u-border-color-grey-medium-light u-border-b-0@desktop pmc-u-font-weight-bold"> <a href="https://web.archive.org/web/20230722034239/https://deadline.com/category/commentary/" class="mega-menu__child-list-item-link // a-unstyle-link pmc-u-padding-l-2 pmc-u-padding-a-1 pmc-u-padding-l-1@desktop pmc-u-padding-tb-025@desktop u-display-block">Commentary</a> </li> </ul> <ul class="mega-menu__child-list // a-unstyle-list u-background-white@desktop-max u-color-white@desktop pmc-u-padding-t-050@desktop" data-collapsible-panel="" data-collapsible-breakpoint="mobile-only" aria-labelledby="mega-menu-item-more"> <li class="mega-menu__child-list-item // u-border-b-1 u-border-color-grey-medium-light u-border-b-0@desktop pmc-u-font-weight-bold"> <a href="https://web.archive.org/web/20230722034239/https://deadline.com/category/podcast/" class="mega-menu__child-list-item-link // a-unstyle-link pmc-u-padding-l-2 pmc-u-padding-a-1 pmc-u-padding-l-1@desktop pmc-u-padding-tb-025@desktop u-display-block">Podcasts</a> </li> </ul> <ul class="mega-menu__child-list // a-unstyle-list u-background-white@desktop-max u-color-white@desktop pmc-u-padding-t-050@desktop" data-collapsible-panel="" data-collapsible-breakpoint="mobile-only" aria-labelledby="mega-menu-item-more"> <li class="mega-menu__child-list-item // u-border-b-1 u-border-color-grey-medium-light u-border-b-0@desktop pmc-u-font-weight-bold"> <a 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