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Disney reportedly set to delay 'Black Widow,' setting up long road for theaters

  • Disney (DIS +0.4%) is likely to postpone upcoming Marvel film Black Widow, Variety reports - a move that would set up a long, cold season for movie theaters.
  • Disney is also exploring moving the release of Pixar adventure Soul to streaming on Disney Plus, as it elected to do with Mulan, according to the report.
  • Black Widow (a film dedicated to the Marvel character, starring Scarlett Johansson) was set to open Nov. 6, its latest date after multiple delays from an original May release plan.
  • There are theaters open (about 70% in the U.S.), and small releases on the schedule. But as for big draws, recent delays mean the next event release is a long way off. The Warner Bros. (NYSE:T) tentpole Tenet made its U.S. debut Labor Day weekend, but has drawn just $29.5M over two weekends domestically after adding $6.7M in its second weekend.
  • Meanwhile, with Wonder Woman 1984 (T) moving to Christmas Day from early October; STX (EROS -2.8%) now moving Gerard Butler thriller Greenland out of September; and Universal (CMCSA +2.9%) delaying Candyman into 2021; the next major release doesn't arrive until Nov. 20, with James Bond film No Time To Die (OTC:MGMB) - and it's an open question whether that film makes its date.
  • Today among exhibition stocks: AMC +1.6%; Cinemark (NYSE:CNK) +3.4%; IMAX +2.9%; Marcus (NYSE:MCS) +1.9%; Reading International (NASDAQ:RDI) -2%; National CineMedia (NASDAQ:NCMI) -1.1%. Regal owner Cineworld (OTC:CNWGY) fell 1.9% in London.

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