Cinemark to Temporarily Close U.S. Theatres

PLANO, Texas–(BUSINESS WIRE)– Cinemark Holdings Inc. (NYSE:CNK) is temporarily closing all 345 of its U.S. theatres effective March 18, 2020 as a proactive measure in support of the health and safety of its employees, guests and communities.

“Through these absolutely unprecedented and evolving times, one thing will not change, and that is Cinemark’s dedication to its team members and moviegoers,” said Mark Zoradi, Cinemark CEO. “The decision to close our U.S. theatres was incredibly tough, but we know it is the right thing to do as global Coronavirus concerns continue to escalate. We will closely monitor recommendations of national and local governmental health organizations and look forward to inviting everyone to once again enjoy experiencing the movies with Cinemark.”

In an effort to give moviegoers more time to redeem the rewards they earned, the Company has added additional flexibility to its Cinemark Movie Rewards program and is extending expiration of Cinemark Movie Rewards points to June 30, 2020. As guests are not able to utilize the many benefits of Cinemark’s subscription service, Movie Club, during this time theatres are closed, Cinemark is temporarily pausing all Movie Club memberships. While paused, members will maintain unused movie credits and will not be billed the monthly membership fee. Movie credits earned through Movie Club roll over and never expire for active members, even while an account is paused.