Sorry, but not the stories I’ve read. Their income has dropped dramatically.
They’re off pace from last year, which was slightly below the year before. But the point is that even with this probable 2 year drop they’re still looking at a 10 billion dollar year in domestic theatrical, and probably in the 15 to 20 billion range in international theatrical, plus all the other forms of revenue. In the end the big 5 that make up the MPAA are still looking at a solid 40 to 60 billion bucks in revenue, 25 to 30 of that coming from the theaters you think are going away.
Theaters aren’t dying, Hollywood isn’t dying. Some of the studios are carrying around some bad debt from some poor decisions, but they’ve gone through that cycle before, this ain’t the first time MGM had to re-organize, and it won’t be the last.