Comment on The bosses of the Regal Cinemas owner are set to depart with $35 million after Cineworld emerges from Chapter 11

The bosses of the Regal Cinemas owner are set to depart with $35 million after Cineworld emerges from Chapter 11

A Regal Cinema in Los Angeles.Getty Images The bosses of Cineworld, which owns Regal, will collect $35 million, the Financial Times reported. Cineworld filed for bankruptcy protection last year with debts of $8.8 billion. A source told Insider the payout is intended to help smooth CEO Mooky Greidinger's departure. The bosses of the company that owns Regal Cinemas stand to collect about $35 million despite their empire filing for bankruptcy owing $8.8 billion, a report said.The Financial Times first reported that Cineworld CEO Mooky Greidinger and his management team would receive a payout to smooth their expected departure from the company when it leaves Chapter 11 proceedings in July.UK-based Cineworld bought Regal, the second-biggest US movie theater chain, for $3.6 billion in 2017.

 

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