I am going to keep this simple because it only comes down to four things

Debt

Future Box Office Slate

Film Exhibition Cost

A Scumbag CEO Who Exploits Underage Ballerinas

Before COVID hit they were sort of making a profit and had assets to cover liabilities by a slight margin

That margin tightened in 2019 and by 2020 they were officially in the hole which has grown to $3 billion

They refinanced most of the debt in 2020 and that starts to mature in 2024 and again in 25/26/27 if they make it that far

Now that they have blown through all the postponed COVID blockbusters and a pretty solid 2023 film slate and still have shitty financials it’s over

Plus all the film distributors are dicking them over on box office splits using streaming platforms as leverage

If a movie does better than expected they go back and ask for more money

The 2024/2025 film slate is embarrassing

Forget the Tay Tay revenue

That shit is going to take a hit after the 69 year old CEO was sending dick pics and trying to fuck underage ballerinas

The guy who extorted this idiot is like Chris Hansen and should get all the charges dropped for being a hero catching this sick fuck before he caused more harm

The Board apparently found out yesterday which is bullshit or they just looked the other way instead of doing their jobs

They should have fired him on the spot and then fired themselves

The stock was going to zero before this was disclosed and we just sped up that timeline

Unless Ryan Cohen wants to take a stab at this before they start firing up the bulldozers