National CineMedia slumps after filing for bankruptcy

National CineMedia

12/04/2023 10:19

** Shares of National CineMedia Inc  NCMI.O  slump 21.1% to
16 cents premarket
    ** North America's biggest cinema advertising firm says it
filed for Chapter 11 bankruptcy protection and restructuring
agreement with lenders
    ** All of company's debt will be converted to equity, as per
the restructuring agreement - NCMI
    ** Company says advertising business to remain functional
    ** Up to last close, stock down 6.3% YTD

 (Reporting by Johann M Cherian in Bengaluru)
 ((johann.mcherian@thomsonreuters.com;))