The new coronavirus pandemic relief bill, which is set to receive a vote Monday, includes $15 billion in grants earmarked for independent movie theaters and live venues for music or stage performances.
The grants will provide much-needed relief to these venues, many of which have seen their business all but vanish as the pandemic canceled concerts and stage plays, while pushing almost all new theatrical releases to 2021.
These particular grants, however, appear to disqualify the three largest players in the domestic movie theater business: AMC, Cinemark and Regal Cinemas owner Cineworld.
The bill stipulates that any eligible venue must have seen its revenue decline by at least 25 percent this year, and there are a number of disqualifiers.