National CineMedia LLC, the largest movie-theater advertisement business in North America, filed for bankruptcy Tuesday after facing years of challenges from reduced attendance at cinemas due to the Covid-19 pandemic coupled with the growing competitive threat posed by streaming.
NCM LLC filed its chapter 11 petition in the U.S. Bankruptcy Court in Houston with a prearranged agreement with lenders to trade roughly $1 billion in debt for full ownership of the business, the main operating entity of publicly traded parent company…
