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Airbnb Inc’s initial public offering (IPO) registration showed on Monday that the home rental startup turned a profit in the third quarter despite the Covid-19 pandemic, as it gears up for one of the most anticipated stock market debuts in recent years, Reuters report.
The filing, published ahead of Airbnb’s anticipated stock market debut in December, showed a dramatic recovery in its fortunes, after the coronavirus outbreak dragged down its core home rental business during the first half of the year.
Movie theatre operator Cinemark Holdings Inc struck a deal that will allow Universal Pictures to offer its movies in US homes as soon as 17 days after they debut in theatres, the companies said on Monday, Reuters reports.
The multi-year agreement is similar to one that Comcast-owned Universal made in July with AMC Entertainment Holdings Inc, the world’s largest theater chain, embracing a major shift from traditional movie release patterns.
Under the arrangement, Universal could offer movies for sale via premium video-on-demand after they have played for at least three weekends in theaters, a statement from the companies said. That would shrink the exclusive window a movie plays in theaters from the roughly 74 days that was typical before the Covid-19 pandemic shut down cinemas.
