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'Fast & Furious 9' Release Delayed By A Year Due To Coronavirus, Comcast Other Businesses Also Hit

Comcast Corporation (NASDAQ: CMCSA) owned Universal Studios’ ”Fast & Furious” franchise’s latest movie is delayed by a year due to the coronavirus pandemic.

Benzinga · 03/13/2020 06:42

Comcast Corporation (NASDAQ: CMCSA) owned Universal Studios’ ”Fast & Furious” franchise’s latest movie is delayed by a year due to the coronavirus pandemic.

What Happened

Fast & Furious 9 due for release May 22, will no longer be screening in theaters on that day. The franchise explained on Twitter “It’s become clear that it won’t be possible for all our fans around the world to see the film this May,” The statement continued, “We are moving the global release date to April 2021, with North America opening on April 2.”

Fast 9 isn’t the only movie delayed due to the pandemic. The James Bond series’ next release “No Time To Die,” has also had its release pushed back from April to November 2020. The movie made by MGM and Universal will now be released on November 25 in the US and November 12 in the UK.

Why It Matters

The previous two Fast & Furious movies raked in more than $1 billion globally with China one of the largest markets at $400 million, but the country’s 70,000 theatres have been shuttered since January, leading to box office losses of $2 billion in the first two months of 2020, reported Business Insider.

Coronavirus is having a  massive impact on international events, with many canceled, particularly those related to entertainment. COVID-19 has also hit Universal’s theme parks. The Universal Orlando Resort is closed until March 15. Rival Walt Disney Co.’s theme parks have also been shut down until the end of March.

Price Action

Comcast shares traded 0.69% lower at $34.70 on Thursday in the after hours session. The shares had closed the regular session 7.83% lower at $34.94.