So it’s a mess.  This is straight from someone at a high level in the industry:
 
	1.  Theaters hyped that loosened restrictions and the release of Tenet and Ninja Turtles would jump-start the business.  It didn’t, and the studios pushed everything back.
 
	2.  The result of everything getting pushed to next year means a lot (I mean a lot) of screens will close permanently in the US, unless there is a bailout.
 
	3.  Without a lot of screens, studios will release movies overseas (where movies are faring much better) and less so in the US, and move more to streaming
 
	      — the studios were already ready for this.  Think about it — Disney has a streaming platform (and owns 20th Century in addition to its own studios); NBC/Comcast, which now has a streamong platform, owns Universal.  ATT/Warner owns Warner Brothers and New Line. and has a streaming platform through HBO; CBS/Viacom owns Paramount, and has a streaming platform.  That leaves Sony.
 
	4.  The secondary fallout will be large.  Lenders could previously hope for a sale, or a Ch 11 with a sale process, but there won’t be buyers.  The hard assets are worthless.  Oh — and what are landlords going to do with these giant boxes?