Movie theater owners need help too, request $1 million bailout to keep industry afloat
The National Association of Theater Owners is asking the federal government relief measures for its 150,000 movie theater workers.The executive board of NATO has already authorized $1 million to be drawn from its own reserve in order to aid movie theater employees who are out of work because of the closures.
"The business model of the movie theater industry is uniquely vulnerable in the present crisis," NATO wrote in a statement Wednesday.The trade group represents more than 33,000 screens in 50 states and has asked the federal government for loan guarantees to help the industry through a time when moviegoers are not able to travel to theaters. The association has also asked for tax benefits to assist theater owners who are still paying their employees and to make up for their losses.
The executive board of NATO has already authorized $1 million to be drawn from its own reserve in order to aid movie theater employees who are out of work because of the closures.
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