British movie theater operator Cineworld said that it is in talks to buy U.S. peer Regal Entertainment for around $3.6 billion in cash, or $23 per share (26% premium over yesterday's closing price). No final agreement has been signed.

  • Why it matters: A merger would create the world's second-largest movie theater chain by number of screens, behind Dalian Wanda's AMC.
  • Bottom line: "Regal and fellow U.S. theater chains are under pressure as movie attendance has stagnated and many films this year have failed to meet expectations at the box office. The summer season -- usually the most lucrative for the industry -- was the worst since 2006." — Bloomberg

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Updated 11 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 10:30 a.m. ET: 30,217,420 — Total deaths: 946,847— Total recoveries: 20,554,349Map.
  2. U.S.: Total confirmed cases as of 10:30 a.m. ET: 6,677,516 — Total deaths: 197,682 — Total recoveries: 2,540,334 — Total tests: 91,546,598Map.
  3. Politics: Trump vs. his own administration on virus response.
  4. Health: Massive USPS face mask operation called off The risks of moving too fast on a vaccine.
  5. Business: Unemployment drop-off reverses course 1 million mortgage-holders fall through safety netHow the pandemic has deepened Boeing's 737 MAX crunch.
  6. Education: At least 42% of school employees are vulnerable.
Dan Primack, author of Pro Rata
16 mins ago - Economy & Business

U.S. nutritional supplements retailer takes first step to sell to China’s Harbin Pharma

Illustration: Sarah Grillo/Axios

GNC Holdings, the Pittsburgh-based nutritional supplements retailer, received bankruptcy court approval to sell itself to China’s Harbin Pharma for $770 million, although the deal still faces U.S. political pressures over how GNC customer data is protected.

Why it matters: It's a reminder that the U.S.-China merger mess goes well beyond smartphone apps, with Sen. Marco Rubio asking for a CFIUS review.

Ben Geman, author of Generate
1 hour ago - Energy & Environment

Tallying Trump's climate changes

Reproduced from Rhodium Climate Service; Chart: Axios Visuals

The Trump administration's scuttling or weakening of key Obama-era climate policies could together add 1.8 gigatons of carbon dioxide equivalent to the atmosphere by 2035, a Rhodium Group analysis concludes.

Why it matters: The 1.8 gigatons is "more than the combined energy emissions of Germany, Britain and Canada in one year," per the New York Times, which first reported on the study.