National CineMedia Starts Debt Talks With Cineworld Deal At Risk

Lenders to cash-strapped National CineMedia Inc. have signed non-disclosure agreements to begin debt restructuring talks as the movie theater advertiser seeks to salvage a deal with bankrupt Cineworld Plc.

The debt talks may become a key component of contract negotiations between Cineworld and its long-time advertiser, as the future of that contract hinges on National CineMedia cutting its debt, according to people with knowledge of the matter, who asked not to be identified because the talks are private.

Maintaining its relationship with Cineworld’s Regal chain is central to National CineMedia’s survival, and the advertiser has tried to block Cineworld …