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Trans-Lux sells entertainment division
posted by
Michael Zoldessy
on
July 23, 2008 at 10:55 am
The company responsible for a small chain of southwest theaters has sold its entertainment assets.
Trans-Lux Corporation, a leading supplier of programmable electronic information displays and operator of cinemas, announced today that the company has sold its Entertainment division as planned to private equity firm Marwit Capital of Newport Beach, CA effective July 15th. Jesup & Lamont Securities Corporation acted as exclusive financial advisor for the Company in connection with this transaction. It is anticipated that Stephen J. DeGroat, former Chairman and CEO of Jesup & Lamont will continue advising on a non-exclusive basis on certain financial matters to assist in the Company’s future growth plan for the Display Division.
Read the full story at Market Watch.
Comments (3)
Although far less a household name such as AMC or Loew’s, Trans-Lux has actually been a part of the motion picture exhibition business for decades, not only as a theater operator but has been involved in production, equipment and media distribution. It once operated a number of theaters in the northeastern part of the U.S. A company history can be found here:
View link
This is the same Trans-Lux that gave us Felix the Cat, Speed Racer, and The Mighty Hercules tv cartoons.
Its stock price has been cheap as of late.