November 14, 2016
From The Wall Street Journal: The sleepy movie-theater industry rarely is a player in big-ticket deals. But after working for months to get skeptical investors on board, AMC Entertainment Holdings Inc. appears poised to win shareholder approval for an acquisition that would make it the largest exhibitor in the world.
AMC, which currently is the second-biggest theater chain in the U.S., plans to pay $1.2 billion to acquire Carmike Cinemas Inc., a tie-up that Carmike shareholders are expected to vote on Tuesday. The initial deal, announced in March, was met with investor backlash and forced a delay of the vote.
Meanwhile, AMC Chief Executive Adam Aron is pursuing a second acquisition that would expand the company to Europe. The deal is expected to close by the end of the year.
October 25, 2016
From The Wrap: AMC Entertainment Holdings, the parent company of cinema chain AMC Theatres, announced in a Thursday filing that it would issue $1.4 billion in new debt to finance two billion-dollar acquisitions it has agreed on this year.
In July, AMC — which is owned by Chinese entertainment giant Dalian Wanda Group — agreed to buy British theater chain Odeon & UCI in a deal valued at $1.2 billion. That same month, the board of Carmike Cinemas, the U.S.’ fourth-largest exhibitor, agreed to accept AMC’s second and sweetened offer for $1.2 billion.
The Carmike acquisition would make AMC the country’s biggest theatrical exhibitor, passing current No. 1 Regal Cinemas. Combined, Odeon and Carmike control more than 5,000 screens, and completing both deals would make AMC parent Wanda — which also owns China’s biggest theater chain — the first exhibitor to manage more than 10,000 screens worldwide.
August 29, 2016
Hollywood Reporter: Summer Box-Office Wrap: Why Hollywood’s on Red Alert Despite Near-Record Revenue
From The Hollywood Reporter: The sequelitis virus infected a number of big-budget franchise installments, except for a precious few (think ‘Captain America: Civil War’ and ‘Finding Dory’), while horror also helped save the day and Disney dominated.
Even though there’s still a week to go before the summer season ends on Labor Day, the verdict is in: Box-office revenue in North America should clock in at $4.5 billion, predicts comScore. That’s the second-best showing ever, behind only 2013’s $4.8 billion and up one percent over last year.
So why is Hollywood on red alert? Blame it on the sequelitis virus, which hit the U.S. particularly hard.
On the one hand, moviegoers in the U.S. and across the oceans turned out in force for Marvel Studio’s franchise installment Captain America: Civil War and Pixar’s sequel Finding Dory — they delivered Disney the summer’s two top-grossing films worldwide with $1.52 billion and $929.1 million, respectively. But the same moviegoers largely rejected a number of other big-budget sequels, reboots and remakes. One genre that’s been immune to the disease is horror, helping to deliver a number of solid doubles and triples that boosted the bottom line.
In terms of attendance, 518 million people went to the movies this summer in North America, according to early projections. That’s down roughly 3 percent from last year, but up from a dismal showing in 2014, when 497 million consumers bought tickets. However, the 518 million is behind summer 2013 (585 million) and summer 2012 (539 million).
Heading into summer, no studio executive could have imagined that STX Entertainment’s $20 million Bad Moms, an R-rated comedy that has grossed $95 million to date in North America, or Universal’s $5 million horror sequel The Purge: Anarchy ($79 million) would domestically out-gross the $170 million sequel Alice Through the Looking Glass starring Johnny Depp, which earned just $77 million in North America.
July 12, 2016
From The Wrap:
AMC Theatres announced deal to acquire London-based Odeon & UCI Cinemas Group
China-controlled AMC Entertainment continues its global expansion, announcing plans on Tuesday to acquire Europe’s largest movie theater chain for $1.2 billion.
London-based Odeon & UCI Cinemas Group has been in the hands of Guy Hands’ Terra Firma private equity outfit.
AMC, which is also finalizing its acquisition of Georgia-based U.S. exhibitor Carmike, announced it would pay 75 percent in cash and 25 percent in stock for Odeon. The companies expect to complete the deal by the end of the year. Odeon & UCI oversee 242 theaters and 2,236 screens, selling 90 million tickets annually, according to MarketWatch.
With the acquisitions, AMC’s holdings would include 627 theaters and 7,600-plus screens in eight countries.
“While we acknowledge that there are some uncertainties related to Brexit, we are encouraged that current currency rates are highly favorable to AMC with the pound falling to a three decade low versus the dollar,” AMC CEO Adam Aron said in a statement.
October 20, 2015
Enjoy some wonderful movies from silent film stars like Buster Keaton, Charlie Chaplin, Louise Brooks & Mary Pickford. You can find more great old movies to enjoy free on site like Fandor and Open Culture’s 101 Free Silent Films: The Great Classics including Charlie Chaplin’s two rel parody of Bizet’s Carmen.
July 10, 2015
“If the film is rare, highly flammable, and was made before 1951, there’s a good chance it’ll end up on George Willeman’s desk.”
December 17, 2014
Russian cinema chains are calling on owners of shopping malls where their theaters are located to adjust rental contracts against the backdrop of the weakening ruble, which threatens to drive them out of business.
Several large cinema chains, including Cinema Park, Karo Film, Kinomaks and Formula Kino, have sent an open letter to mall owners, requesting that rental contracts, in which rent is normally stipulated in U.S. dollars, be revised and rent fixed in rubles.
The lion’s share of contemporary Russian film theaters are located in shopping malls. Now that the ruble has fallen off the cliff against the dollar, with the exchange rate plummeting as low as 80 rubles for one U.S. dollar on Tuesday, as opposed to 47 rubles a month ago, theater chains have trouble paying rent as their revenues from ticket sales are all in rubles.
Read entire article online at hollywoodReporter.com.
December 15, 2014
The Commodore Theatre will celebrate 25 years to the day that it re-opened as the restored Commodore Theatre with a new vision of first-run movies and fine dining, the first such cinema-eatery in the country.
The Commodore Theatre was recently named one of the “10 greatest dine-in theaters in America” in a Motion Picture Association of America publication (2014) and one of America’s 7 Best Movie Theaters of Food Lovers,“ in a 2013 issue of Bon Appetit Magazine.
Read the entire article at Hamptonroads.com.
October 31, 2014
A blog post in We Got This Covered touches on the foundation of many members' love for this site, the joy of seeing a movie on the big screen. The brief read is worth your time as it really illuminates not so much the actual theatre but the components of experiencing a film with others. Enjoy!
October 24, 2014
3-D hasn’t been as big of a game changer as many expected so what’s the next big thing? Some are betting on virtual reality technology to succeed with through its immersive effects. Millions is being invested on revolutionizing headsets to transport you to the theater setting of your choice.
Will it catch on or be just another passing fad?
Read more at CNET.