March 21, 2008
According to this article in the St. Louis Business Journal, the 102-year-old Wehrenberg Theatre operation, the oldest family-owned theater chain in the United States, is being withdrawn from the market as available for sale. Apparently, no acceptable offers appeared to be forthcoming in the current economic climate.
As reported first in the St. Louis Business Journal in December, Wehrenberg, the country’s oldest family-owned and operated theater chain, was looking for a buyer for its 102-year-old theater operations. The company hired UBS Investment Bank to lead the search, but potential buyers were unable to make an offer that reflected the full value of Wehrenberg, Krueger said in a statement.
“I concluded the best action for our company is to be proactive to determine our own future,” Krueger said in a statement.
March 20, 2008
The Florida Times-Union named Cinema Treasures one of the best bets on the web.
March 17, 2008
With the consumer moving more and more to the internet for information, Regal might end newspaper listings for its theaters.
U.S. movie theater company Regal Entertainment Group is seeing diminishing returns from the millions of dollars it spends on movie listings in newspapers as people turn to the Internet for the information, Chief Executive Officer Michael Campbell said.
Theaters pay for listing their schedules in newspaper entertainment sections, but the largest U.S. theater chain has begun questioning the value.
Read the full story at Reuters.
March 14, 2008
There are arrangements to convert 10,000 more screens to 3-D.
Access Integrated Technologies Inc. said it had reached agreements with four studios — Disney, News Corp.’s 20th Century Fox, Viacom Inc.’s Paramount, and Universal Pictures, which is owned by General Electric Co.’s NBC Universal — to finance and equip the screens in the U.S. and Canada during the next three years.
The conversion will cost as much as $700 million, said Bud Mayo, chief executive of Access Integrated Technologies, which completed a first tranche of 3,700 digital conversions in October
For the full story, go to The Star.
(Thanks to zombophoto for providing the picture.)
March 13, 2008
An Associated Press piece suggests that there’s a correlation with a poor economy and high moviegoing numbers.
It was true during the Depression, when Americans managed to scrape together nickels and dimes for an escape to the movies. And as the prospect of another recession looms, studio executives say this time is no different.
Even as evidence mounts that people are tightening up on other expenses, movie attendance this year has been running ahead of 2007 numbers — welcome news at ShoWest, the annual convention of theater owners, which opens here Tuesday.
Domestic box-office revenues went up in five of the past seven recession years dating back to the 1960s, according to research compiled by the National Association of Theatre Owners.
March 7, 2008
Following in the steps of the Metropolitan Opera, the San Francisco Opera is presenting a program to theaters across the country.
SAN FRANCISCO Opera’s production of Puccini’s “La Rondine,” starring the gorgeous soprano Angela Gheorghiu, was a pretty big hit at War Memorial last November, but they’re wondering now how it will play in Peoria.
We’ll get a chance to find out Saturday afternoon when the Rave Grand Prairie 18 theater in Peoria, Ill. “” along with 120 movie theaters across the nation “” launches the first of four showings of the opera in an all-digital format with surround sound that is the very latest in cinema technology.
Here in the Bay Area, the closest showings are at the Livermore Cinemas 13 (which bills itself on its Web site as “the only all digital movie theater in the entire East Bay”) and the Cinema West-Fairfax in the North Bay. The Livermore showings are at 12:30 and 7 p.m. Saturday, 2:30 p.m. Sunday and 7:15 p.m. Monday, and regular ticket prices ($9.50, $7 for matinees) apply.
Read more at Contra Costa Times.
February 29, 2008
In what has been an ongoing trend these days, the Oscar telecast last weekend was the lowest rated ever. With no huge studio pictures up for the majors and a slew of little-known actors up as favorites in key categories, it was the perfect recipe for average moviegoer dissent.
Films about psychopaths, greedy oilmen and corrupt lawyers failed to click with moviegoers, and they proved a turnoff to U.S. television viewers as this year’s Oscars show hit record low ratings.
The 80th anniversary edition of the Academy Awards, dominated by European stars and films that played poorly at the box office, averaged 32 million viewers, entering the record books on Monday as the least watched Oscar telecast ever.
Read more in the Washington Post.
(Thanks to Grebo Guru for providing the photo.)
February 28, 2008 — Tim McGlynn’s, “Now Playing at Theater Near Me,” is a fantastic and tickling book that presents insights into teen culture during the seventies.
In 1975 the making of an 8mm movie turned disastrous for seventeen-year-old Tim McGlynn and friends. It was a Dog Day afternoon for the young autuers as local cops responded to a staged bank robbery. “Now Playing at a Theater Near Me” combines true-life coming-of-age antics with backstories and personal recollections of films and theaters of the seventies.
Today, teenagers cannot imagine life without DVDs, wireless phones, and the Internet. In Tim McGlynn’s new book, “Now Playing at a Theater Near Me,” readers are taken back thirty years when most entertainment was experienced at local drive-ins and single screen theaters.
Before information was easily accessible from home, America’s youth learned about life, sex and growing old at the movies. “Now Playing at a Theater Near Me” presents hilarious insights into the early seventies. Even movies could not keep up with the rapidly changing cultural issues of the time.
February 25, 2008
LONDON, ENGLAND — In a mysterious move, Odeon has said it won’t show the new Rambo movie.
Odeon, the U.K.’s biggest exhib chain, will not show Sony’s new release “Rambo” at its theaters this weekend, citing undisclosed “commercial reasons.”
News has sent shockwaves around the local industry as “Rambo” is the frame’s most significant new release in the U.K. News has also enraged online Sylvester Stallone fans, especially those who live in rural areas where their only local cinema is an Odeon.
Decision by Odeon not to play the testosterone-fuelled pic will likely see its opening U.K. B.O. haul dented considerably even though Sony has spent much of this week scrambling to get other chains, including other market leaders Vue and Cineworld, to pump up their “Rambo” showings.
Read the full story in Variety.
February 20, 2008
During a visit to my old home here in Hawaii I came across the news that Pacific theatres has sold its theatre holdings, outside the L.A. area. The theatres in Hawaii and California contain 181 screens with annual revenue of approximately $81 million.
In a filing with the Securities and Exchange Commission yesterday, Reading International Inc., which largely operates cinemas in Australia and New Zealand, said the price for the Consolidated theaters was reduced from $72 million.
I wonder if any of our friends in California might comment on any news they have concerning this sale and how it might affect the theatres there.
Unfortunately, there is not much to report from here in Hawaii since all the great theatres are gone.
Pacific Theatres is selling its Rohnert Park movie multiplex to a Southern California film exhibitor, part of a $69.3 million deal for 15 of its 29 theaters in California and Hawaii.
“As is company policy, we cannot comment on any deal until it is finalized,” said Suzanne Goldstyn, a spokeswoman for Los Angeles-based Pacific Theatres.
The theater and real estate development company announced plans last year to sell its cinema properties outside the greater Los Angeles area.
Read the full story at the Press Democrat.