The latest movie theater news and updates
November 20, 2003
AMC Entertainment, whose theaters account for about 12 percent of domestic theater revenue — more than any other chain — is in talks to merge with Loews Cineplex Entertainment, which accounts for 4.6 percent of the market, published reports said today (Wednesday). Spokespersons for each chain declined to comment on the reports. A merger of the companies would face intense regulatory scrutiny inasmuch as the two chains currently closely compete in many large markets and in some cases have theater complexes situated in close proximity to one another.
Here’s a roundup of reports about a possible merger of the country’s most successful mega-circuits:
Variety: AMC, Loews eyeing major screen team (sub. required)
“AMC Entertainment and Loews Cineplex are in talks about a merger with a goal of striking a preliminary agreement by year’s end. agreement by year’s end. A combo of AMC and Loews — the No. 1 and No. 5 U.S. exhibs — would create a mega-circuit of more than 5,600 screens.”
The Hollywood Reporter: Double feature: AMC, Loews talk
“Details about the structure of a possible AMC-Loews union are still murky, in part because Loews' parent company, Toronto-based Onex Corp., and AMC’s majority investor, Apollo Management Lp., have no immediate plans to liquidate their respective stakes in the theater chains, sources said. What is clear is that AMC chief executive Peter Brown would head up the combined entity, though plans for the rest of the two management teams remain uncertain.”
AMC: AMC Entertainment Inc. Confirms Preliminary Discussions
“AMC Entertainment Inc. (AMEX:AEN), one of the world’s leading theatrical exhibition companies, confirmed today that it is engaged in preliminary discussions with Loews Cineplex Entertainment Corporation about a possible business combination.”
National Post (from Canada): Onex in talks with AMC to create movie colossus
“The announcement of talks between the two comes shortly after it was revealed that the initial public offering of Onex’s Canadian movie theatre business will likely raise less money than originally expected. The Cineplex Galaxy Income Fund now is selling 17.5 million units at $10 each, raising about $175-million. That’s down from $235-million in the original prospectus. The trust’s yield also was boosted by about one percentage point.”
Brother Andrew Corsini Fowler, 87, a native Chicagoan who helped found Theatre Historical Society of America in 1969 with Time-Life Editor Ben Hall, of New York, died recently while in convalescent care in Notre Dame, Indiana.
November 19, 2003
Exhibition monthly Film Journal International included Cinema Treasures in its the October 2003 issue. Thanks go to Kevin Lally, Film Journal’s managing editor
Authors Seek Cinema Treasures
Film Journal International’s business/exhibition editor, Andreas Fuchs, has joined forces with Ross Melnick and Patrick Crowley, founders of CinemaTreasures.org, on a book that holds much promise to the exhibition industry. Cinema Treasures combines a survey of 100-plus years of motion picture exhibition history with profiles of theaters around the world. In addition to many classic palaces, which still have to present films today, the book will showcase movie theaters across all major eras (from the 1890s to the 1990s) and architectural styles. There will be single screen theaters, twins, triplexes, large-screen cinemas, multi- and megaplexes.
Many of our readers' theatres have already been included, but the authors invite everyone to submit materials. A nomination form and more information is available online at cinematreasures.org/book/. Feel free to email . Cinema Treasures is due in spring 2004 from MBI Publishing.
Paul Warshauer, the new owner of the Portage Park Theatre, sent in this update about what’s happening at the Portage Park:
“Now the City of Chicago wants us to install an emergency generator to back up the two other systems we spend lots of money to replace. It never ends! The landlord refuses to install it but eventually he will be forced to if the theatre is ever to open. Still we wait and have no revenue coming in…no ticket sales, no concession sales. We cannot last forever here.
November 18, 2003
LOS ANGELES, CA — According to a report from Millimeter, Digital Cinema Initiatives (DCI), the digital cinema joint venture created by Disney, Fox, MGM, Paramount, Sony Pictures Entertainment, Universal and Warner Bros., has released Version 3.0 of its open digital projection standard. The new version includes support for a “4K” projection system (with 4096 by 2160 pixels) that is also backwards-compatible with existing “2K” digital projectors.
EL SEGUNDO, CA — Boeing has announced its looking to exit the digital cinema business and is seeking a buyer for its digital cinema division, according to an article in the Seattle Times. According to a spokesman, the company believes digital cinema will continue to fail “until the industry adopts standards and comes up with the right business model for it.”
SILVER CITY, NM — After a protracted battle with Town officials over the safety of the building, the Gila Theatre was shuttered last summer, perhaps forever.
Town of Silver City building and fire safety officials first cited the owners of the Gila Theatre in the winter of 2001-02, after a complaint by a theatre patron that they had nearly been hit by a piece of falling material from the auditorium ceiling.
November 17, 2003
We’re proud to announce the debut of the newest feature on Cinema Treasures — a link directory!
The Cinema Treasures Link Directory contains over 700 links in 19 different categories, with links for theater websites, chains, architects, and more.
• Keep track of popular links with our automatic hit counter (which counts the number of hits each link has received)
• Add new links instantly with our Add Link tool
• If you’re a registered user, you can makes comments about links
• Report bad links (or other problems) by clicking on ‘report link'
• We’ll be adding a search tool later today!
Please take a moment to add your favorite links and help us make this the best theater links directory on the Web. (Also, if you have any ideas for link categories, feel free to comment below.)
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