TCL Chinese Theatre

6925 Hollywood Boulevard,
Los Angeles, CA 90028

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segask
segask on August 23, 2009 at 9:01 pm

“What if a potential buyer wants the main theatreonly but not the 6-plex? I assume it would it would be an "all or nothing” package deal.“ — Rich37

I think only Grauman’s movie palace is for sale here. I don’t think Mann owns the six-plex. I think they lease that space from the owner of Hollywood & Highland (CIM).

I believe CIM owns the Hollywood & Highland retail space and also the land underneath. They also own the land underneath Grauman’s Chinese. Mann owns the actual theater. In 14 years the 99 year land lease that Sid Grauman obtained when he built the theater will run out and the landowner, CIM, will become owner of the theater.

segask
segask on August 23, 2009 at 8:53 pm

^
it would be the ultimate in prestige. I bet they probably made an offer to Mann way back in the late ‘80’s/early'90’s before settling for the El Capitan across the street.

DonSolosan
DonSolosan on August 23, 2009 at 1:32 pm

Something else to consider about Disney and the El Capitan: they’ve spent so much money restoring the place that even though it’s wildly successful, it is not profitable for them. They do it for the prestige. So what would taking over the Chinese do for them exactly?

richjr37
richjr37 on August 23, 2009 at 12:53 pm

So the prestige pictures from Disney would go to the El Capitan while the Chinese gets the scraps? unlikey!

Here’s a thought. What if a potential buyer wants the main theatreonly but not the 6-plex? I assume it would it would be an “all or nothing” package deal. But,in this particular scenario,who would/should get what? Or does that just ask for another Hollywood Galaxy disaster?

moviebuff82
moviebuff82 on August 23, 2009 at 10:41 am

I hope AMC or Regal doesn’t buy it, since they screw up classic theaters.

William
William on August 23, 2009 at 5:25 am

They would have to redo the whole stage area.

KingBiscuits
KingBiscuits on August 23, 2009 at 3:27 am

I think Disney has enough quality films to play at two different theatres. While Up and G-Force get the El Capitan, films like The Proposal and Ponyo along with films from a few other studios (such as DreamWorks, Paramount and Sony, mainly studios that have had or will have alliances with Disney) could play on the theatre’s seven screens.

DonSolosan
DonSolosan on August 22, 2009 at 12:10 am

Why would Disney want it? They have the El Capitan across the street. Do they have enough quality films to fill two palaces simultaneously?

segask
segask on August 21, 2009 at 10:00 pm

what about Disney? Didn’t they build a full scale replica of the Chinese at one of their theme parks in Florida?

BradE41
BradE41 on August 21, 2009 at 9:41 am

I’m not sure a major studio would bite. They have 2 already that do not want it. I still think a major chain could have interest just for the prestige factor. Unlike the Village and Bruin, the Chinese is considered Iconic.

KingBiscuits
KingBiscuits on August 20, 2009 at 4:09 pm

I know that Chris, but they seem to book the same movies in both. Fast and Furious had four prints playing in the seven auditoriums for a month.

Dublinboyo
Dublinboyo on August 20, 2009 at 11:59 am

American Cinemateque does not have deep pockets and I doubt they would take on the Chinese even if they had the funds. Cinemateque survives primarily on membership and donations and the staff is comprised mostly of volunteers for it’s screening and events. The $10 admission is a bargain as it allows you 2 films in the original format and the best extant print available along with guest speakers who discuss aspects of the film on any given night. I doubt that $10 per head goes a long way in covering their overhead, so I really don’t think that Cinemateque is a player in taking over the Chinese. They have their hands full with the Aero and the Egyptian and God bless them for it.

Chris Utley
Chris Utley on August 20, 2009 at 8:12 am

D-Box is equipped for Chinese 6 – not Grauman’s Chinese.

KingBiscuits
KingBiscuits on August 20, 2009 at 1:11 am

I expect a non-profit or a film fan with deep pockets to buy the theatre. A major studio with a deep library (such as Sony) is another guess.

In other news, it looks like that The Final Destination could play here on August 28th. It is the first film in history to combine REAL-D 3-D with the D-Box motion format.

DonSolosan
DonSolosan on August 19, 2009 at 9:18 pm

They’re also running the Aero in Santa Monica…

HowardBHaas
HowardBHaas on August 19, 2009 at 6:22 pm

Different using the 600 seat Egyptian main auditorium and the smaller auditorium for classics and filling up huge Chinese and the 6 plex. American Cinemateque can’t operate the Chinese.

William
William on August 19, 2009 at 5:36 pm

Didn’t the American Cinemateque get the theatre from the city of LA for like a dollar. But they had to pay to restore it.

BradE41
BradE41 on August 19, 2009 at 5:21 pm

It will be interesting to see who bids for this theatre. Does American Cinemateque have deep pockets? They operate Grauman’s Egyptian. How ironic would it be if they operated Grauman’s Chinese also. They could used the Chinese 6 for “Retro” screenings and perhaps book Hollywood blockbusters at the Egyptian once in a while.

CTCrouch
CTCrouch on August 16, 2009 at 3:37 am

I would be surprised if a “name” chain buys the theatre. Hefty purcase price, fourteen year operating limit (unless the landlord agrees to what would likely be a very expensive extension), difficult to book competitively, challenging to operate, etc.; the Chinese just doesn’t fit with the modern business model most chains follow. I would imagine a private entrepreneur(s) or party working in a joint venture with CIM would be more likely candidates.

richjr37
richjr37 on August 14, 2009 at 4:43 pm

It occured to me that someone here mentioned Kerasoltes as a possible owner/operator. Didn’t they take over a Chinese Theatre complex in Colorado that was opened by Mann in the ‘70s?

That’d be quite a coup,i think.

richjr37
richjr37 on August 13, 2009 at 11:48 pm

Disney owns all things ABC. Somehow,i don’t see Pacific picking this one up since they’d probably use it as a moveover theatre for whatever’s playing at the Dome/Archlight or vice versa.

Century,Cinemark,Carmike(which would enter the SoCal market with this one and the Westwood screens)even the dreaded monoliths AMC & Regal would have a better chance. Or it could go indie like the Majestic Crest did.

segask
segask on August 13, 2009 at 9:19 pm

is it abc that owns disney, or disney that owns abc? I forget. Maybe abc could buy graumans, then disney leases it from them just like they are leasing the el capitan right across the street. Probably only disney/touchstone movies would play there, but at least Graumans would still be a first run movie palace.

segask
segask on August 13, 2009 at 9:19 pm

if anyone but arclight buys the chinese, they will have the same problem mann has had – trying to compete against the 15 screen arclight with only half as many screens at hollywood and highland. For that reason I hope arclight gets it. That way everything except disney/touchstone (which always plays at the el capitan across the street) will be able to play at Graumans.

KJB2012
KJB2012 on August 12, 2009 at 5:54 pm

The trouble is that Hollywood studios forgot, a long time ago, that they are in the “Show Biz”. Well except for Disney.
Off the top of my head, I don’t have a biz plan for Chinese right now. But I think it is safe to say, “if you can’t make it at the World’s Most Famous Theatre”, then maybe you should run a Burger King!

William
William on August 11, 2009 at 10:16 am

Well remember Mann Theatres owns the building for only 14 more years, when their 99 year ground lease expires. CIM owns the land. So the ground lease expires in 2023.