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Cinemark Buys Century Theatres
posted by
Michael Zoldessy
on
August 8, 2006 at 11:50 am
Another giant merger between two chains will further conglomerate the theater playing field:
The Plano, Texas-based Cinemark USA theater chain is acquiring Century Theatres, based in San Rafael, Calif.
The two circuits announced Tuesday that they have entered into a purchase agreement under which Cinemark will acquire all of the outstanding stock of Century for a combination of cash and stock of Cinemark’s parent company.
For more, read the Full Story in the Hollywood Reporter.
Comments (3)
I heard the rumored purchase price was 1 Billion!
Well I guess that means Century is down the crapper now.
I read where Flagship theaters filed a lawsuit against Century theaters over unfair booking practices. Wonder how that will play out.
I suspect this means three things:
1) The end of quality presentation at Century
2) The end of THX certification for existing and future Century theatres
3) The sale and future demolition of the Century 21-25 theatres in San Jose. :–(
If you’ve ever visited a Cinemark, they’re typical generic mall theatres with no thought given to picture or sound quality.
Then theatre chains wonder why attendence is falling to zero?