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The latest movie theater news and updates
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August 11, 2006
IMAX stock plunges
TORONTO, CANADA — With IMAX still not able to find a buyer, the company’s stocks are falling:
Shares of large-screen movie theater company Imax Corp. plunged more than 40 percent early on Thursday, as investors ignored improved earnings and focused on an accounting inquiry by U.S. regulators and the fact that the company still hasn’t found a buyer.
Imax fell $3.96, or 41 percent, to $5.67, on the Nasdaq. In Toronto, the shares dropped C$4.36 to C$6.41. The sell-off was also spurred by analysts who battered the stock with downgrades.
For more, you can read the full story on Reuters-Canada.
(Thanks to Snaperture for the photo.)
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Theater chains looking for new opportunities
More and more, theater chains are scratching their heads, looking for new ways to hook in an ever-abandoning public:
This year’s 4 percent upswing at the domestic box office is more than just a welcome relief to beleaguered movie-theater chains. It is a chance to uncork a bottled-up desire to make deals.
One major transaction, Cinemark USA Inc.’s proposed acquisition of Century Theatres Inc., was struck this week, while a few other theater-related businesses — including No. 2 theater chain AMC Entertainment Inc. — are considering public offerings, analysts and investors say.
For more, read the full story in the Pittsburgh Post-Gazette.
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Studios to ok copying downloads to disc
In a surprising turn of events, there is talk of movie studios endorsing a push for the copying of movie downloads to disc:
Accused often of being anti-consumer when it comes to digital media, the movie industry has plans to relax controls over how films are copied to DVDs.
In the past, watching a movie downloaded off the Web meant viewing it on a PC. Soon, people will be able to copy a digital movie onto a specially made DVD.
For more, visit the full story on ZDNet News.
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August 10, 2006
Des Plaines Theatre restoration at standstill
DES PLAINES, IL — In 2003, when brothers Dhitu and Dharmesh Bhagwakar purchased the Des Plaines Theatre in downtown Des Plaines, from a bank which planned to raze the historic landmark in this Chicago suburb and build a drive-thru bank on the site, there was great relief and optimism for the former movie palace.
The Des Plaines Theatre Preservation Society partnered with the building’s new owners, who allowed the group to hold classic film screenings and special events in the twinned theater, while Bollywood features also were screened at the theater. In return for free rent, the Society did volunteer repair work on the old theater, including restoring the Art Deco marquee, plasterwork, and fixing seats, tiles and the restrooms.
As of around six months ago, the Bhagwakars told the Society it would have to start paying rent to continue using the theater, and when the Society declined to pay rent, its repairs and use of the theater began to end.
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Vintage Box Office Magazine issues
I am looking for a theater historian or someone interested in a large collection of vintage Box Office Magazine issues. I recently acquired them from a relative that used to work at the Belleville Area Cinema and Skyview Drive In in Belleville, IL.
They are in superb condition from the 1960’s. They chronicle the movie and studio news of the times and they have excellent vintage movie advertising in them. I think they would make an excellent collection for a movie historian, vintage movie fan or an individual who owns a restored theater.
They truly are priceless pieces of history and I can’t care for them properly so I hope they find an interested collector.
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New “Preserve Me a Seat” movie review
Although the 3 city world premiere of the new documentary, “Preserve Me a Seat” is almost 2 weeks old, this new review appeared yesterday.
“Preserve Me a Seat” is an independently made documentary about the ongoing struggle to protect and preserve historic movie theatres across the United States and features the efforts to preserve The Indian Hills Cinerama Theatre in Omaha, Nebraska, The Villa Theatre in Salt Lake City, The DuPage Theatre in Lombard, Illinois, and The Gaiety Theatre in Boston, MA.
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Morningside Theater
Dear CT members,
I am looking for any information about a theater named Morningside Theater, located at 2135 Eighth Avenue in Manhattan, New York City. I do know that the theater was there in the early 1910’s through the late 1930’s.
I am in contact with the Great Granddaughter of the owner who has the original New York City permit to operate a Motion Picture Theater. She is looking for any information. Any help would be appreciated.
I can by contacted through this site or emailed at .
Thank you
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August 9, 2006
New Life at the State Theatre
SOUTH BEND, IN — The State Theatre has been purchased and is currently being renovated to become a cultural arts center for concerts, conferences, performances and more.
The new owner, Lester Sumrall, grandson of the late television evangelist Dr. Lester Sumrall is at the forefront of the endeavor. Updates, photos and information can be viewed on the State’s website.
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Upcoming website on moviegoing experience
The significant drop in movie attendance has focused a lot of attention on patrons' dissatisfaction with the moviegoing experience. Bad manners, careless presentation, lackluster theaters, commercials, cell phones and high prices have all been cited as reasons why people are choosing to avoid cinemas and watch movies at home.
Currently under development is a new website for moviegoers to find and post reviews of specific cinemas, which will be rated like restaurants – on their presentation, service, ambience, showmanship, etc. A public forum for feedback can inform fellow moviegoers and give exhibitors more incentive to improve their overall quality.
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Theater screen material wanted
We are in need of screen material for a project we are working on. The size of the material wanted needs to be around 19' x 11' in size. We do not need any of the black mat material that goes around the edges, just the white screen material.
If anyone has this material or knows where we can find a piece in the size requested, please contact us through our email address at: .
Thank you!
Mark Bialek
The Drive-In Exchange, Ltd.