Byron Allen Kicking Tires Of Landmark Theatres Circuit – CinemaCon
“We are pursuing the acquisition of numerous companies that have excellent management and brands in distribution, content, cable networks and technology. Yes, we are looking at all opportunities including the Landmark Theatres” Allen tells Deadline.
News broke yesterday that Netflix was looking at the chain at one point, however, we understand those talks (which occurred quite a while ago) never went beyond a lunch to literally looking at the books. In the case of Entertainment Studios, this is a scenario where theyre reportedly looking at Landmarks books. No word of talks yet.
Should Allen acquire Landmark, it would add a keen distribution arm to his media empire which includes his theatrical feature division Entertainment Studios, Freestyle Releasing (which also does day and date releases), The Weather Channel (which he purchased at an estimated $300M back in March), as well as seven 24-hour HD television networks: JusticeCentral.TV, Pets.TV, Comedy.TV, Recipe.TV, Cars.TV, ES.TV, and MyDestination.TV. Entertainment Studios is also the largest independent producer of first-run syndicated programming.
Landmark Theatres spans 53 venues and 255 screens, many locations of which are comprised of leases. Seven years ago when Wagner/Cuban companies put the chain up for sale they were seeking an estimated $200M.
When reached, Wagner/Cuban companies provided no comment.
Allen and Entertainment Studios will have their first presentation at CinemaCon next Wednesday. Entertainment Studios 47 Meters Down and Hostiles have respectively grossed $44.3M and $29.8M.