A bit of a midweek surprise for the exhibition industry: Landmark Theatres has been purchased by the Cohen Media Group from Todd Wagner and Mark Cuban’s Wagner/Cuban Companies. Based out of Los Angeles, Landmark Theatres boasts 252 screens in 27 markets across the United States. Founded in 1974, it has over the decades grown into a premier destination for independent and foreign cinema, with flagship destinations include New York City’s 57 West theatre (pictured).
Cohen Media Group, founded in 2008 by chairman Charles S. Cohen, comes at the independent film marketplace from the production and distribution side. His company’s recent theatrical releases include Claude Lanzmann’s Shoah: Four Sisters and Gauguin: Voyage to Tahiti; they also handle theatrical runs for restorations of classic films.
Says Cohen in a statement, “I have been in the arthouse business for a long time as both a distributor and a producer, and I know better than most, that these films need a special home and require the utmost care. Landmark is that home. I have long admired and respected the way Landmark has built and grown its business from the ground up and I love this area of the business. As the independent market has changed over the years, [Landmark President/CEO] Ted [Mundorff] and the entire Landmark team have done an outstanding job adjusting with the times, anticipating trends and opportunities and new areas for growth and exploration.” Said trends include non-traditional seating, like love seats and couches, and the use of DCP digital projectors, both of which count Landmark among early adopters.
Continues Cohen, “This is a phenomenal fit with our other businesses, and this deal will be welcome news to the filmmakers we do business with or plan to work with in the arthouse arena in the years ahead.”
Mundorff echoes Cohen’s optimism regarding the purchase, noting that the producer is “an avid lover of art and cinema, and this deal to purchase Landmark serves so many of his true passions and interests. By acquiring our chain, he has supercharged and scaled his distribution footprint in the arthouse sector, where he has been a savvy distributor and producer for many, many years. He has also acquired the crown jewel in the arthouse exhibition arena with prime A-list locations and an established loyal base of customers who love our theaters, brand and diverse range of extraordinary, high-quality programming choices throughout the year.”
The terms of the Cohen Media Group acquisition have not been disclosed; per the joint announcement from Mundorff, Cohen, Todd Wagner, and Cuban, Landmark’s current senior management team will be retained.
The post Cohen Media Group Acquires Landmark Theatres appeared first on BoxOffice Pro.
from BoxOffice Pro
0 comments:
Post a Comment