Yahoo Movies Is Amazon A Contender For Landmark Theatres?
EXCLUSIVE: A report surfaced last night that Amazon is in the running to acquire the Landmark arthouse movie chain. We hear from various sources on good authority that Amazon isn’t in the running nor are they even in the final rounds for Landmark.
Landmark, owned by Wagner/Cuban cos., was put up for sale a second time during the owners’ history back in April.
For 53 venues and 255 screens across the nation, the going price for Landmark, we understand, is around an estimated $175M. The Landmark boasts such platinum properties as the exhibitor’s new 57 West locale, The Landmark on Pico in Los Angeles, Boston’s Kendall Square, the Atlantic Plumbing Cinema in Washington D.C., and Merrick Park in Miami. The chain’s venues are a mix of leases and some owned brick-and-mortar.
Bloomberg first reported that Amazon was in the running to acquire Landmark and that the chain has been working with investment banker Stephens Inc on the sale.
At one point Deadline heard that Entertainment Studios, Netflix, and even Reading Cinemas were looking at Landmark, but some believe the exhibitor isn’t likely to land with any of these companies. Netflix is reportedly figuring out how to get some of their awards season feature fare like Alfonso Cuaron’s Roma and Paul Greengrass’s 22 July on the big screen, and we understand that doesn’t necessarily involve the streaming company buying a theater chain.
Landmark, Amazon and Stephens provided no comment when reached.
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