TheShadowLord
Member
I would not be surprised if Disney starts doing the same thing in the future
https://www.bloomberg.com/news/arti...be-in-running-to-acquire-landmark-movie-chain
Amazon.com Inc. is in the running to acquire Landmark Theaters, a move that would vault the e-commerce giant into the brick-and-mortar cinema industry, according to people familiar with the situation.
The company is vying with other suitors to acquire the business from Wagner/Cuban Cos., which is backed by billionaire Mark Cuban and Todd Wagner, according to the people, who asked not to be identified because the discussions are private. The chain’s owners have been working with investment banker Stephens Inc. on a possible sale, the people said. No final decisions have been made, and talks could still fall apart.
Pushing into movie theaters would follow Amazon’s expansion into myriad other forms of media, including a film and TV studio and music service. With Landmark, it gets a chain focused on independent and foreign films with more than 50 theaters in 27 markets, including high-profile locations in New York, Philadelphia, Chicago, Los Angeles and San Francisco.
Landmark’s theaters are known for art-house fare, and some high-end locations include coffee bars or lounges, setting them apart from the typical movie experience.
“This is probably a move to get broader distribution of film content,” said Leo Kulp, an analyst with RBC Capital Markets LLC. “Netflix had been discussed as a potential buyer of Landmark for a similar reason.”
Amazon and Landmark declined to comment.
The possible move was viewed positively by investors, who saw it as a sign that Amazon wasn’t looking to disrupt moviegoing and was supportive of the theatrical experience, Kulp said. After initially being down, shares of AMC Entertainment Holdings Inc. and Cinemark Holdings Inc. climbed on Thursday. AMC, the market leader, rose as much as 4.2 percent, reaching its highest point in the past year.
Cozying Up
Amazon’s move into Hollywood has broadly been welcomed by theaters and studios. Its studio has presented its slate of movies at CinemaCon, the annual convention for national theater operators, unlike Netflix Inc. Amazon struck a deal with Sony Pictures where it offered its Prime members the opportunity to see movies like “Jumanji” and “Hotel Transylvania 3” two weeks before release at about 1,000 theaters.
Though the acquisition price for Landmark would likely be small, it would mark a significant new incursion by Seattle-based Amazon into the physical world. The online retailer shocked the supermarket industry last year by acquiring Whole Foods for $13.7 billion, positioning the organic-food chain in the middle of its campaign to sell more groceries.
https://www.bloomberg.com/news/arti...be-in-running-to-acquire-landmark-movie-chain
Amazon.com Inc. is in the running to acquire Landmark Theaters, a move that would vault the e-commerce giant into the brick-and-mortar cinema industry, according to people familiar with the situation.
The company is vying with other suitors to acquire the business from Wagner/Cuban Cos., which is backed by billionaire Mark Cuban and Todd Wagner, according to the people, who asked not to be identified because the discussions are private. The chain’s owners have been working with investment banker Stephens Inc. on a possible sale, the people said. No final decisions have been made, and talks could still fall apart.
Pushing into movie theaters would follow Amazon’s expansion into myriad other forms of media, including a film and TV studio and music service. With Landmark, it gets a chain focused on independent and foreign films with more than 50 theaters in 27 markets, including high-profile locations in New York, Philadelphia, Chicago, Los Angeles and San Francisco.
Landmark’s theaters are known for art-house fare, and some high-end locations include coffee bars or lounges, setting them apart from the typical movie experience.
“This is probably a move to get broader distribution of film content,” said Leo Kulp, an analyst with RBC Capital Markets LLC. “Netflix had been discussed as a potential buyer of Landmark for a similar reason.”
Amazon and Landmark declined to comment.
The possible move was viewed positively by investors, who saw it as a sign that Amazon wasn’t looking to disrupt moviegoing and was supportive of the theatrical experience, Kulp said. After initially being down, shares of AMC Entertainment Holdings Inc. and Cinemark Holdings Inc. climbed on Thursday. AMC, the market leader, rose as much as 4.2 percent, reaching its highest point in the past year.
Cozying Up
Amazon’s move into Hollywood has broadly been welcomed by theaters and studios. Its studio has presented its slate of movies at CinemaCon, the annual convention for national theater operators, unlike Netflix Inc. Amazon struck a deal with Sony Pictures where it offered its Prime members the opportunity to see movies like “Jumanji” and “Hotel Transylvania 3” two weeks before release at about 1,000 theaters.
Though the acquisition price for Landmark would likely be small, it would mark a significant new incursion by Seattle-based Amazon into the physical world. The online retailer shocked the supermarket industry last year by acquiring Whole Foods for $13.7 billion, positioning the organic-food chain in the middle of its campaign to sell more groceries.
