Amazon looking to acquire US-based movie chain Landmark Theatres
17 Agosto, 2018, 11:52 | Author: Gregg Anderson
In the grocery sector, the company has integrated Amazon Prime into its Whole Foods stores, and tried new retail concepts such as its Amazon Go convenience stores, with a cashier-less checkout system.
The Seattle-based juggernaut, which has already produced Oscar-winning films like "Manchester by the Sea" and "The Salesman" through its Amazon Studios arm, is in the running to acquire Landmark Theaters, according to Bloomberg.
With over 50 theaters in locations including NY and LA, the chain, which focuses on independent and foreign films, has been working with investment banker Stephens Inc.to evaluate offers from other interested buyers, claims Bloomberg's anonymous sources.
Landmark, owned by Wagner/Cuban cos., was put up for sale a second time during the owners' history back in April.
"This is probably a move to get broader distribution of film content. Netflix had been discussed as a potential buyer of Landmark for a similar reason", Kulp told the wire service. The streaming giant had looked into purchasing the Landmark Theatres in Los Angeles but decided against any deal as the price was reportedly too high.
The sources cautioned that no final decisions have been made, and said the talks may still fall apart.
Amazon declined to comment.
News of the talks sent cinama chain stocks up, with AMC Theaters - the nation's largest theater chain - climbing 3.7 percent Thursday morning and Cinemark rising 1.8 percent.
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