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zingy
College Boy Z
Joined: Mon Oct 11, 2004 8:40 pm
Posts: 36662
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 AMC and Loews Cineplex To Merge Quote: AMC and Loews Cineplex To Merge
The consolidation of the motion picture exhibition industry squeezed tighter Tuesday as AMC Entertainment and Loews Cineplex agreed to merge. If approved, the merger would give the new company, which will retain the AMC name, 13 percent of the nation's movie screens. Only Regal Entertainment, with 17 percent, is bigger, but many of its theaters are located in rural areas; the merged company would therefore account for the largest slice of the box-office pie. Analysts noted that since most of AMC's theaters are on the West Coast and Loews's are in the East, there will be little if any overlap of theater outlets. However, today's (Wednesday) Boston Globe pointed out that the merger would leave Boston "pretty much a one-movie theater-chain town." It quoted Perry Lowe, a professor of marketing at Bentley College in Waltham and a former theater operator himself, as saying, "'They may almost be monopolistic in the Boston market." Today's Los Angeles Times pointed out that both chains are controlled by venture capitalists, Regal by billionaire Philip Anschutz, and AMC/Loews by J.P. Morgan Partners, Apollo Management, Bain Capital, the Carlyle Group, and Spectrum Equity Investors. Paul del Rossi, former CEO of General Cinemas, which was recently acquired by AMC, told the Times: "I think the exhibition business is at a crossroads. ... The major players in the exhibition business are now controlled by venture capitalists, and they have different long-term views than traditional theater owners."
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| Thu Jun 23, 2005 12:58 pm |
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Libs
Sbil
Joined: Tue Oct 12, 2004 3:38 pm
Posts: 48678
Location: Arlington, VA
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Interesting. I love the AMC theater near me but I actually like Loews a little more, I find those theaters a tad more comfortable.
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| Thu Jun 23, 2005 12:59 pm |
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torrino
College Boy T
Joined: Mon Oct 11, 2004 7:52 pm
Posts: 16020
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I was wondering when someone would post this.
It was a front pager yesterday (well, in the Business section).
I think I read that even after the merge, Regal would still be bigger.
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| Thu Jun 23, 2005 1:01 pm |
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zingy
College Boy Z
Joined: Mon Oct 11, 2004 8:40 pm
Posts: 36662
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I've actually never been to a Loews theater. It's always AMC, and occasionally, Regal (rip-off chain, by the way).
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| Thu Jun 23, 2005 1:01 pm |
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torrino
College Boy T
Joined: Mon Oct 11, 2004 7:52 pm
Posts: 16020
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I actually go to AMC the least, even though they dominate the DC area...
There's a Regal near my school and there's a 20 screener (Consolidated Theaters. Whatever that is...  ) two miles away from home. I go to a Landmark theater for my indie fix.
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| Thu Jun 23, 2005 1:05 pm |
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Rev
Romosexual!
Joined: Tue Oct 19, 2004 3:06 am
Posts: 32607
Location: the last free city
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soon all theaters will be owned by one giant company.
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My Fav theaters in order:
Cinemark (including IMAX)
AMC
United Artist
Lowes
i usually go to AMC one alot cause it's closer but for big movies i try my best to see it at Cinemark.
i still haven't been to a drive-in theater V_V yet.
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| Thu Jun 23, 2005 1:09 pm |
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Erendis
Indiana Jones IV
Joined: Thu Oct 28, 2004 9:40 am
Posts: 1527
Location: Emyn Arnen
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In the business world, lots of company mergers and buyouts is a sign that business is leveling off. (Witness the airline industry and the cell phone industry.) If profits aren't healthy enough to keep competition going, companies will merge so that they can eliminate the overlap in administrative costs. I guess that half billion loss in BO revenue last year is starting to show.
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| Thu Jun 23, 2005 1:23 pm |
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Anonymous
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torrino wrote: I was wondering when someone would post this.
It was a front pager yesterday (well, in the Business section).
I think I read that even after the merge, Regal would still be bigger. When I created a thread about a theater merger last time, no one replied. I opted out this time. :razz:
I love AMC and Loews Cineplex equally.
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| Thu Jun 23, 2005 1:25 pm |
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Jiffy
Forum General
Joined: Sat Dec 18, 2004 2:27 pm
Posts: 6152
Location: New York
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I absolutely adore Showcase cinemas, nothing compares.
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| Thu Jun 23, 2005 2:28 pm |
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tina_als_girl
Cream of the Crop
Joined: Sun May 15, 2005 3:43 pm
Posts: 2252
Location: Wellsville, MO
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Here in KC, we've only got one Regal and one Cinemark. No Loews. The most theaters we have of a chain is AMC, which makes sense considering they're headquartered here. The second largest chain in KC is Dickinson Theaters.
Been to the Cinemark once; didn't find the actual auditorium anything worth talking about, but the lobby and hallways were brilliant (of course it's in downtown KC, so it's very fancy and stuff).
Never been to the Regal.
Joy
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| Thu Jun 23, 2005 2:43 pm |
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Groucho
Extraordinary
Joined: Thu Oct 21, 2004 9:30 pm
Posts: 12096
Location: Stroudsburg, PA
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In Times Square, the two are located across the street from each other, each with huge screens. I wonder if they will shut one of them down now.
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| Thu Jun 23, 2005 7:08 pm |
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Christian
Team Kris
Joined: Thu Oct 28, 2004 5:02 pm
Posts: 27584
Location: The Damage Control Table
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YAY I love Loews... too bad I don't work for AMC anymore. I've heard about the merge since last year, but it's all hush-hush.
_________________A hot man once wrote: Urgh, I have to throw out half my underwear because it's too tight.
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| Thu Jun 23, 2005 7:29 pm |
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