Remove ads with our VIP Service
Add Your Comments
- Pittsburgh, PA: Cinemark North Hills and XD to Open September 19, 2014 [9/17]
- North Haven, CT: Rave Cinemas North Haven 12 to be Replaced by New 14-Screen Cinemark Theater in 2015 [9/12]
- Birmingham, MI: Palladium 12 Closed [9/9]
- Chula Vista, CA: AMC Chula Vista 10 Now Open [9/8]
- "Gone with the Wind" Returning to Theaters Ahead of Home Video Release for 75th Anniversary [9/3]
- Sunrise, FL: Frank Theatres - Sunrise 11 Closed [9/2]
- "The Maze Runner" Gets Wider with Extra Screens in "Escape" Theaters [8/29]
- Waynesville, MO: B & B Waynesville Patriot 12 & GS Opens August 29, 2014, Waynesville Cinema 8 Closed [8/28]
- Indianapolis, IN: Cinemark Washington Market 8 Closed [8/28]
- Streator, IL: Majestic Theatre Closed, Up For Sale [8/26]
Mark Cuban, the billionaire co-owner of Landmark Theatres and owner of the Dallas Mavericks NBA team, has recently acquired a 9.4% stake in Carmike Cinemas. The Associated Press is reporting that a regulatory filing posted on December 29, 2008, shows that Cuban bought 1.2 million shares of Carmike Cinemas for about $2.8 million dollars.
In Monday's SEC filing, Cuban said he acquired his stake in Columbus, Ga.-based Carmike for investment purposes. He reserved his right to discuss the company's performance and strategic direction with Carmike's stockholders, officers or directors.
You can read more of the AP story on Yahoo Finance, which can be found on the Read link below.
Cuban co-owns Landmark Theatres with Todd Wagner, who was with Cuban in founding online streaming company Audionet, later renamed to Broadcast.com. That company was sold in 1999 for a tidy sum of cash (before the dot-com bust in 2000). The two also own distribution studio Magnolia Pictures, production company 2929 Productions, and the HDNet/HDNet Movies cable/satellite networks.
He has also been a vocal proponent of changing the way that theaters do business. Not content with the same system that has been in place for decades, he has used his ownership of the various aspects of the entertainment business to deliver movies day-and-date to theaters, DVD, and television.
As you can imagine, most theater owners are opposed to removing their exclusivity of movies (called the "release window") for fear of people staying home instead of visiting their theaters. By owning all the various links in the chain, Cuban can test out his ideas without having to worry about being shut out by one particular link in the chain. Now, with his stake in Carmike, it looks like he might be looking to spread his influence beyond the art-house theaters that typically make up the Landmark Theatres chain.
The most recent attempt at alternative programming is the live broadcast of sporting events to theaters; with some of those events being done in 3D. Carmike has been a big proponent of digital cinema projection system upgrades in their theaters, and those systems make these sporting events possible. No doubt Cuban had that in mind when he was pulling out his wallet!
Add Your Comments
No comments found. Be the first and let us know what you think!
Add Your Comments
|Commenting on Journal Articles is available only to our readers who have customized this site, which makes it easier for you to complete the form and for us to contact you with any questions or concerns about your comments.|
Please login or register a new account before continuing.
Log in to retrieve your saved settings.
Forget Your Passcode?Send My Passcode To Me
Not Registered? Create a New Account!
Our registered members enjoy more features, including:
- Save Your Location -- the site remembers your location, no having to re-enter it each time you visit
- Favorite Theaters List -- keep a handy list of the theaters you attend
- Favorite Movies List - movies you want to see, all in one place
- Write Movie Reviews -- share your opinions of the movies you see
- Block Ads with VIP Service -- view this site ad free (subscription req'd)
Basic accounts are free -- sign up today!
Concerned About Privacy?
Journal/Blog - The Marquee - Movie Links - News and Events - Now Showing - Reader Reviews
Customize - VIP Service
|The BigScreen Cinema Guide is a service of SVJ Designs LLC. All graphics, layout, and structure of this service (unless otherwise specified) are Copyright © 1995-2014, SVJ Designs. The BigScreen Cinema Guide is a trademark of SVJ Designs. All rights reserved.
'ACADEMY AWARDS®' and 'OSCAR®' are the registered trademarks and service marks of the Academy of Motion Picture Arts and Sciences.