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|Home: BigScreen Journal - Wehrenberg Theatres Chain Looking For a Buyer|
The St. Louis Post-Dispatch is reporting that the owners of the Wehrenberg Theatres chain is looking for a buyer:
Nearly 100 years after Fred Wehrenberg opened the first theater in St. Louis designed specifically for motion pictures, his company — said to be the oldest and largest family-owned theater chain in America — is shopping for a potential buyer.
Executives of Des Peres-based Wehrenberg Theatres, which operates 10 theater complexes in the St. Louis area and five more throughout the Midwest, told more than 800 employees last month that it's exploring a possible sale of its theater operations.
"The industry is consolidating, and the investment required to remain a leader keeps getting larger," spokeswoman Kelly Hoskins said Monday, reading from a prepared statement. "Remaining an effective competitor and continuing entertainment excellence requires a greater financial resource and economies of scale. We've concluded the best action for our company is to be proactive to determine our own future."
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Wehrenberg Theatres operates theaters in 15 locations, including Missouri, Illinois, Iowa, and Minnesota.
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