|Industry||Movie Theatre, Bowling Centers|
|Founder(s)||M.A. Lightman, Sr|
|Area served||Arkansas, Tennessee, Mississippi, Kentucky, Missouri, Louisiana|
|Key people||Stephen Lightman, President
Robert Levy, Executive VP
James Tashie, Executive VP
Robert Harrington VP/CFO
Jeff Kaufman, Senior VP-Film
David Tashie, Senior VP-Construction
Larry Etter, Senior VP-Concessions
Alan Denton VP-Corporate Communications
Don Burchett VP-Western Operations
Donald Terry VP-Memphis Operations
Karen Scott Director of Marketing
Nathan McDaniel Director of Eastern Operations
Malco Theatres, Inc. is a fourth generation movie theatre chain that has remained family owned and operated for over nine decades. The company has 29 theatre locations with over 300 screens in five states (including Arkansas, Kentucky, Mississippi, Missouri and Tennessee). Malco also operates five bowling lanes in southern Louisiana.
Malco Theatres' history began during World War I when Morris A. Lightman, Sr., (known as M.A.) the son of a Hungarian immigrant, left his hometown of Nashville, Tennessee, and went to Colbert County, Alabama, to work on the Wilson Dam project as an engineer. Although he held a degree in engineering from Vanderbilt University, he thought of himself more as a showman and entertainer. Lightman decided it was time to try something new one day while in Northwest Alabama, when he came upon a long line of people waiting to get into a local theatre. He decided he wanted to operate a movie theatre. Lightman traveled to Atlanta where he had made a contact in the theatre business and sought to learn the art of movie exhibition.
Upon his return two months later to Northwest Alabama, in February 1915, Lightman formed The Sterling Amusement Company and opened his first theatre in a storefront he had rented in Sheffield, Alabama. Lightman named this storefront theatre "The Liberty Theater", and later opened a 400 seat theatre, "The Majestic" across the river in Florence, Alabama at 204 North Court Street, in August 1919. Lightman opened a third theatre in the area before accepting an offer from another local theatre owner to buy out his theatres in the area. In return, Lightman received a 50 per cent stake in a theatre in North Little Rock, Arkansas.
After leaving Northwest Alabama, M.A. Lightman, Sr., partnered with his father, Joseph Lightman, a stone construction contractor, to build the Hillsboro Theater in Nashville, Tennessee. They opened the Hillsboro on May 18, 1925, with the D.W. Griffith film America. Three months later, Tony Sudekum, founder of Crescent Amusement Co., opened a competing theater at the opposite end of the same block. The competition with Sudekum forced M.A. and his father to close the Hillsboro Theater. The theater was used as a live production venue for many years until being converted back into a cinema and renamed the Belcourt Cinema in 1966 by a new group of owners.
The former Hillsboro Theater is still standing today and is operated by a non-profit organization as an independent art house. M.A. Lightman, Sr. left Nashville in 1926 after the Hillsboro failed and went to North Little Rock. Joseph Lightman died in 1928, in Nashville. His passing was covered on the front page of the Tennessean.
It was in North Little Rock that Lightman partnered with M.S. McCord and M.J. Pruniski forming the Malco Amusement Company. They began building a theatre chain by buying and building single screen cinemas throughout Arkansas.
In September 1926, Malco Amusement Company took on two more partners, W.F. McWilliams and L.B. Clark, in El Dorado, Arkansas. This led to the formation of Arkansas Amusement Enterprises, Inc. with a total of 32 theatres in Arkansas with locations including Little Rock, North Little Rock, Camden, Hope, and Smackover. Not long after the formation of Arkansas Amusement Enterprises, McWilliams and Clark left the partnership and bought the five El Dorado locations from the company.
In 1929, Arkansas Amusement Enterprises became Malco Theatres, Inc. This is also the year that the company started installing Vitaphone and Movietone equipment to add sound for the first time in their theatres.
Malco Theatres began acquiring cinemas not only in Arkansas but also in West Tennessee, Louisiana, Northern Mississippi, Western Kentucky, and Southeastern Missouri. It was in 1929 that Malco Theatres purchased its first location in Memphis, Tennessee, the Linden Circle Theatre.
 Movie palaces
 The Memphian - Memphis, TN
Malco Theatres opened The Memphian in 1935 on Cooper Avenue in Memphis. It continued operations for 50 years until being closed in 1985.
 The Malco - Memphis, TN
In 1940, Malco Theatres purchased the Orpheum Theatre, a former vaudevillian theatre in downtown Memphis, and renamed it The Malco. This opulent movie palace at 89 Beale Street also became the base of operations for Malco Theatres until 1976.
The Malco began operations on April 20, 1940, with its first film It's a Date. The premiere gala was sponsored by the Nineteenth Century Club.
 The Crosstown - Memphis
In 1951, Malco Theatres opened The Crosstown located on Watkins in Memphis. The Crosstown cost $400,000 to build and had a seating capacity of 1,400. An overview of The Crosstown published in the 1952 Theatre Catalog describes the theatre:
A towering signature sign, measuring 90 feet (27 m) from marquee to top, and a marquee that is 75 feet (23 m) long and seven and a half feet high, strikingly distinguish the front of this neighborhood shopping district theatre. An under-the-marquee driveway for patrons to use in bad weather is provided, with a circular roadway cutting through the sidewalk under the marquee and back to the street.
The Crosstown is said to have the only contour curtain in the territory. Measuring 70 feet (21 m) across and 32 feet (9.8 m) high, the curtain rises from the floor into eight festoons, and is made of 350 yards (320 m) of 54-inch (1.4 m) plush.
Auditorium walls are in aqua, with rose-tan wainscoting and a trim of silver, gold, and red-tan. On each side wall are 45-by-22-foot murals depicting river scenes.
Malco Theatres continued to operate The Crosstown until the mid-1970s.
 The Rialto - Morrilton, Arkansas
The Rialto opened in 1953.
 Time of change
After three decades of partnership, M.A. Lightman, Sr. announced on July 17, 1952, that Malco Theatres, Inc. and Malco Realty Corp. had acquired the outstanding 33 percent of the stock that was owned by M.S. McCord and M.J. Pruniski. At the time, Malco Theatres operated 63 theatres in Tennessee, Kentucky, Arkansas, Mississippi and Louisiana including the Crescent Drive-In that had just opened in New Orleans. Pruniski and McCord retained the group of theatres in North Little Rock removing them from the Malco chain.
On December 8, 1958, at age 67, M.A. Lightman, Sr. died as a result of a heart attack while in Detroit. Like his father before him, his death garnered an epitaph on the front page of the local newspaper.
During the highly controversial period of integration in the South, Malco Theatres introduced integrated seating in their five Memphis theatres without any major incident. M.A. Lightman, Sr.'s two sons, M.A. Lightman, Jr. and Richard Lightman were running the company during this time. In the segregated South, movie theatres would only permit black patrons in the balcony, providing them with a separate entrance to the building. In 1962, Richard Lightman met with Vasco Smith of the Memphis Bi-Racial Committee and set up a staggered process over a three-week span where the first week they sold tickets to the "whites only" orchestra level at The Malco (the present day Orpheum) to one African-American couple. The second week it was increased to four couples and the third week it was increased even more. By the fourth week, all African-American patrons were permitted to buy tickets anywhere in the theatre. Richard worked with the local media to keep any news of the integration to a minimum as to avoid any conflict with the outspoken pro-segregation leaders of the time.
This initial period of integration of the Memphis theatres saw only one incident of note. During a showing of Cleopatra at The Crosstown, a white patron poured his soda down the neck of an African-American patron. Richard Lightman sought to calm the situation with the patron and keep the incident out of the news. As a result, Malco Theatres, purchased the gentleman a new suit.
In the summer of 1969, it was announced that Cinerama, Inc., of New York was purchasing Malco Theatres, Inc., for $10 million. At the time Malco had 50 theatres in five states. The deal was never finalized and Malco Theatres remained in the control of the Lightman family.
On June 4, 1970, M.A. Lightman, Jr., announced Malco Theatres' plans for the first two four-screen cinemas for the company. The first, the Highland Quartet, was in Memphis at the corner of Highland and Poplar in what was then called "Dillard Mall". The second quartet was three and a half miles away in the Clark Tower. At the time, four screen theatres were considered huge and were not yet common. M.A. Lightman, Jr. had this to say concerning these two locations:
With this setup, we can bring back films that a neighborhood house couldn't because of the overhead and small return. With our overhead more or less centralized, we could bring in a film that would attract, say, only a hundred or so, but we could do it because we wanted to and without loss.
Every type of good picture -- with the exception of the nudies, of course -- will be brought in. We haven't figured out all the combinations ourselves.
The Dillard Mall building is already completed and will be turned over to us in several weeks. It will take us only about three months to complete our additions. Plans call for the new Clark Tower to be started this spring. It should be completed in about 18 months.
The Clark Tower Quartet was never built. The Highland opened later that year and operated until the fall of 2005.
Friday, June 16, 1977, saw the opening of the Ridgeway Four theatre in East Memphis. The opening slate of films was A Bridge Too Far, The Little Girl Who Lives Down the Lane, The Other Side of Midnight, and Final Chapter - Walking Tall. The Ridgeway Four also became the location of Malco's corporate headquarters and continues to serve in that capacity.
 Almost bought again
Malco Theatres, Inc. confirmed to the Commercial Appeal on July 24, 1986, the sale of the company's 38 locations to Commonwealth Amusements Corp. of Kansas City, Missouri, was scheduled to be completed by the end of that summer. The deal fell through when Commonwealth decided not to expand at that time. Commonwealth Amusements ended up selling all of their theatre assests, mostly to United Artist, by 1990.
It was in December of that same year when company president, Stephen P. Lightman (son of M.A. Lightman, Jr.) announced that Malco Theatres would expand.
Rather than sell our circuit as many small circuits around the country are now doing, we have made a commitment to become more aggressive and find our niche in the new wave of theater exihibition. We will be one of the smaller chains. We used to be a fairly good-sized chain, but it's getting down to six or seven dominant chains. -- Stephen P. Lightman
July 3, 1987, the Winchester Court cinema opened three of its eight screens as the company's and the area's first multiplex. This opening came only three and a half months after construction began. The estimated price tag for the complex was around half a million dollars. The first film shown was Innerspace.
One of the Winchester Court's two 350 seat auditoriums was THX-certified. All of the auditoriums featured JBL speakers and Dolby processors. The theatre also had 70mm film projection capability in its two 350 seat auditoriums. Four of the auditoriums could seat 210 with the remaining two auditoriums seating 160.
Malco's first and only foray into the megaplex scene began with the Majestic theatre, which opened in 1997 with 11 screens and expanded to 20 in 1998. A technological showcase, the Majestic featured THX-certified auditoriums, Dolby Digital and DTS audio, large format screens and an auditorium with a custom-designed audio system crafted with Klipsch speakers.
 Theatres of the past (incomplete listing)
 Singles, twins, trios & quartets
- Malco Cinema (Jackson, TN 1976-2001) (originally Malco Quartet)
- Trinity Commons (1988–2004)
- The Appletree (1991–2001)
- Razorback 6 (Fayetteville, AR 1977-2007)
- Winchester Court (1987–2008)
- Raleigh Springs Mall Cinema (2002–2011)
 Present day
 Digital projection
Malco Theatres is a fully digital circuit, using Dolby Digital Cinema systems throughout as well as Dolby Digital 3D systems.
 Current theatre locations
- Owensboro Cinema (Owensboro)
- Malco Trio (Sikeston)
 Bowling Centers
- "Malco's corporate information". Retrieved 2006-12-11.
- "Movie-Theatre.org's Memphis Theatre info" (XLS). Retrieved 2006-12-11.