Loews Cineplex Entertainment: Difference between revisions
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'''Loews Theaters''', founded in [[1904]] by [[Marcus Loew]], was the oldest theater chain operating in [[North America]] until it merged with [[AMC Theatres]] on [[January 26]], [[2006]]. |
'''Loews Theaters''', founded in [[1904]] by [[Marcus Loew]], was the oldest theater chain operating in [[North America]] until it merged with [[AMC Theatres]] on [[January 26]], [[2006]]. |
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[[Image:Time-Square.jpg|thumb|left|250px|Times Square and Loews Theatre]]It was noted for being the distribution arm and parent company for [[Hollywood]] giant [[Metro-Goldwyn-Mayer]] (MGM) until, forced by a [[1948]] [[U.S. Supreme Court]] [[United States v. Paramount Pictures, Inc.|ruling]], the two split in [[1954]]. In [[1998]], [[Cineplex Odeon Corporation]] merged with Loews Theaters to form '''Loews Cineplex Entertainment'''. The combined company was one of the largest movie exhibitors in the world, with theaters in the [[United States]], [[Canada]], [[Mexico]], [[Korea]], and [[Spain]]. In [[2002]], [[Onex Corporation]] and [[Oaktree Capital Management]] acquired Loews Cineplex. In [[2004]], they sold it, minus its Canadian assets, to a private group of investors which included the [[Carlyle Group]]. In [[2005]], [[AMC Theaters]] announced that it would merge with Loews Cineplex Entertainment and that the merged company would adopt the AMC name. The Loews name would remain a brand under the new company. <ref>{{cite web | title=AMC closes acquisition of Loews Cineplex | work=USA Today | url=http://www.usatoday.com/life/movies/news/2006-01-26-amc-loews_x.htm | accessdate=January 26 | accessyear=2006}}</ref> At the time of the merger, Loews operated 198 theaters with 2,235 screens. It is not affiliated with the [[Loews Corporation]]. |
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Revision as of 14:22, 10 April 2007
Loews Theaters, founded in 1904 by Marcus Loew, was the oldest theater chain operating in North America until it merged with AMC Theatres on January 26, 2006.
It was noted for being the distribution arm and parent company for Hollywood giant Metro-Goldwyn-Mayer (MGM) until, forced by a 1948 U.S. Supreme Court ruling, the two split in 1954. In 1998, Cineplex Odeon Corporation merged with Loews Theaters to form Loews Cineplex Entertainment. The combined company was one of the largest movie exhibitors in the world, with theaters in the United States, Canada, Mexico, Korea, and Spain. In 2002, Onex Corporation and Oaktree Capital Management acquired Loews Cineplex. In 2004, they sold it, minus its Canadian assets, to a private group of investors which included the Carlyle Group. In 2005, AMC Theaters announced that it would merge with Loews Cineplex Entertainment and that the merged company would adopt the AMC name. The Loews name would remain a brand under the new company. [1] At the time of the merger, Loews operated 198 theaters with 2,235 screens. It is not affiliated with the Loews Corporation.
Further reading
- Robert Sobel The Entrepreneurs: Explorations Within the American Business Tradition (Weybright & Talley 1974), luca 7, Marcus Loew: An Artist in Spite of Himself ISBN 0-679-40064-8.
- Wikipedia article, with links, about the Loew's "Wonder Theaters" constructed in New York City in 1929 and 1930
References
- ^ "AMC closes acquisition of Loews Cineplex". USA Today. Retrieved January 26.
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