Cinemex
 | |
| Company type | Sociedad Anónima de Capital Variable |
|---|---|
| Industry | Entertainment |
| Founded | 1993 |
| Founder |
|
| Headquarters | Mexico City, Mexico |
| Website | Cinemex CMX Cinemas (USA) |
Cinemex is a Mexican chain of cinemas. It operates multiplexes in cities such as Mexico City, Guadalajara, Monterrey, Toluca, Cd. Juarez, Leon, Tijuana, Mexicali, Puebla and other Mexican cities.
In 2015, Cinemex began to expand into the United States under the banner CMX. It initially focused on cinemas with premium amenities; in 2017, this division expanded via its acquisition of Cobb Theatres, making it the eighth-largest U.S. cinema chain.
History
[edit]Cinemex started with a college business plan. Adolfo Fastlicht, Miguel Angel Dávila Guzmán and Matthew Heyman speculated that Mexico was ready for larger movie theaters. When the regulations were lifted with the new Cinematography Law passed in Mexico in 1992, Adolfo Fastlicht and Miguel Angel Dávila decided that Mexico City offered a market for a high-end chain of theaters.[citation needed]
In 1994, they secured $21.5m in equity financing from JPMorgan Partners and a partnership of the Bluhm family of Chicago, CMex Investors.and some Mexican former politicians The deal is generally acknowledged to be the largest venture capital start-up in Mexican history.[citation needed]
Cinemex's first theater was Cinemex Altavista and it opened on August 2, 1995; the second was Unicornio Land opened on September 23, 1996, soon followed by Cinemex Santa Fe, the company's flagship, in October and Cinemex Manacar in January 1997. That same year saw the opening of Cinemex Los Reyes and Cinemex Loreto.[citation needed]
In June 2002, Oaktree Capital Management acquired Cinemex for $250 million. Two years later, it was sold to a partnership of The Carlyle Group, Bain Capital and Spectrum.[citation needed]
Cinemex was acquired by MMCinemas, the second-largest movie theater operator in the country, from AMC Entertainment for $315 million in 2008.[1]
In 2013, Cinemex began to offer MX4D screens at selected locations.[2]
In February 2013, Cinemex announced its intent to acquire the Mexican operations of U.S. cinema chain Cinemark.[3] The sale was approved by regulators in November.[4]
In August 2013, Cinemex reached a 10-year agreement to exclusively use RealD equipment at all of its cinemas.[5][6]
In 2015, Cinemex and competitor Cinépolis were both fined by the Instituto Nacional Electoral for defying an order to cease screening political advertising from the Ecologist Green Party of Mexico. The party was also fined.[7][8]
U.S. operations
[edit]In 2015, Cinemex announced plans to expand into the United States with premium dine-in cinemas, including a location at American Dream in New Jersey.[9] In 2016, it opened its first U.S. location under the banner CMX: The VIP Cinema Experience, at Brickell City Centre in Miami.[10][11] In October 2017, Cinemex announced its intent to acquire Cobb Theatres via the CMX Cinemas subsidiary, which made it the eighth-largest U.S. cinema chain with 30 locations.[12]
On March 16, 2020, CMX agreed to acquire 10 theatres and one under development from Star Cinema Grill. However, its Star Cinema Grill owner Omar Khan filed a lawsuit in April alleging that CMX breached its contract by refusing to close the deal by March 26 because of the COVID-19 pandemic. CMX filed for Chapter 11 bankruptcy protection on April 25 due to the pandemic; CMX shuttered 10 underperforming theatres and was initially unable to renegotiate contracts with creditors such as landlords and movie studios.[13] Following a six-month negotiation with creditors, CMX emerged from bankruptcy in December; landlords agreed to modified revenue-share leases where they will receive part of the theatres' profits.[14]
Locations
[edit]| Name | City | Opening date |
|---|---|---|
| CMX Pinnacle 14 | Gulf Shores, Alabama | July 22, 2005 |
| CMX Hollywood 16 & IMAX | Tuscaloosa, Alabama | November 5, 2004 |
| CMX Lakeside Village 18 & IMAX | Lakeland, Florida | December 22, 2005 |
| CMX Merritt Square 16 & IMAX | Merritt Island, Florida | May 21, 2004 |
| CMX Dolphin 19 & IMAX | Miami, Florida | May 25, 2001 |
| CMX Miami Lakes 17 | Miami Lakes, Florida | June 29, 2000 |
| CMX Downtown In The Gardens | Palm Beach Gardens, Florida | November 23, 2005 |
| CMX CinéBistro Hyde Park | Tampa, Florida | October 16, 2009 |
| CMX Grand 10 | Winter Haven, Florida | November 15, 2002 |
| CMX CinéBistro Stony Point | Richmond, Virginia | October 22, 2010 |
| CMX Plaza Café 12 | Orlando, Florida | December 12, 2010 |
| CMX Village 14 | Leesburg, Virginia | July 23, 2011 |
| CMX Countryside | Clearwater, Florida | December 16, 2011 |
| CinéBistro Waverly Place | Cary, North Carolina | September 4, 2015 |
| CMX CinéBistro and CMX Liberty | Liberty Township, Butler County, Ohio | November 5, 2015 |
| CMX CinéBistro Siesta Key | Sarasota, Florida | February 12, 2016 |
| CMX Tyrone 10 | St. Petersburg, Florida | April 15, 2016 |
| CMX Daytona 12 | Daytona Beach, Florida | December 12, 2016 |
| CMX Wellington | Wellington, Florida | December 15, 2016 |
| CMX CinéBistro CityPlace Doral | Doral, Florida | March 17, 2017 |
| CMX Brickell Dine-In | Miami, Florida | April 2017 |
| CMX Market Cinemas Closter | Closter, New Jersey | January 2018 |
| CMX Fallschase | Tallahassee, Florida | July 27, 2018 |
| CinéBistro Peachtree Corners | Peachtree Corners, Georgia | March 8, 2019 |
| CMX CinéBistro Halcyon | Alpharetta, Georgia | September 27, 2019 |
| CMX CinéBistro Tysons Galleria | McLean, Virginia | January 27, 2023 |
References
[edit]- ^ Young, James (December 16, 2008). "AMC unloads Cinemex to Larrea". Variety. Retrieved March 8, 2021.
- ^ "Mediamation's X4D format to be used by major motion picture studios". attractionsmanagement.com/. Retrieved 2019-03-02.
- ^ "Cinemark Selling Mexico Theater Chain". The Hollywood Reporter. Retrieved 2017-11-20.
- ^ "Cinemex confirma fusión con Cinemark". El Economista. 13 November 2013. Retrieved 23 November 2013.
- ^ Giardina, Carolyn (7 August 2013). "RealD, Cinemex Ink Exclusive 3D Cinema Deal". The Hollywood Reporter. Retrieved 20 August 2013.
- ^ Wiseman, Andreas (7 August 2013). "RealD, Cinemex ink 10-year deal". ScreenDaily. Retrieved 20 August 2013.
- ^ "INE avala multa al PVEM por 67.1 mdp por spots en cine". Excélsior (in Spanish). 2015-03-06. Retrieved 2019-03-02.
- ^ "Partido Verde, Cinemex y Cinépolis: crónica de una multa anunciada". Forbes (in Spanish). 3 March 2015. Retrieved 22 April 2019.
- ^ O'Neill, Erin (2015-10-08). "Dine-in theater with private rooms and '4D' coming to American Dream megamall". nj.com. Retrieved 2019-03-02.
- ^ Zumbach, Lauren. "Upscale movie theater chain from Mexico headed to Wrigleyville". Chicago Tribune. Retrieved 2017-11-20.
- ^ "Luxury is the star at new Brickell movie theater". Miami Herald. Retrieved 2017-11-20.
- ^ Brinkmann, Paul. "CMX Cinemas buys Cobb Theatres, including Orlando location". Orlando Sentinel. Retrieved 2017-11-20.
- ^ "CMX Cinemas files for bankruptcy amid dispute over Star Cinema Grill deal". Houston Business Journal. 2020-04-27.
- ^ Rodriguez, Rene (2020-12-03). "The Miami-based CMX movie theater emerges from bankruptcy in an unusual way". Miami Herald.
