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This topic comprises 3 pages: 1 2 3
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Author
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Topic: Loews/AMC merger
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John Hawkinson
Film God
Posts: 2273
From: Cambridge, MA, USA
Registered: Feb 2002
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posted 06-21-2005 08:49 AM
Today. AMC and Loews announce a merger, the combined company to be called AMC Entertainment Inc.
From the press release: quote:
AMC Entertainment Inc. and Loews Cineplex Entertainment Corporation to Merge
Kansas City, Missouri and New York, New York - June 21, 2005 - AMC Entertainment Inc. and Loews Cineplex Entertainment Corporation, two of the world's leading theatrical exhibition companies, announced today that they have entered into a definitive merger agreement that would result in the combination of their businesses and the merger of AMC Entertainment Inc. and Loews Cineplex Entertainment Corporation. The merger agreement also provides for the merger of their respective holding companies, Marquee Holdings Inc. and LCE Holdings, Inc., with Marquee Holdings Inc., which is controlled by affiliates of J.P. Morgan Partners, LLC and Apollo Management, L.P., continuing as the holding company for the merged businesses. The current stockholders of LCE Holdings, Inc., including affiliates of Bain Capital Partners, The Carlyle Group and Spectrum Equity Investors, would hold approximately 40% of the outstanding capital stock of the continuing holding company.
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Makes me a bit grumpy here in Boston where Loews dominates and the only non-Loews multiplex in Boston proper is an AMC...
--jhawk
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Monte L Fullmer
Film God
Posts: 8367
From: Nampa, Idaho, USA
Registered: Nov 2004
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posted 06-21-2005 12:21 PM
I ued to work for EDWARDS (Damn, I miss that company...they knew their stuff...) when the announcement came across of the Anshutz buying the interests of the three circuit's (Regal, EDWARDS, and United Artists) Chpt 11 orders, thus making a new company of REG, I figured that even with this buyout, that the operations would stay the same. WRONG! Regal, being the largest of the three, was given authority to be the one in charge of operations, (which some of us were given warnings on their operational tactics if we wanted to leave or not, and if we left, we would be given a severance package) but with this new management style, a lot of UA and EDW's people left. Course, with this merger became the largest circuit in the States.
Now, with this AMC/LCE merger, wonder if this new circuit of AMC Entertainment will also begin to gobble up smaller circuits, just to keep in the competition with REG as the largest circuit. For AMCE will have to gobble up at least another 1200 screens to overshoot REG to be the biggest.
..getting kinda scary on what's goings on in the theatre business world - a new theme of "just want to be the biggest, not the best?"
One can also see the huge increase of home theatre sales with this as well.....
-Monte [ 06-21-2005, 02:59 PM: Message edited by: Monte L Fullmer ]
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Jeremy Jorgenson
Phenomenal Film Handler
Posts: 1002
From: Chicago, IL, USA
Registered: Feb 2005
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posted 06-21-2005 03:19 PM
That's a good point I hadn't thought about. With more and more uniformity, a theatre with a different 'agenda' would certainly make an impression on some of the moviegoers, hopefully a good impression.
As to the Loews name, I would hope that it would be similar to what Regal did, in allowing Edwards and United Artists keep their names (well, from what I've seen, though I imagine there may have been some that have changed), especially with a name like "Loews" ... but then again, one never knows.
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