Why is ArcLight closing?
ArcLight and Pacific executives remain silent on the abrupt announcement. But it appears that a key factor in the decision to close was rent, which is the largest fixed cost for theatrical exhibitors. Decurion Corp., the real estate company that owns ArcLight and Pacific, likely didn’t see a path forward.
Is ArcLight owned by AMC?
We already knew that AMC Entertainment took over two older Pacific Theatres leases at Rick Caruso’s The Grove in L.A. and Americana at Brand in Glendale. There was no mention of AMC scooping up Arclight’s prize jewels, the Arclight Hollywood and Cinerama Dome.
What will happen to ArcLight Cinemas?
Decurian, owner of the Arclight Cinemas and Pacific Theatres announced last month the chain won’t be reopening even as Los Angeles is. Its crown jewel is the Hollywood Arclight on Sunset Boulevard, one of the highest-grossing movie theaters in the nation, and the adjacent Cinerama Dome beloved by filmmakers.
Who bought ArcLight Cinemas?
The Decurion Corporation
The ArcLight Hollywood was a 15-screen multiplex located at 6360 Sunset Boulevard in Hollywood, California….ArcLight Hollywood.
Owner | The Decurion Corporation |
Opened | 2002 |
Closed | 2021 |
Website | |
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www.arclightcinemas.com |
Is anyone buying ArcLight?
AMC Theaters Thaws $230.5 Million in Cash, Looks to Buy ArcLight Cinemas. “Given our scale, experience and commitment to innovation and excellence, AMC is being presented with highly attractive theatre acquisition opportunities, said AMC President and CEO Adam Aron, in a statement.
Who owns the ArcLight?
ArcLight Cinemas – Hollywood/Owners
ArcLight and Pacific’s parent company, Los Angeles real estate company Decurion Corp., said in April that it would not reopen its locations, making the respected chain one of the highest-profile movie business casualties of COVID-19’s impact on the economy.
What does Arclight mean?
An arclight or arc lamp is a lamp that produces a bright light by generating an electric arc across two electrodes.
What theaters did AMC buy?
UPDATED: AMC has made it official that it has reached an agreement with Los Angeles real estate titan Rick Caruso for the leases to the 14-screen Grove Theatre in Los Angeles and the 18-screen Americana at Brand Theatre in Glendale, CA, located at their respective outdoor malls.
Who is buying Pacific theaters?
AMC Takes Over Former Pacific Theatres Locations at Grove and Americana.
Will Netflix buy ArcLight?
While Netflix may be interested in acquiring a single iconic property, it’s unlikely to buy a chain of commercial theaters like ArcLight as that’d venture too far from its streaming-first mission.
Who bought Cinerama Dome?
Mudrick Capital Management
The Leawood, Kan. -based company on Tuesday said it reached an agreement to raise $230.5 million in cash by selling equity to investment firm Mudrick Capital Management, exchanging 8.5 million shares at a price of approximately $27.12 per share.
What does ArcLight mean?
Who owns ArcLight Cinemas?
Pacific Theatres is an American chain of movie theaters in the Los Angeles metropolitan area of California. Pacific Theatres is owned by The Decurion Corporation which also owns ArcLight Cinemas.
What is Lux theater?
The Lux Theatre is situated in the Hung Hom district on the Kowloon side of Hong Kong. It opened to business on 25th January, 1971 with a Mandarin kung-fu film. Its 1,442-seat auditorium had a Vistarama screen ideal for showing Cinemascope films. In 1995, the theatre was renovated, with its stalls and spacious lobby converted…
What is a Regal Theater?
Regal Theatre, cnr Hay Street and Rokeby Road. The Regal Theatre is a theatre located in the suburb of Subiaco in Perth, Western Australia. The theatre was named for King George VI who, at the time, had taken up the throne. It was originally a theatre for films, but in 1977 the Regal was converted into a live theatre.