Landmark Theatres Up for Sale
In the market for a couple of movie theaters? Two of St. Louis' prime indie cinemas are apparently on the block.
Last night, Bloomberg broke the news that billionaire Mark Cuban is putting his Landmark Theatre chain up for sale. The chain includes the Loop's Tivoli Theatre (the RFT's next-door neighbor), as well as the Plaza Frontenac Cinema, in west St. Louis County. Cuban's indie-film distributor Magnolia Pictures is up for sale as well.
Cuban, best known as the outspoken owner of the NBA's Dallas Mavericks, told Bloomberg he was "just testing the waters." He told a reporter in an e-mail: "We won't sell unless the offer is very, very compelling." Bidders are expected to file their offers next week.
The Los Angeles-based Landmark operates 55 cinemas in 21 cities.