Arthouse specialist Landmark Theatres has been sold by Todd Wagner and Mark Cuban to Cohen Media Group for an undisclosed price.
The sale ends months of speculation about Landmark’s fate — the company has been shopped around for months, reportedly drawing interest from Amazon, Netflix, and Byron Allen. Cohen Media Group chairman Charles S. Cohen, a real estate developer whose fortune is estimated to be $3.4 billion, said he will retain the senior management team of Landmark Theatres.
In an interview with Variety, Landmark Theatres president and CEO Ted Mundorff said he was pleased that the sale had been resolved and also said he was optimistic that Cohen, a cinephile, was an ideal owner.
“It’s a great day for the industry,” said Mundorff. “You have a film lover who bought a theater company… and he’s going to keep the ship running the way it has been going.”
The deal was announced Tuesday by Wagner,...
The sale ends months of speculation about Landmark’s fate — the company has been shopped around for months, reportedly drawing interest from Amazon, Netflix, and Byron Allen. Cohen Media Group chairman Charles S. Cohen, a real estate developer whose fortune is estimated to be $3.4 billion, said he will retain the senior management team of Landmark Theatres.
In an interview with Variety, Landmark Theatres president and CEO Ted Mundorff said he was pleased that the sale had been resolved and also said he was optimistic that Cohen, a cinephile, was an ideal owner.
“It’s a great day for the industry,” said Mundorff. “You have a film lover who bought a theater company… and he’s going to keep the ship running the way it has been going.”
The deal was announced Tuesday by Wagner,...
- 12/4/2018
- by Dave McNary and Brent Lang
- Variety Film + TV
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