EXCLUSIVE: Deadline hears that family-owned Los Angeles-based arthouse chain Laemmle Theatres is up for sale. At this point in time, it’s not clear whether it will be a portion or the entire …
At this point in time, it’s not clear whether it will be a portion or the entire 41-screen chain.
Laemmle Theatres also touts an upcoming new 7-plex with a 500-seat auditorium in Newhall, CA, not far from the Melody Ranch where Quentin Tarantino’swere filmed. Laemmle’s Newhall cinema is expected to open toward the end of the year. The chain has been renowned throughout its history for booking Oscar qualifying runs for contenders, including independent pics, shorts and documentaries., which saw its 252 screens in 27 markets purchased by Cohen Media Group for a reported $100M in cash and stock, from previous owners Mark Cuban and Todd Wagner. Sometimes in these theater deals there’s actual hard real estate owned, along with some leases.
Laemmle’s upcoming multiplex in Newhall fills a void in the community which is in need of a fresh new movie theater . The Daily News reported back in October that Laemmle will own that theater through its single purpose entity Laemmle Newhall LLC. The City of Santa Clarita gave Laemmle the land to build on as well as some additional unreported financial incentives.
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