British film exhibitor Cineworld is now the largest theater chain in North America after buying out Canada’s Cineplex for $2.1 billion, which was a whopping 42% premium.
After a decade of primarily focusing on episodic content, Netflix wants to break the theatrical glass ceiling, especially since they are funding more original films.
Amazon and Netflix both walked away from the opportunity to acquire Landmark Theaters.
Amazon is preparing to acquire Landmark Theaters according to unnamed sources. Fewer and fewer Americans are going to the theater, but those that do are spending more and more.