Loews Cineplex Entertainment
| Company type | Joint venture (formerly) |
|---|---|
| Industry | Movie theater chain |
| Founded | 1 January 1904 in Cincinnati, Ohio, United States |
| Founder | Marcus Loew |
| Defunct | 2006 |
| Fate | Merged with AMC Theatres (U.S. division), Canadian operations merged into Cineplex Galaxy |
| Headquarters | New York City and Toronto , United States and Canada |
Area served | United States, Canada, Mexico, South Korea, Spain |
Key people | Robert and Laurence Tisch (owners at one point) |
| Products | Movie theaters |
| Parent | Sony Pictures and Universal Studios (at one point) |
Loews Cineplex Entertainment, initially known as Loew's Incorporated, was a leading American cinema chain with operations throughout North America. Established by businessman Marcus Loew, the company adopted the "Loews" name following its 1969 acquisition by the Tisch brothers.
In 1998, Loews combined forces with the Canadian firm Cineplex Odeon Corporation, significantly broadening its market reach. Nevertheless, the company encountered bankruptcy in 2001 due to widespread industry difficulties. Its U.S. division merged with AMC Theatres in 2006, while Canadian theaters were integrated into Cineplex Galaxy in 2003.
Prior to AMC retiring the Loews brand in 2017—after acquiring Carmike Cinemas—the chain operated under several banners such as Loews Theatres, Cineplex Odeon, Star Theatres, Magic Johnson Theatres, Cinemex, and MEGABOX. Corporate headquarters were located in both New York City and Toronto.
Historically, from 1924 until 1959, Loews maintained a connection with MGM Studios until MGM divested its controlling stake to the Tisch family. Later ownership included Sony Pictures and Universal Studios. Loews Cineplex’s international footprint extended across the United States, Canada, South Korea, Spain, and Mexico, demonstrating a broad presence in the global entertainment sector.
History
Loew's Theatres Incorporated was established in 1904 in Cincinnati, Ohio by entrepreneur Marcus Loew, who developed a network of nickelodeon venues showcasing brief silent films. The business grew to include vaudeville theaters and grand movie palaces primarily located in cities along the East Coast and Midwest of the United States.
To ensure film supply for his theaters, Loew founded Metro-Goldwyn-Mayer (MGM) in 1924 through the merger of Metro Pictures, Goldwyn Pictures, and Louis B. Mayer Productions. Until the 1948 Supreme Court decision United States v. Paramount Pictures, Inc. mandated their separation in 1959, Loew's Incorporated acted as MGM's distribution branch.
By 1985, Loews Corporation—a holding company owned by Robert and Laurence Tisch focusing on hotel and insurance sectors—brokered the sale of Loews Theatres to a consortium led by A. Jerrold Perenchio for $160 million.
In 1986, Tri-Star Pictures—a joint venture co-owned by The Coca-Cola Company and Time Inc.'s HBO—purchased Loews Theatre Management Corporation for $300 million. Following HBO's withdrawal and Tri-Star’s merger with Columbia Pictures in 1987 (creating Columbia Pictures Entertainment), Sony acquired Columbia in 1989 and thereby took control of the theater chain.
Sony rebranded Loews Theatres as Sony Theatres in 1994 and collaborated with basketball star Magic Johnson to launch Magic Johnson Theatres aimed at urban audiences. Sony implemented Sony Dynamic Digital Sound technology but reverted to using the Loews brand by 1996.
In 1997, Cineplex Odeon Corporation announced a $1 billion merger with Loews Theatres, forming Loews Cineplex Entertainment, a joint venture between Sony and Universal Studios. This alliance expanded operations into the U.S., Canada, Mexico, South Korea, and Spain. That same year, the company sold Cineplex Odeon Films to Alliance Atlantis.
Confronted with financial difficulties, Loews Cineplex filed for Chapter 11 bankruptcy protection in 2001, resulting in the closure of 46 theaters across North America. In 2002, Onex Corporation and Oaktree Capital Management acquired the company from Sony and Universal and prepared for an initial public offering (IPO). By 2004, a private investor group including the Carlyle Group and Bain Capital purchased Loews; Onex retained Canadian operations which were merged with Galaxy Cinemas to create Cineplex Galaxy Income Fund.
In 2005, AMC Theatres announced plans to merge with Loews Cineplex Entertainment. At that time, Loews managed 198 theaters comprising 2,235 screens. Following the merger, many venues were rebranded as AMC Loews until the Loews name was gradually discontinued by 2017.
See also
- Loew's Wonder Theaters
- United States v. Loew's Inc., 1962 Supreme Court ruling concerning block booking
- Cineplex Entertainment
Further reading
External links
- Articles with short description
- Loews Cineplex Entertainment
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- AMC Theatres
- Metro-Goldwyn-Mayer
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