Can Movie Theaters Move Past the Blockbuster-or-Bust Era?


Landmark Theaters announced Wednesday that its Pico Boulevard location will shut down at the end of the month after the company was “unable” to extend its tenancy.

“For months, we’ve worked to extend our tenancy of The Landmark Pico but have been unable to reach terms, Landmark Theaters president Kevin Holloway said in a statement provided to media. “We send our deepest appreciation to the Pico staff, guests, and the filmmaking community for their support over the years. We’re exploring opportunities to expand our Los Angeles footprint, which we hope to be able to share more on soon.”

Built in 2007, the multi-story, 12-screen theater was home to many screenings hosted by TheWrap. Though its main focus is on arthouse and specialty programming, the venue also regularly features blockbusters and Q&A sessions with filmmakers.

In 2018, Mark Cuban and Todd Wagner sold the theater chain to Cohen Media Group for an undisclosed price, beating out high-profile competitors like Netflix and Amazon Studios. Landmark currently operates more than 30 locations with 195 screens. Those include Los Angeles’ Nuart Theater (which will soon undergo renovations) and the recently renovated Landmark Westwood.

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Reference-www.thewrap.com

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