Yesterday it was announced that Amazon is in the running to acquire Landmark Theaters. The move seems to be an effort to expand their business from a purely online into stores right in your hometown according to an analyst with RBC Capital Markets LLC.
Landmark Theaters first launched in 1974 and now has 56 theaters in 27 markets around the United States. They are also known for owning a list of historic theaters in cities from Dallas to Los Angeles. Currently, Landmark Theater is co-owned by Todd Wagner and Mark Cuban and has reportedly been up for sale for some time now as they face strong competition from larger theaters like AMC and online services like Netflix and Amazon.
Recently Amazon has been trying to push their original movies into theaters. Recently Amazon has seen pushback from their plans to have movies in the theaters and stream them shortly after online.
Amazon and Landmark have declined to comment on this story.
Source: Bloomberg
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