For the Deadline record, the Laemmle family will not be selling their 81-year old Los Angeles arthouse chain and will remain in control. We first broke the news that they were looking at suitors ba…
For the Deadline record, the Laemmle family will not be selling their 81-year old Los Angeles arthouse chain and will remain in control. We first broke the newsToday, we also exclusively learned that the Music Hall in Beverly Hills is technically not closing. Laemmle will no longer lease the theater, rather the venue is expected to open sometime soon under the new management of former employees possibly as soon as Next Friday.
Several sources had been telling me over the last month that Laemmle was on the verge of selling to Reading Cinemas out of NY which owns and operates the Angelika Film Center . What the Laemmles have that most major theater chains do not, are the property deeds to most of their locations, including the upcoming Newhall venue down the street from me. With property ownership comes the power to reap one’s own profits.
The Newhall venue is located on the historic main street not far from Melody Ranch where Quentin Tarantino shotThe Newhall site remained under construction during the sales talks and will offer Dolby 5.1 sound, digital projection, 7 auditoriums, lots of leg room and possibly beer and wine . Plush seats are still being considered, but the location is expected to be more luxurious than their North Hollywood site, on par with Glendale.
Q4 this year has been a money-maker for Laemmle, another factor for keeping their doors open. Despite the dry spell at the indie B.O. throughout this year, pics likehave bounced it back. And get this, even Netflix is an ample provider of income whether they’re four-walling or providing generous rental terms . Separately, Indie B.O. sources tell us thatalone is approaching a national B.O.
The Laemmle circuit was started in 1938 by Max Laemmle, and it has spanned three generations, including Max’s son Robert, and Robert’s son, Greg, now operating the business. Robert’s father Max and uncle Kurt were cousins of Universal Pictures founder Carl Laemmle. Robert bought his first movie theater in Highland Park of Los Angeles.
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