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Amazon In Running To Acquire Landmark Movie Chain (bloomberg.com)
According to Bloomberg, Amazon is in the running to acquire Landmark Theaters, a chain focused on independent and foreign films with more than 50 theaters in 27 markets, including high-profile locations in New York, Philadelphia, Chicago, Los Angeles, and San Francisco. From the report: Landmark's theaters are known for art-house fare, and some high-end locations include coffee bars or lounges, setting them apart from the typical movie experience. "This is probably a move to get broader distribution of film content," said Leo Kulp, an analyst with RBC Capital Markets LLC. "Netflix had been discussed as a potential buyer of Landmark for a similar reason." The possible move was viewed positively by investors, who saw it as a sign that Amazon wasn't looking to disrupt moviegoing and was supportive of the theatrical experience, Kulp said.
They probably just want a theater to show original movies in so that they are eligible for awards (that then attract new subscribers). Any increase in profitability is purely coincidental.
Maybe, just maybe, Amazon decided to do something right by the people of Seattle. Before Mark Cuban took over, Landmark was the best movie chain in town, with a whole suite of indie-minded theaters all over town; now, they're nearly all shut down, awaiting for the inevitable condos to sprout up over their ruins. I've been longing for some deep-pocketed local to pick up the Harvard Exit or Guild 45th and get them running again, as a hobby if not a major business opportunity.
--- Work, worry, consume, die. It's a wonderful life. -- Bill Griffith