Amazon may buy Landmark Theaters to screen its original movies

Brittany A. Roston - Aug 16, 2018, 4:24 pm CDT
Amazon may buy Landmark Theaters to screen its original movies

Amazon may be gearing up for a big acquisition, according to a new report, and it involves Landmark Theaters. Sources talking about the alleged plan say Amazon is eyeing a movie into the cinema industry in a big way, battling competitors in a mission to purchase the theater chain. Assuming such an acquisition takes place, this would give Amazon dozens locations to screen its movies.

The information comes from Bloomberg via sources who wish to remain anonymous. Landmark Theaters is reportedly working with the investment banker Stephens Inc on a potential sale, and Amazon is alleged to be competing with other companies that want to acquire the theater chain. Those other companies weren’t named.

Landmark Theaters is currently spread throughout 27 markets with more than four dozen theaters in them. The company focuses on screening foreign films and indie movies and would give Amazon screens in some of the nation’s biggest cities, including New York, LA, and Chicago.

Presumably Amazon would use these theaters to distribute its original movies, giving it a resource its biggest competitor, Netflix, lacks. Both companies have heavily invested in original content, and Amazon in particular has demonstrated an eagerness for expanding into physical locations.

The online retailer has opened its own physical book stores in certain locations, as well as grocery stores with its Amazon Go locations and Whole Foods acquisition. Amazon hasn’t commented on the report and there’s no word on what, exactly, the company has planned in the case of an acquisition. Whether Prime customers will see unique benefits in such an arrangement is probable, but sources caution the deal may not go through.

SOURCE: Bloomberg

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