The indie distributor Cohen Media Group has bought the Los Angeles-based art-house Landmark Theatres chain for an undisclosed sum from Mark Cuban and Todd Wagner’s 2929 Entertainment, it was reported Wednesday.
Cohen said it will retain Landmark’s senior management team, L.A. Biz reported.
Landmark had been looking for a buyer for months, reportedly drumming up interest from Netflix and Amazon.
The Landmark chain operates 252 screens in 27 markets, including Los Angeles, New York, Chicago and San Francisco.
Acquired by 2929 Entertainment from Oaktree Capital in 2003, Landmark distinguished itself among exhibitors by being among the first to introduce non-conventional seating such as couches and love seats, and to install DCP digital projectors, according to L.A. Biz. The chain programs a variety of films including commercial, independent, foreign-language and documentary films.
Founded in 2008 by billionaire real-estate developer Charles Cohen, Cohen Media Group has released Academy Award-nominated films such as “Timbuktu,” “Mustang” and last year’s foreign-language winner “The Salesman,” as well as restored classic films such as the Merchant Ivory collection and Buster Keaton catalog.
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