Loews Cineplex
Entertainment was formed in 1998 with the merger of two theatre
circuits, Loews Theatres and the Cineplex Odeon Corporation,
to create one of the largest motion picture exhibition companies in
the world.
Loews Theatres, the oldest
theatre circuit in North America, was founded in 1904 by Marcus
Loew, whose first “nickelodeon” in a rented store evolved into the
Loews Theatres circuit. By the start of World War I, the young
chain of theatres had locations throughout the U.S. In order
to supply his theatres with new film product, Loew purchased a
failing silent movie production studio named Metro Company. In
1924, Loew joined forces with the legendary Louis B. Mayer and
Samuel Goldwyn to form the Metro-Goldwyn-Mayer
studio.
With the supply of film secured
and the public’s love for Hollywood entertainment established, Loews
Theatres continued to grow from coast to coast throughout the 1930’s
and ‘40’s. In 1954, the Department of Justice ruled that
theatre circuits such as Loews, Paramount and Warner Brothers, which
engaged in film production and distribution as well as the operation
of theatres, must divest their studio facilities from their theatre
chains. Thus, Loews Theatres and MGM became separate entities,
and the theatre circuit continued on its own.
In the years that followed,
Loews Theatres expanded and was the genesis of what became the Loews
Corporation. In 1985, the Loews Corporation sold its 350
screen circuit to a privately held company. Soon after, the
theatre chain was purchased by Tri-Star Pictures which in turn
merged with the Entertainment Business Sector of Coca Cola, forming
Columbia Pictures Entertainment. It was during this time that
Loews Theatres experienced its greatest growth, acquiring four
regional theatre circuits and building many new multiplexes, more
than doubling in size to almost 1000 screens. In 1989, Coca
Cola sold Columbia Pictures Entertainment to the Sony Corporation of
America.
Cineplex Odeon Corporation was
founded in 1979 with the opening of its first theatre complex, a 21
screen megaplex at Toronto’s Eaton Centre. Throughout the
1980’s, the company expanded through new construction and
through acquisitions of regional theatre circuits in Los
Angeles, Chicago, New York, Washington DC and
Seattle.
In 1986, Cineplex secured a
significant investment in the corporation from Universal Studios
Inc. and subsequently built its first flagship theatre in the U.S.,
an 18 screen complex at Universal’s “City Walk” in Los
Angeles. The theatre has become one of the highest grossing
theatres in North America.
Cineplex Odeon Corporation
merged with Loews Theatres in May 1998, creating Loews Cineplex
Entertainment, one of the world’s largest motion picture theatrical
exhibition companies. Loews Cineplex Entertainment’s
divisions include Loews Cineplex United States, Cineplex Odeon
Canada and Loews Cineplex International.
Today, Loews Cineplex
Entertainment operates 2926 screens in 385 locations primarily in
major cities throughout the United States, Canada and Europe under
the Loews, Cineplex Odeon and Sony names. In addition, Loews
Cineplex Entertainment is a co-venture partner in Magic Johnson
Theatres and Star Theatres. Internationally, the theatre circuit is
a partner in Yelmo Cineplex of Spain, De Laurentiis Cineplex of
Italy, Odeon Cineplex of Turkey and Far East Cineplex of
Vietnam. |