The Real Deal New York

Amazon’s rumored bid for movie theater chain opens up possibility for disruption

The e-tailer's rumored interest in a movie theater chain gave cinema stocks a bump this week
August 18, 2018 03:00PM

(Credit: Aranami via Flickr)

Nights at the movies may be the next brick-and-mortar business ripe for disruption.

This week, Amazon was reportedly in the running to acquire Landmark Theatres, an indie movie theater chain, which would have marked the first time a major tech company showed interest in the physical business of going to the movies, according to Quartz. Amazon denied having any interest in the chain.

Landmark Theatres operates about 50 locations nationally, including theaters in New York, San Francisco and Chicago. The chain’s venues include upscale lounges and cafes and BisNow reports the company is worth about $175 million.

Amazon’s rumored interest sent shares of the three biggest movie chains–AMC Theaters, Cinemark and Marcus Corp–up 1 to 4 percent on Thursday. [Quartz]Erin Hudson