Report: Amazon Is Trying to Buy More Than 50 Movie Theaters
Amazon has already infiltrated supermarkets, and now discussion has it the company is looking to practice the same with picture theaters.
Bloomberg, citing unnamed sources "familiar with the situation," this calendar week reported that the online retail giant is trying to buy Landmark Theaters from current owners Todd Wagner and Mark Cuban. Landmark operates more than 50 movie theaters in 27 markets, and co-ordinate to its website is "the nation's largest theater chain dedicated to exhibiting and marketing independent film."
"This is probably a move to get broader distribution of motion picture content," RBC Upper-case letter Markets LLC Annotator Leo Kulp told Bloomberg. "Netflix had been discussed equally a potential buyer of Landmark for a similar reason."
The report notes that while the deal could all the same fall through, Amazon would likely pay a relatively depression cost for Landmark compared then some of its other acquisitions. Wagner and Cuban purchased Landmark in 2003 for around $80 million.
For comparison, Amazon paid a reported $i billion for habitation security camera vendor Ring and a whopping $13.7 billion for Whole Foods.
Could the next Amazon Prime perk exist discounted tickets at Landmark Theatres? We'll just have to await and see. Acquiring the theater concatenation would also give the company a directly distribution pipeline for its Amazon Studios content, which includes not only Amazon Prime Video Tv shows merely a growing stable of original movies. In the past few years, Amazon Studios has produced and distributed films such as The Large Ill, Manchester by the Body of water, and The Lost City of Z.
Amazon declined to comment when contacted past PCMag.
Post-obit its purchase of Whole Foods Market last twelvemonth, Amazon started offer Prime members special discounts at the supermarket chain, including an extra 10 pct off certain sale items plus exclusive weekly deals on select items. Amazon beginning launched this Prime number do good in Florida stores this June, and recently expanded it nationwide. Prime number members tin can also now take reward of 30-infinitesimal Whole Foods grocery pickups and ii-hour deliveries in certain cities.
Besides the Whole Foods perks, a $12.99 monthly or $119 yearly Prime subscription gets you free, two-day shipping on Amazon.com purchases; unlimited access to Prime number Video, Prime number Music, and Prime number Reading; unlimited photo storage via Prime Photos; and early access to Amazon's Lightning Deals.
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Source: https://sea.pcmag.com/amazon-instant-video-2015/28915/report-amazon-is-trying-to-buy-more-than-50-movie-theaters
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