Amazon is reportedly looking to acquire Landmark Theaters, which operates around 50 theaters around the country. This would mark Amazon’s first foray into actual movie theaters. Since Amazon already makes its own movies and TV Shows through Amazon Studios, this step wouldn’t be all that surprising for Amazon. Currently, the ecommerce giant is vying with a slew of other suitors to buy Landmark Theaters from Wagner/Cuban Cos., which is owned by Mark Cuban.
Landmark Theaters is known for its unique look and offerings. Some of its more high-end locations also include coffee bars and lounges, which sets them apart from other theaters like AMC or MJR. If Amazon is able to get this deal done, it would continue Amazon’s expansion into other forms of music. It would also be a perfect fit for Amazon, seeing as Landmark Theaters is already well-known for its independent and foreign films. There are over 50 theaters in about 27 markets. These include New York City, Philadelphia, Chicago, Los Angeles and San Francisco, among others. RBC Capital Markets LLC analyst, Leo Kulp said that “this is probably a move to get broader distribution of film content, Netflix had been discussed as a potential buyer of Landmark for a similar reason.”
Seeing Amazon and Netflix looking to purchase Landmark Theaters, is probably a good thing for Wagner and Cuban companies. However, it would make a bit more sense for Netflix, since it is spending so much money on its own content, and creates movies that go straight to its streaming service. While Amazon does bring its own movies to theaters already. It’ll be interesting to see what actually happens with Landmark Theaters, it could end up being bought by another company or buyer in the long run. But it’ll likely go for a pretty good price for the current owners of Landmark Theaters.