Amazon tries to become more powerful in the cinema industry and it is aiming for Landmark Theaters, a chain of brick-and-mortar cinema, focused on independent and foreign films, according to Bloomberg.
So far, Amazon and Landmark decline to comment, but the move would be a ”classic” for Jeff Bezos company that started online and it is going for the physical shops, libraries and now cinemas.
Amazon is not the only one trying to buy Landmark business from Wagner/Cuban Cos., a company that is backed by billionaire Mark Cuban and Todd Wagner. According to the source, the owners are in talks with investment banker Stephens Inc. for a sale, so there is no certainty over the future owner of the cinemas.
The theaters would be another expansion for Amazon in the media of many forms, that includes today a film and TV studio and music services. Landmark theaters are in 27 US markets, a total of 50 theaters, with high profile locations in New York, Philadelphia, Chicago, Los Angeles and San Francisco and include coffee bars or lounges.
The e-commerce company is already spending billions of dollars every year on movies and TV shows. The biggest acquisition they made was Whole Foods chain of stores for USD 13.7 billion, a move that brought the online into the brick-and-mortar world.
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