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» Cinematour Forum   » Cinemas in the News   » Pacific Theatres sells most of its locations (Page 1)

 
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Author Topic: Pacific Theatres sells most of its locations
Jeff Arellano
Senior Member

Posts: 685
From: Monterey Park, CA
Registered: Jun 2003


 - posted February 20, 2008 10:05 AM      Profile for Jeff Arellano   Email Jeff Arellano         Edit/Delete Post 
http://www1.pressdemocrat.com/article/20080215/NEWS/802150326/0/NEWS01

quote:
Rohnert Park theater changing hands
Old and new owners both based in L.A. area; most Stadium 16 employees expected to stay

By STEVE HART
THE PRESS DEMOCRAT

Pacific Theatres is selling its Rohnert Park movie multiplex to a Southern California film exhibitor, part of a $69.3 million deal for 15 of its 29 theaters in California and Hawaii.

ADVERTISEMENT

Reading International, which owns or manages 44 multiplex cinemas in the United States, Australia and New Zealand, is expected to take over Pacific's Rohnert Park Stadium 16 later this year.

"As is company policy, we cannot comment on any deal until it is finalized," said Suzanne Goldstyn, a spokeswoman for Los Angeles-based Pacific Theatres.

The deal is expected to close Feb. 22, according to a filing Thursday with the Securities and Exchange Commission.

The theater and real estate development company announced plans last year to sell its cinema properties outside the greater Los Angeles area.

Most of the Rohnert Park theater's 48 employees are expected to stay, Goldstyn said Wednesday.

"It's common practice in the theater exhibition industry for the new operators to employ most of the employees," she said.

Officials at Reading International did not return a call seeking comment Thursday. The company, based in the Los Angeles suburb of Commerce, previously announced it had a tentative agreement to buy Pacific's theaters outside of Los Angeles.

Pacific Theatres was a major movie exhibitor in Northern California in the 1990s, but it has since sold or closed most of its Bay Area theaters. In recent years, the family owned company has shifted its focus to retail and office projects.

The Rohnert Park multiplex is its last cinema location in the Bay Area.

The company opened Petaluma's eight-screen Pacific Theatre on North McDowell Boulevard in 1990 and closed it in 2001, converting the site to office and retail.

Pacific opened the Stadium 16 on Rohnert Park Expressway in 1998.

In the 1990s, Pacific owned or had interests in multiplex movie theaters in Marin County, San Francisco and the East Bay, said Dave Corkill, owner of Cinema West, a Petaluma-based chain with 13 theaters in Northern California. Corkill and other investors started the Rohnert Park multiplex project and sold it to Pacific shortly before it opened in 1998.

Pacific is consolidating its theater business as a new generation of family members takes over the company, Corkill said.

"They're focused more toward real estate development," he said.

Pacific was founded in 1946 by William Forman and is still controlled by his family. Over the years, it has developed drive-in, walk-in, multiplex and megaplex theaters, including Hollywood's Cinerama Dome, the Galleria in Sherman Oaks, the Paseo in Pasadena and the Grove in Los Angeles.

Pacific will retain ownership of those theaters and its others in the Los Angeles area.

The 15 theaters being sold to Reading International are in San Diego, Hawaii, Rohnert Park and Bakersfield.

Of Reading's 44 theaters, 35 are in Australia and New Zealand. The deal with Pacific would give it a larger foothold in the United States.

It is buying a group of theaters that generate $81 million in annual revenue from 181 screens, according to Reading. The deal is dependent on financing, the company said.

Reading's theaters operate under the Reading Cinemas, Angelika Film Center, City Cinemas, Berkeley Cinemas and Rialto Cinemas names. The publicly held company reported $120 million in revenue in 2007.

It has no ownership stake in Santa Rosa's Rialto Cinemas, a five-screen theater on Summerfield Road owned by Ky Boyd. Rialto, an Italian word that is used to describe a theater district, is a name used by a number of film exhibitors.

You can reach Staff Writer Steve Hart at 521-5205 or steve.hart@pressdemocrat.com.


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Scott D. Neff
Tour Guide

Posts: 661
From: San Francisco, CA
Registered: Feb 2003


 - posted February 20, 2008 06:48 PM      Profile for Scott D. Neff   Email Scott D. Neff         Edit/Delete Post 
To believe I helped design the Rohnert Park 16. Was supposed to be the "Expressway 16" and have a Merry-go-Round in the lobby, and an IMAX, and a CAFE... I was supposed to run in had it not been sold to Pacific. And now 10-years later they don't want it anymore.

Le-sigh.

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Ken Layton
Member

Posts: 87
From: Olympia, WA
Registered: Oct 2004


 - posted February 20, 2008 08:52 PM      Profile for Ken Layton   Email Ken Layton         Edit/Delete Post 
They still operate the Valley 6 drive in here in Washington state.

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Scott D. Neff
Tour Guide

Posts: 661
From: San Francisco, CA
Registered: Feb 2003


 - posted February 21, 2008 09:37 AM      Profile for Scott D. Neff   Email Scott D. Neff         Edit/Delete Post 
Seriously? Adam and I stopped by there and they let us take photos and everything, something Pacific hasn't allowed us to do in the past.

Maybe they still own the property and lease the business?

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Ken Layton
Member

Posts: 87
From: Olympia, WA
Registered: Oct 2004


 - posted February 21, 2008 08:35 PM      Profile for Ken Layton   Email Ken Layton         Edit/Delete Post 
I understand the Foreman's still control the Valley 6.

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Dan Roben
Member

Posts: 155
From: Seattle, WA
Registered: May 2003


 - posted February 21, 2008 11:39 PM      Profile for Dan Roben           Edit/Delete Post 
He definitely is, but for how long? Each year, rumors persist that it will be final year for one of the last remaining Drive Ins in the Seattle area. The only other ozoners around here are SRO's Puget Park and the excellent Rodeo Drive In located near Bremerton.

The Valley 6 is the last of the United Drive-Ins circuit that was wholly owned by Pacific Theaters. Back in the day, United had almost all the Seattle area drive ins, including the Aurora, Sno-King, Everett Motor Movie, Duwaumish, Midway, El Rancho, Kenmore, and two or three in Tacoma whose names escape me. They also operated some regular theaters ("walk-ins" they called them) including the Cinerama, Ridgemont, Varsity, Southcenter and (I think) the Tacoma Mall, when it first opened.

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Scott D. Neff
Tour Guide

Posts: 661
From: San Francisco, CA
Registered: Feb 2003


 - posted February 22, 2008 12:00 AM      Profile for Scott D. Neff   Email Scott D. Neff         Edit/Delete Post 
Interesting. I always forget about how various family members of chains continue to own certain parts of them even when the actual company claims not to. Like the Naifys and their involvement in UA and also on their own.

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Mark Campbell
Member

Posts: 437
From: Seattle, WA
Registered: Oct 2004


 - posted February 23, 2008 02:32 PM      Profile for Mark Campbell   Email Mark Campbell         Edit/Delete Post 
Dan, the Tacoma Area drive-ins were:
The Starlight, the Auto-view and the Fife.

For a while SRO/Cineplex was running the Valley 6. But then it went back to United at some point...

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Geoff Jones
New Member

Posts: 7
From: Novato, CA
Registered: Nov 2006


 - posted March 12, 2008 01:46 PM      Profile for Geoff Jones   Author's Homepage           Edit/Delete Post 
Have you checked out the website for Reading International? Not one word about providing quality entertainment.

They do state:
quote:
Unlike other cinema companies, we are not compelled to continue and redevelop our cinema assets, where higher and better uses become available for such properties.
Now the Rohnert Park 16 is nothing special (sorry), but Reading International appears to be a company devoted to buying cinemas and tearing them down to make something else when their land becomes valuable.

It makes me very sad.

Jonesy
www.OnTheBigScreen.net

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Matt Lutthans
Member

Posts: 51
From: Marysville, WA
Registered: Dec 2003


 - posted April 06, 2008 03:33 PM      Profile for Matt Lutthans   Email Matt Lutthans         Edit/Delete Post 
Ken, I'm not sure that United (which owns the Valley 6) is still connected with Pacific Theatres. They were many years ago, but I think the cord's been cut.

Matt Lutthans
Marysville, WA

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Michael R. Rambo Jr.
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Posts: 36
From: Bensalem, PA
Registered: Jun 2005


 - posted June 21, 2008 05:23 PM      Profile for Michael R. Rambo Jr.   Email Michael R. Rambo Jr.         Edit/Delete Post 
I believe that most of Pacific Theatres, back in the 1960's, also operated, at least on the East coast, under the Pacific East and RKO Stanley Warner names.

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Jeff Arellano
Senior Member

Posts: 685
From: Monterey Park, CA
Registered: Jun 2003


 - posted July 03, 2008 05:30 PM      Profile for Jeff Arellano   Email Jeff Arellano         Edit/Delete Post 
Pacific Theatres just closed down one of their older multiplexes. The Lakewood Center South 9 closed probably on Sunday. It was an odd theatre, built in the former Buffum's department store that closed in 1991.

This theatre is not to be confused with the better, stadium Lakewood Center North 16 up parking lot.

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Mark Campbell
Member

Posts: 437
From: Seattle, WA
Registered: Oct 2004


 - posted July 03, 2008 07:11 PM      Profile for Mark Campbell   Email Mark Campbell         Edit/Delete Post 
Darn! That was on my list of places to check out when I was next in LA. I do want to see the the 16 screener to the north because its core it is a twin of the old Tacoma Mall Twin (pre-twinning).

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Jeff Arellano
Senior Member

Posts: 685
From: Monterey Park, CA
Registered: Jun 2003


 - posted July 03, 2008 07:39 PM      Profile for Jeff Arellano   Email Jeff Arellano         Edit/Delete Post 
I went there a couple times, and a very odd theatre. The main theatres were located in what was the actual department store.

You entered the theatre in the center next to what was the department store. The lobby had a very low ceiling and it was cramped. The concession was in the center of the lobby. I want to say the lobby and east hall were originally stores next to the department store. Then there were 5 theatres down the left and 4 up the right. The 4 had a ramp up to get you above floor level. You could tell that they were not original. This made the theatre screens against what was once the original outer walls. They used the main doors of the department store as a hall exit. The theatres themselves were dull and a very high ceiling due to the fact the dept store was multi leveled.

The small theatres down the other hall were shoeboxes. Not good for seeing a movie.

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Mark Campbell
Member

Posts: 437
From: Seattle, WA
Registered: Oct 2004


 - posted July 03, 2008 08:03 PM      Profile for Mark Campbell   Email Mark Campbell         Edit/Delete Post 
Sounds like exactly the kind of train wreck like to visit (when I don't care about the movie I'm seeing). Seemed like most of the films that played there had played out or were sharing screens with the 16. Kind of odd in that AMC Burbank way where it seems there are far more screens from one chain than necessary and growth wast not planned well. However, population-wise those areas are very dense.

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