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» Cinematour Forum   » Cinemas in the News   » Dallas: New owner for AMC Grand??

   
Author Topic: Dallas: New owner for AMC Grand??
John Robert
Member

Posts: 135
From: Addison, TX
Registered: Jan 2005


 - posted June 20, 2010 09:31 AM      Profile for John Robert   Email John Robert         Edit/Delete Post 
Dallas Observer 'Unfair Park' blog posting

quote:
KC-Based Owner of "Historic" Grand 24 Says It's Already Found Tenant to Take the Space

By Robert Wilonsky, Tuesday, Jun. 15 2010 @ 8:20AM

​Three weeks ago, AMC Entertainment Inc. sent word that 15 years after it revolutionized the big-screen business with the 4,960-seat Grand 24 off Stemmons Freeway and W. Northwest Highway, it was leaving the building. Reason: rent dispute with its Kansas City-based landlord Entertainment Properties Trust. One week after that, EPT's head of investor relations told Unfair Park that the Grand remains a viable location and that the company has every intention of finding a new theater operator. Said John Weis, hey, no biggie: "Tenants come and go."

Now, EPT is insisting it has, in fact, found a new tenant. It doesn't name names. It doesn't offer specifics. It doesn't say much, actually -- this new development was, in fact, buried within a news release late yesterday concerning EPT's acquisition of 12 theaters in Colorado, California, Indiana and Texas currently occupied by Plano-based Cinemark. But, at the end of the third paragraph, we find this breaking news:

The Company has entered into a letter of intent with another operator for the renovation and re-lease of the Grand 24 in Dallas, Texas, which AMC elected not to renew.

To which David Brain, EPT's CEO, adds: "We are looking forward to rejuvenating the historic Grand 24 property with a new tenant." I've left a message for Weis to see if he can offer more specifics.


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David Pulido
New Member

Posts: 27
From: Fort Worth, TX
Registered: Aug 2010


 - posted August 08, 2010 03:04 AM      Profile for David Pulido   Email David Pulido         Edit/Delete Post 
Is there any word on which company is taking over the Grand? It seems Cinemark is doing all it can to maintain power in their home narket. I think they would be a prime candidate for the Grand.

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Scott D. Neff
Tour Guide

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


 - posted August 10, 2010 10:30 AM      Profile for Scott D. Neff   Email Scott D. Neff         Edit/Delete Post 
My guess would be Cinemark as well... though I bet RAVE might enjoy running a theatre with such a reputation behind it.

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Adam Martin
Administrator

Posts: 1090
From: Dallas, TX
Registered: Feb 2003


 - posted August 10, 2010 08:43 PM      Profile for Adam Martin   Author's Homepage   Email Adam Martin         Edit/Delete Post 
Hell, at this point, it might even be Regency.

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David Pulido
New Member

Posts: 27
From: Fort Worth, TX
Registered: Aug 2010


 - posted August 12, 2010 02:29 PM      Profile for David Pulido   Email David Pulido         Edit/Delete Post 
DFW Metroplex has become a battleground. AMC vs Regal. Rave vs Cinemark. Starplex vs Star. I think Regal would like another Dallas location as it is basically down to the Galaxy 10 on the Dallas-Garland border and Keystone in Richardson.

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John J. Fink
Member

Posts: 123
From: Buffalo, NY
Registered: Aug 2005


 - posted August 13, 2010 01:17 PM      Profile for John J. Fink   Author's Homepage   Email John J. Fink         Edit/Delete Post 
I'd be thankful for choice - I had once been in Denver for a weekend and found it to be like that as well: Harkins, AMC (and Kerasotes), Regal, Cinemark (Century) and more. (for the record we chose Harkins which was I found to be excellent - I wonder if they're considering a DFW expansion)

Many other towns are dominated by two or three chains - in Buffalo the only game in town for stadium seating is Regal. AMC barely has a presence, and we have a very good local chain that isn't the most modern even if they are consistently good in terms of service and presentation, Dipson.

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David Pulido
New Member

Posts: 27
From: Fort Worth, TX
Registered: Aug 2010


 - posted August 13, 2010 03:32 PM      Profile for David Pulido   Email David Pulido         Edit/Delete Post 
Harkin's considered putting in a theater at the Alliance Towne Center development after Regal passed on it cause it was to close to their Fossil Creek location. But, Harkin's passed cause it was to close to their Southlake Towne Center location. AMC also passed. Cinemark is on the official development plan since 2005 but there has been no official word since.

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Brad Miller
Member

Posts: 122
From: Dallas, TX
Registered: Feb 2003


 - posted September 18, 2010 12:13 PM      Profile for Brad Miller   Author's Homepage   Email Brad Miller         Edit/Delete Post 
There is just one thing I'll bet these new owners are forgetting. Its going to take a LOT of money and effort to turn the Grand into a good theater due to all of the design flaws.

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