You will be redirected back to your article in seconds

Laemmle Theatres Arthouse Chain No Longer Seeking Buyer

Los Angeles-based arthouse chain Laemmle Theatres has stopped seeking a buyer, four months after putting itself on the sales block amid slow sales.

Greg Laemmle, president of the 81-year-old exhibitor, announced the development Thursday. He told Variety that discussions with an unidentified buyer had reached an advanced stage but fell apart and that there has been an uptick in business recently, thanks partly to Martin Scorsese’s “The Irishman,” which will start streaming on Nov. 27.

“Our numbers have been improving lately,” he added. “We’ve done well with ‘The Irishman.’ There’s no question that people want to see good movies as they were intended on a big screen rather than waiting for it be available on streaming through Netflix.”

The privately held Laemmle circuit was launched in 1938 by Greg Laemmle’s grandfather Max Laemmle, and has been operated by the family since then. The chain’s sites are the Claremont 5 in Claremont, the Ahrya Fine Arts Theatre in Beverly Hills, the Glendale, the Monica Film Center in Santa Monica, the Noho 7 in North Hollywood, the Playhouse 7 in Pasadena, the Royal in West Los Angeles and the Town Center 5 in Encino.

Additionally, Laemmle plans to open a site next year in Newhall and is developing locations in Azusa and Bellflower.

Popular on Variety

“While there are risks to continue owning and operating the business, the reward of continuing was greater than the reward of selling,” Laemmle said. “Part of that reward is doing what we do.”

The chain closed its Music Hall theater in Beverly Hills on Thursday after 46 years as a Laemmle location. The three-screen location dated back to the late 1930s.

The world of arthouse theaters has been in flux. Mark Cuban and Todd Wagner sold the Landmark circuit a year ago to Cohen Media Group, an indie film company owned by real estate developer and cinephile Charles S. Cohen.

More Film

  • Richard Jewell

    Box Office: Clint Eastwood Suffers Worst Opening in Four Decades With 'Richard Jewell'

    Clint Eastwood might end up with a lump of box office coal after “Richard Jewell” sputtered in its domestic debut. Despite critical acclaim, the drama about the security guard falsely accused by the media for playing a part in the 1996 Olympics bombing ignited with a dismal $5 million from 2,502 theaters. It’s a disappointing [...]

  • (from left) Tom (Henry Golding) and

    Emilia Clarke's 'Last Christmas' Crosses $100 Million at Global Box Office

    Universal’s “Last Christmas,” a romantic comedy starring Emilia Clarke and Henry Golding, surpassed $100 million in global ticket sales. The milestone is a win for original fare, one that is especially impressive considering the movie was skewered by critics for its wacky twist ending. After six weeks in theaters, “Last Christmas” has earned $34.4 million [...]

  • DSCF0855.RAF

    'Jumanji 2' Rules Overseas Box Office With $85 Million

    Sony’s “Jumanji: The Next Level” powered international box office charts, collecting $85 million from 34 markets over the weekend. The action-packed sequel kicked off in North America with $60 million for a global start of $145 million. “Jumanji: The Next Level” debuted in a handful of foreign territories last weekend, bringing box office receipts to [...]

  • Rey (Daisy Ridley) in STAR WARS:

    Disney Plus Signs Exclusive Distribution Deal With Canal Plus in France

    Ahead of its launch in France on March 31, 2020, Disney Plus has signed an exclusive distribution agreement with Canal Plus Group, the country’s leading pay-TV company. The deal, which was first reported in the French newspaper Les Echos and confirmed by Canal Plus Group CEO Maxime Saada on his Twitter account, marks a new [...]

  • French movie actress Anna Karina smiles

    Anna Karina, French New Wave Star and Jean-Luc Godard Collaborator, Dies at 79

    French New Wave star Anna Karina, who served as a muse for Jean-Luc Godard and appeared in eight of his films, has died. She was 79. France’s culture minister, Franck Reister, announced her death in a tweet, as did her agent, Laurent Balandras, who attributed the cause as cancer. “Her gaze was the gaze of [...]

  • Frozen 2

    'Frozen 2' Sets Record as Disney's Sixth Movie to Hit $1 Billion in 2019

    “Frozen 2” is the sixth Disney movie this year to hit $1 billion globally, strengthening the studio’s sheer dominance over the box office. Those ticket sales extend the benchmark Disney set over summer, with five other films — “Avengers: Endgame,” “Aladdin,” “Toy Story 4,” “The Lion King” and “Captain Marvel” — joining the billion-dollar club [...]

More From Our Brands

Access exclusive content