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Broadcast.com Founders Mark Cuban, Todd Wagner Buy Landmark Theaters

Authored by Mark Hefflinger on September 25, 2003 - 10:39am.
Los Angeles -- The two co-founders of webcaster Broadcast.com, which was sold to Yahoo for $5.7 billion in 1999, announced on Thursday that they have reunited to acquire Landmark Theaters, the nation's largest art-house theater chain. Production company 2929 Entertainment, which was co-founded by Broadcast.com co-founder Todd Wagner, and partner and former Broadcast.com CEO Mark Cuban, have purchased the financially struggling property from Oaktree Capital Management. "Our goal is to aggressively leverage our ability to produce our own films, promote and display them on [Mark Cuban-owned HDTV-based network] HDNet and HDNet Movies and exhibit them at Landmark," said Wagner. "We think this acquisition provides a unique opportunity to make a significant impact in the art and independent film, HDTV production and digital exhibition communities." The partners also plan to eventually introduce digital projection systems into Landmark Theater locations.
http://www.2929entertainment.com 
http://www.hd.net 
http://www.landmarktheatres.com

tags: Mark Cuban | Deal | Broadcast | Founders | Todd Wagner | Landmark Theaters |



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