- Cinemark Theatres
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Cinemark Holdings, Inc. 
Type Public company (NYSE: CNK) Founded 1984 Headquarters Plano, Texas Number of locations 431[1] Key people Lee Roy Mitchell, co-founder and Chairman of the Board
Alan Stock, CEO
Tim Warner, President & COOWebsite cinemark.com Cinemark Theatres is a chain of movie theatres owned by Cinemark Holdings, Inc. (NYSE: CNK) in North and South America and Taiwan. It has its headquarters in Plano, Texas.
Cinemark's Missions Statement Reads as follows: "Cinemark is the organization where safety, respect, care, and concern for the employee and customer is unsurpassed. Therefore, it is the preferred international motion picture exhibitor, and achieves investors' goals."
As of March 31, 2011, the Cinemark circuit is the third largest in the United States with 293 theatres and 3,825 screens.[2] They are the most geographically diverse circuit in Latin America with 139 theatres and 1,125 screens in 13 countries.. Cinemark also holds the spot of second largest circuit internationally.
Cinemark operates theaters under several brands, including its flagship Cinemark, Tinseltown USA, Century and CinéArts[3]—theaters which feature independent films.
The Cinemark brand's mascot, seen in policy trailers since 1988, is a cat named "Front Row Joe". The other characters found in policy trailers include "Popcorn Penny", "Elton", and "Clyde". While Front Row Joe and Popcorn Penny are still featured in some in-theater advertising, other characters have been retired.
Contents
History
Cinemark Theatres in Rockwall, Texas.
Cinemark was started in 1984 by Lee Roy Mitchell as a chain of theatres in Texas, Utah, and California. Through new theatre construction and acquisitions, it became the third largest theatre chain in the United States and the second largest theatre chain in the world. In 2009, Cinemark introduced its own large screen concept, known as XD, and has plans to install it in many well-performing locations around the world.
United States Department of Justice lawsuits
In the 1990s, Cinemark Theatres was one of the first chains to incorporate stadium-style seating into their theatres.[4] In 1997, several disabled individuals filed a lawsuit against Cinemark, alleging that their stadium style seats forced patrons who used wheelchairs to sit in the front row of the theatre, effectively rendering them unable to see the screen without assuming a horizontal position. The case was heard in El Paso district court as Lara v. Cinemark USA, where a judge ruled that the architecture of Cinemark's theatres violated the Americans with Disabilities Act. The ruling was later overturned by the Fifth Circuit Court of Appeals, which ruled that Cinemark only had to provide an "unobstructed view" of the screen, and that since handicapped patrons' view was only awkward and not actually obscured, Cinemark was not violating the law.[5]
In response, the United States Department of Justice filed their own suit against Cinemark while appealing the appellate court's decision. The DOJ argued that, while Cinemark was not technically violating the ADA, it was nevertheless discriminating against handicapped patrons by relegating them to the worst seats in the auditorium.[6] Cinemark responded by filing a lawsuit against the Department of Justice, alleging misconduct on the DOJ's behalf.[7] Cinemark's lawsuit was thrown out, and the Department of Justice proceeded with its lawsuit. Cinemark ultimately agreed to settle out of court before the court came to a ruling, agreeing with the DOJ that it was in the company's best interest to end litigation before a ruling was issued.[6] Per the terms of the settlement, Cinemark agreed to renovate all existing theatres to provide wheelchair-using and other handicapped patrons access to rows higher in its theatres, and also agreed that all future theatres would be constructed so as to allow handicapped patrons better access to higher rows. In turn, the Department of Justice agreed not to bring further litigation against the company in relation to the architecture of stadium seating as it applies to the ADA.[6]
Century Theatres acquisition
In 2006, Cinemark purchased Century Theatres with a combination of cash and stock bonds. This acquisition added over 80 theatres and many more screens. Some of these theatres were subsequently shut down either being phased out as under performing or replaced with new complexes. The only theatres not transferred as part of the merger were Century 21, Century 22, Century 23 and all of the drive ins. These locations transferred back to Syufy Enterprises.
Gay marriage
In 2008, CEO Alan Stock donated $9,999 toward the successful passage of California's Proposition 8, an initiative restricting the definition of marriage to opposite-sex couples and overturning the California Supreme Court's ruling that same-sex couples have a constitutional right to marry. An ensuing campaign, launched by opponents to the Prop 8 passage, encouraged patrons to see the Gus Van Sant film Milk, starring Sean Penn in the title role of gay-rights activist Harvey Milk, at a competing theater in protest.[8] Others called for a more general boycott.[9]
Muvico Theaters purchases
In 2009, in order to save the company, Muvico Theaters sold four theatres to Cinemark.[10] The theatres were Arundel Mills Egyptian 24 in Hanover, MD; Paradise 24 in Davie, FL; Palace 20 in Boca Raton, FL; and Boynton Beach 14 in Boynton Beach, FL. Arundel Mills was often one of the highest-grossing theaters in the nation for box-office debuts, the theater has been part of what makes Arundel Mills a top tourism destination in the state of Maryland.[11]
References
- ^ Cinemark Holdings, Inc. Reports Q1 2011 Adjusted EBITDA of $102.7 Million on Revenues of $483.1 Million
- ^ Natoonline.org
- ^ Cinemark.com, CinéArts
- ^ Cinemark Brings Stadium Seating to the Valley. CineMark press release, August 13, 1998. Accessed 3 June 2009.
- ^ "Appellate Court OKs Stadium-style Movie Seating; Cinemark, USA Inc. Wins ADA Case". Business Wire, April 11, 2000. Accessed 3 June 2009.
- ^ a b c US Department of Justice vs. Cinemark
- ^ Cinemark v United States
- ^ Cieply, Michael. "Activists Seek to Tie ‘Milk’ to a Campaign for Gay Rights". The New York Times, November 22, 2008. Accessed 3 June 2009.
- ^ Moore, Roger. "Cinemark CEO donates to 'Proposition Hate': boycott follows". Orlando Sentinel, November 13, 2008. Accessed 3 June 2009
- ^ bigscreen.com (2009-03-21). "Muvico Sells Four Theaters in Florida and Maryland to Cinemark". http://www.bigscreen.com/journal.php?id=1441. Retrieved 2010-10-15.
- ^ hometownannapolis.com (2009-03-22). "Muvico sells lavish Arundel Mills theater". http://www.hometownannapolis.com/news/bus/2009/03/22-42/Muvico-sells-lavish-Arundel-Mills-theater.html?ne=1. Retrieved 2010-10-15.
External links
Categories:- Companies listed on the New York Stock Exchange
- Movie theatre chains in the United States
- Companies based in Plano, Texas
- Private equity portfolio companies
- Madison Dearborn Partners companies
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