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In September 1997, Cineplex Odeon Corporation announced that it would merge with Loews Theatres for $1 billion; the merger was later approved by the United States Department of Justice on April 16, 1998 and was later completed that year to form Loews Cineplex Entertainment, thus making it a joint venture between Sony and Universal Studios.
While Magic Theatres are patterned after the Loews Cineplex Entertainment model, they focus on urban markets. Each complex is around 60,000 square feet (5,600 m 2 ) with multiple concession areas, 10 to 15 screens with SDDS stereo sound, stadium seating and a capacity of 3,200 to 5,000.
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Balaban and Katz had developed the Wonder Theater concept, first publicized around 1918 in Chicago. The Chicago Theatre was created as an opulent theater with many amenities for its patrons and was advertised as a "wonder theatre". When Publix acquired the Balaban and Katz chain they embarked on a project to expand the wonder theaters, and ...
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In May 2021, Amazon (parent company of Amazon Studios) entered negotiations to acquire Metro-Goldwyn-Mayer (MGM). On May 26, 2021, it was announced that the studio would be acquired by Amazon for $8.45 billion, subject to regulatory approval, continuing to operate as a label alongside Amazon Studios and Amazon Prime Video. [3]
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