June 14, 2001 |
A Manhattan bankruptcy judge rejected a bid by unhappy creditors of Loews Cineplex Entertainment Corp. to end the movie theater operator's exclusive right to file a bankruptcy reorganization plan. Judge Allan Gropper of the Southern District of New York granted New York-based Loews Cineplex, Canadian conglomerate Onex Corp. and Los Angeles-based investment firm Oaktree Capital Management a 120-day extension, to Oct. 13, 2001, to file its plan.
August 26, 2000 |
Loews Cineplex Entertainment Corp., the No. 2 U.S. movie theater operator, said it expects to default under a bank loan by the end of the month, and warned it will lose money in the quarter ending Aug. 31. The New York-based company, whose theaters are primarily in major U.S., Canadian and European cities, also said it expects revenue and earnings before interest, taxes, depreciation and amortization (EBITDA) for the quarter ending Aug. 31 to be "considerably lower" than they were a year ago.
November 5, 2002 |
Online movie-ticket service Fandango Inc. of Los Angeles and AOL Moviefone, a subsidiary of AOL Time Warner Inc., have settled their battle over the right to sell tickets for Loews Cineplex Entertainment Corp. theaters. The settlement, which is expected to be announced formally today, leaves Fandango holding the exclusive rights to Loews, a founding partner of Fandango. The legal battle, which stretched across several courts, erupted as Loews was reorganizing under the protection of the U.S.
October 12, 2001 |
Loews Cineplex Entertainment Corp. asked a bankruptcy judge to approve $4.4 million in bonuses for 78 top employees to keep them from walking out on the second-biggest U.S. movie theater chain. Loews filed in February for Chapter 11 protection from creditors and agreed to be acquired by Canada's Onex Corp. and Los Angeles-based Oaktree Capital Management for about $850 million.
August 3, 2002 |
A U.S. Bankruptcy Court judge in New York upheld an exclusive online-ticketing contract between Fandango Inc. of Los Angeles and the Loews-Cineplex Entertainment chain of movie theaters. The ruling is an important victory for Fandango in its battle against archrival AOL Moviefone, a subsidiary of AOL Time Warner Inc.
May 8, 2004 |
If your first or last name is Marcus or you're 100 years old, you've got a free ticket to the movies. Anyone who fits either of these criteria can get into any Loews theater in the country free for a limited time. It began Friday as a marketing touch to celebrate the May 7 birthday of the late Marcus Loew, who opened some of the world's first movie theaters about a century ago. His birthday previews the centennial of the company he co-founded on Nov. 14, 1904, the People's Vaudeville Co.