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United Artists Theatre Co

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August 12, 1999 | From Bloomberg News
United Artists Theatre Group, a major U.S. movie theater operator, said it is in talks with a group of bankers to avoid a default on its loan agreement, which it blames on a decline in movie attendance in the first quarter that hurt cash flow. The Denver-based company, which operates 2,129 screens at 309 locations, said it does not expect to be in compliance with some loan covenants as of Aug. 30 and it is seeking a waiver or amendment from its bank group.
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BUSINESS
August 12, 1999 | From Bloomberg News
United Artists Theatre Group, a major U.S. movie theater operator, said it is in talks with a group of bankers to avoid a default on its loan agreement, which it blames on a decline in movie attendance in the first quarter that hurt cash flow. The Denver-based company, which operates 2,129 screens at 309 locations, said it does not expect to be in compliance with some loan covenants as of Aug. 30 and it is seeking a waiver or amendment from its bank group.
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BUSINESS
March 27, 2001 | Reuters
In a rare positive sign for the troubled movie theater industry, United Artists Theatre Co.'s credit ratings were raised to B-minus from D, or default, by Standard & Poor's, following the company's emergence this month from bankruptcy reorganization. S&P assigned the B-minus rating, with a stable outlook, to the corporate credit and the structured $252-million credit line of Denver-based United Artists, the No. 6 U.S. movie theater operator, with 1,604 screens at 216 theaters.
BUSINESS
April 23, 2003 | From Reuters
Regal Entertainment Group saw its first-quarter net income rise slightly after accounting for the 2002 merger of three theater companies that formed the No. 1 U.S. movie chain. The Knoxville, Tenn.-company reported net income of $35.3 million, or 26 cents a share in the quarter, compared with net income of $10.6 million, or 19 cents, a year ago. On a pro forma basis, which takes into account the company's formation through the merger of Regal Cinemas, United Artists Theatre Co.
BUSINESS
August 1, 2002 | Bloomberg News
Regal Entertainment Group, the largest U.S. movie-theater chain, had a fiscal second-quarter profit of $38.7 million as ticket sales rose. The firm had net income of 9 cents a share in its quarter ended June 27, compared with a net loss of $1.2 million, or 7 cents, in the year-earlier period, Regal said in a statement. Sales rose more than fourfold to $607.3 million from $128.5 million.
BUSINESS
October 22, 2002 | From Times Staff and Wire Services
Regal Entertainment Group, the largest U.S. movie theater chain, saw its third-quarter profit rise almost sixfold, primarily from acquisitions. Net income in the latest quarter rose to $36.1 million from $6.1 million a year ago. Per-share earnings declined to 27 cents a share from 32 cents a year earlier as the number of shares outstanding increased to 136.2 million from about 19 million. Sales for the Sept. 26 quarter more than tripled to $571.5 million from $158.
BUSINESS
September 6, 2000 | From Bloomberg News
United Artists Theatre Co. filed for bankruptcy protection from creditors after failing to repay $12.3 million to bondholders this year and announcing a debt-restructuring plan. The Englewood, Colo.-based company listed $521.9 million in assets and $667.6 million in debts in its Chapter 11 petition in U.S. Bankruptcy Court in Wilmington, Del. The filing is just the latest by movie theater chains staggering from competition with the Internet and megaplex movie houses.
BUSINESS
May 10, 2001 | LESLIE EARNEST, TIMES STAFF WRITER
Edwards Theatres Circuit Inc. has struck a definitive financial deal with billionaire Philip Anschutz to lift the state's largest movie-house chain out of bankruptcy. The Newport Beach chain announced the agreement late Wednesday with Anschutz and Oaktree Capital Management, a Los Angeles distressed-debt specialist.
BUSINESS
April 26, 2003 | E. Scott Reckard and Walter Hamilton, Times Staff Writers
Philip Anschutz, billionaire financier and L.A. sports mogul, is willing to pay $4.4 million to settle charges that he made millions of dollars at the expense of Qwest Communications International Inc. shareholders, sources close to the matter said Friday. Anschutz is one of five telecom executives accused of profiting from initial public stock offerings without disclosing conflicts of interest. A lawsuit filed in September by New York Atty. Gen. Eliot Spitzer demands $4.
BUSINESS
May 25, 2001 | LESLIE EARNEST, TIMES STAFF WRITER
Billionaire Philip Anschutz and an investment partner have agreed to pay $56 million to take control of Edwards Theatres Circuit Inc., the state's largest cinema chain, according to a bankruptcy reorganization plan filed Thursday. Under the plan, Anschutz and an equity fund managed by Oaktree Capital Management, a Los Angeles distressed-debt specialist, would own 51% of the reorganized company.
BUSINESS
November 20, 2003 | Meg James, Times Staff Writer
Raising the curtain on further consolidation in the movie-theater industry, AMC Entertainment Inc. and Loews Cineplex Entertainment Corp. said Wednesday that they might combine their businesses, a transaction that would create the nation's largest chain. The companies did not provide any details of the talks, cautioning that they were preliminary and might not result in a deal.
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