This post is by Jason Hellerman from No Film School
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Marcus Theaters is set to become a buyer. They’re somehow keeping the lights on during the pandemic.
We’ve reported that theater chains like AMC and Cinemark have been suffering around the world. The pandemic has throttled the theater-going experience, and as we await the vaccine, it’s still hard to get back.
Enter Marcus Theaters.
For those of you who don’t know, Marcus Theaters, run by Marcus Corp., is the fourth-largest in the U.S., with 1,110 screens in 17 states. Like many theater chains, they’ve the worst year in their history. But somehow, it wasn’t as bad as the number-one chain. While Marcus’ stock fell 58%, AMC’s fell 71%.
And Marcus seems to already be in the mode of recovering.
See, instead of renting the land or buildings your theaters are in, which caused empty chains to go bankrupt and lay off employees, Marcus makes a point of owning the land and buildings. That means they aren’t subject to rent hikes when things open back up either. No landlords are trying to take a bigger cut from them.