Back to Blog
Screenx at cgv cinemas7/2/2023 ![]() Richardson kept in contact with the CGV team, and offered them some advice. In 2015, CGV tried to acquire Sundance Cinemas to use as a launchpad into the American market, but came in second in the bidding to Carmike, who purchased the chain for $36 million. The first COO of CGV Cinemas Americas, Paul Richardson - founder of Landmark Theatres and former CEO of the Sundance Cinemas chains - says CGV is building a new theater chain one by one, but that wasn’t always the plan. ![]() ![]() If we go into an area where there are no Asian-Americans, it’s a little bit risky for us, because I don’t know how we differentiate ourselves other than just the technology.” “I signed a non-binding LOI, and now we’re going to go into lease agreement discussions, and I’m very hopeful to announce a new theater in a very similar type of location. “We’re very close,” Shaw told THR at the grand opening. The Buena Park location is CGV’s second “cultureplex” in America after the Koreatown location, which opened 10 years ago, but Mark Shaw, CEO of CJ E&M America, promises it won’t take 10 years to expand to their third theater in an undisclosed area with a large Asian-American population. CJ CGV, a subsidiary of the $5.4 billion South Korean conglomerate CJ Group, is the world’s fifth-largest theater chain, and it’s betting big on America moviegoers’ taste for Asian cinema, as well as their thirst for theater experiences like 4DX and ScreenX.
0 Comments
Read More
Leave a Reply. |