Digital media evangelist Mark Cuban — the serial entrepreneur behind Broadcast.com (sold to Yahoo!), HDNet, and owner of the Dallas Mavericks — just bought Landmark Theatres. Cuban and longtime business partner Todd Wagner purchased the chain for an undisclosed sum, and say digital projection systems will eventually be introduced in an effort to influence every aspect of filmmaking, from production to display.
They already have their own film production company, called 2929 Entertainment, and they own part of Lion's Gate, a film production and distribution company, as well as Magnolia Pictures, an art-house movie company. About 18 months ago they bought Rysher Entertainment, which owns a library of TV shows and movies.
Now, with their own movie theaters, "We somewhat control our own destiny," said Wagner in an interview yesterday. "The ultimate goal is to attract more and more filmmakers. If they work with us and we commit to a project, they already know that (their movie) is going to get a certain amount of distribution right out of the box."
Link to Seattle Times story, Link to press release. UPDATE: And in a post to the pho list today, Cuban says: "We are going to be vertically integrated with our other companies….and not play by the rules."
