The Hollywood and Chateau Theatres Join Forces Acquisition will enhance movie-going in both cineplexes. (Rochester, Minnesota) - 11/22/06
CineMagic Theatres announced today an agreement with Gus Chafoulias, Chairman of Chafoulias Companies, to acquire the Chateau Theatre on 37th street. The terms of the deal were undisclosed, but it takes effect immediately. We deeply appreciate the loyal patronage the Chateau has enjoyed over the years, said Chafoulias, but now we believe that an experienced exhibitor like CineMagic can best preserve the quality of experience that Rochester has come to expect from the this theatre. We have had a lot of fun operating the Chateau, which is a copy of the original Chateau theatre now a Barnes and Noble bookstore (also a Chafoulias Company development.) Preserving the history of our city is very important to us.
CineMagic will continue to provide Rochester with the best movie-going experience available anywhere, said Steve Tripp, President of CineMagic Theatres. We want to give movie-goers more choice, more convenience and more fun than ever.
The Chateau opened in December of 2001, and CineMagicâ„¢ Hollywood 12 about six months later. The two theatres modernized Rochesterâ„¢s movie-going with the latest in technology and amenities: rocker seating, large themed lobbies, digital sound, and wall-to-wall screens. CineMagic has since acquired the 5 screen cineplex in Saint Peter and has a new 15 screen project opening soon in Saint Michael. Minnesota is where we do business said Tripp, and now Rochester is more important than ever to our success.
Founded in 1996, Midwest Theatres Corporation of Minneapolis, Minnesota is now the operator of seven cineplexes with a combined total of sixty one screens. Their latest project, to be opened in December in Saint Michael Minnesota, will add another 14 regular screens and one giant screen to the circuit. The company also has a cinema advertising division that produces screen advertisements and entertainment marketing services for clients in each of its locations.
