Metromedia to Sell Art Film Theaters

Metromedia International Group has agreed to sell its Landmark Theatre Group to a Dallas-based cinema chain for about $65 million. Metromedia had acquired Landmark--the nation’s largest exhibitor of art house fare--as part of the Samuel Goldwyn Co. In Los Angeles, Landmark operates the Nuart, NuWilshire and Samuel Goldwyn theaters, all on the Westside. The chain has 130 more screens in cities including San Francisco, Boston and Cleveland. The buyer, Silver Cinemas International, is backed primarily by Los Angeles private investment firm Brentwood Associates. The Landmark screens will be Silver Cinemas’ first in Los Angeles, and will bring its total number of screens to about 500 nationwide.