Briefly in Business

Newport Beach-based theater operators Edwards Theatres Circuit Inc.

took a step toward solvency this week when a bankruptcy court confirmed

the company’s plan to emerge from Chapter 11 bankruptcy.

The company will be sold to Denver billionaire Steve Anshutz with 49%

of the company’s stock remaining in the hands of the Edwards family,

according to the plan. Anshutz, founder of Qwest Communications and one

of the nation’s largest private landowners, would provide a $56-million

recapitalization investment under the plan.

Edwards Theatres operates 53 theaters with a total of 669 screens. The

company entered voluntary Chapter 11 bankruptcy on Aug. 23, 2000.