Reading Cinemas (/ˈrɛdɪŋ/ RED-ing) is a group of cinema chains operating in the United States, New Zealand, and Australia. They are owned by Reading International, a U.S.-based company.[1]
 | |
| Company type | Brand |
|---|---|
| Industry | Cinema |
Area served | United States, New Zealand, Australia |
Key people | Ellen M. Cotter (Chairman, President and CEO) Mark Douglas (Managing Director - Australia and New Zealand) |
| Parent | Reading International |
| Website | http://readingcinemasus.com/ (US)
https://readingcinemas.co.nz/ (NZ) https://readingcinemas.com.au/ (AU) |
History
edit20th century
edit
In the late 1980s, through his holding company the Craig Corporation, Los Angeles–based lawyer James Cotter acquired the Reading Company, a former American railroad company that held a portfolio of real estate properties after it sold its railroad assets and rolling stock in 1976. Through the rest of the 1990s, Cotter acquired, developed, and operated real estate properties, focusing on cinema exhibitors and live theatre operators. Most of the company's holdings by this time were located far beyond the company's historical native ground of eastern Pennsylvania.[citation needed]
Reading entered the Australia market in 1995 and the New Zealand market two years later, in 1997, developing a chain of multiplex cinemas that operated under the Reading banner and exhibited mainstream films. In the United States, Reading pursued a more offbeat business direction, acquiring an art-house theatre at the historic Cable Building in New York City in 1996 that operated under the name Angelika Film Center. The company also acquired and expanded a chain of multiplex cinemas throughout the island of Puerto Rico.[1]
By 1996, Cotter reorganized the company as Reading Entertainment, a Delaware corporation, and on December 31, 2001, both Reading Entertainment and Craig Corporation merged into and with Citadel Holding Corporation, another Cotter company.[3]
21st century
editCotter died in August 2014, leaving his investment in the company in trusts that have been subjected to multiple years of litigation between his designated successor CEO, his son James Jr., and his daughters (Jr.'s sisters), Ellen and Margaret.
In 2015, James Jr. was ousted by his sisters and a majority of the board of Reading International and Ellen Cotter subsequently was named CEO.[4]
In 2023, Mayor of Wellington Tory Whanau and the Wellington Council had voted to give Council staff the approval to negotiate the NZ$32 million agreement to refurbish and earthquake-strengthen the Wellington building, which housed the historic Wellington theater, but had been closed since 2019.[5] In April 2024, the Wellington City Council exited the agreement, citing Reading's inability to come up with its share of the investment.[6]
See also
editReferences
edit- ^ a b "About Reading International Inc". www.readingrdi.com. Retrieved 4 November 2017.
- ^ Shannon, Lucy (20 November 2019). "Hobart's State Cinema, once saved by Gough Whitlam, enters new era after sale to Reading". abc.net.au. Retrieved 1 May 2022.
- ^ https://www.sec.gov/Archives/edgar/data/1023993/000089843002000002/dsc13e3a.txt [bare URL plain text file]
- ^ Lieberman, David (5 September 2017). "Reading International May Be For Sale Following Court Ruling In Family Squabble". Deadline. Archived from the original on 26 March 2023. Retrieved 28 April 2024.
- ^ "Reading Cinema: Wellington council ends negotiation on deal to reopen complex". Radio New Zealand. 23 April 2024. Archived from the original on 24 April 2024. Retrieved 28 April 2024.
- ^ Tom Hunt (3 September 2024). "Councillors speak on Reading deal". The Post.