Cinemex
|
La Magia del Cine (Movie magic) | |
| Subsidiary | |
| Founded | 1993 |
| Headquarters | Mexico City, Mexico |
| Website | Cinemex |
Cinemex is a cineplex company based in Mexico that has built a nationally branded cineplex chain.
Cinemex started with a college business plan. Adolfo Fastlicht, Miguel Angel Dávila Guzmán and Matthew Heyman speculated that Mexico was ready for larger movie theaters. When the regulations were lifted with the new Cinematography Law passed in Mexico in 1992, Adolfo Fastlicht and Miguel Angel Dávila decided that Mexico City offered a market for a high-end chain of theaters.
In 1994, they secured $21.5m in equity financing from JPMorgan Partners and a partnership of the Bluhm family of Chicago, CMex Investors.and some Mexican former politicians The deal is generally acknowledged to be the largest venture capital start-up in Mexican history.
Since then, Cinemex has opened cineplexes in Mexico City, Guadalajara, Monterrey, Toluca, Cuernavaca, Morelia and Puebla.
In 2016, Cinemex will open its first cinema in the United States at Brickell City Centre in the Brickell neighborhood of downtown Miami, Florida.
History
Cinemex's first theater was Cinemex Altavista opened on August 2, 1995 and was soon followed by Cinemex Santa Fe, the company's flagship, in October and Cinemex Manacar on January, 1996. That same year saw the opening of Cinemex Los Reyes and Cinemex Loreto.
In June 2002 Onex Corporation and Oaktree Capital Management acquired Cinemex for $300m and two years later sold it to The Carlyle Group, Bain Capital and Spectrum, investment funds corporations, each having a seat in Cinemex's board.
On January 2013, Torrance-based, MediaMation has announced a partnership with Cinemex to make new X4D theaters available. The first X4D theater opened in Santa Fe, Mexico City, with the release of Hansel and Gretel: Witch Hunters.[1]
On August 7, 2013, RealD has linked a 10-year agreement with Cinemex. They plan to install approximately 700 RealD 3D theaters in select locations and replace around 540 alternative 3D manufacturers, such as Dolby 3D, XpanD 3D, etc.[2][3][4]
On November 13, 2013, the Comisión Federal de Competencia Económica gave Plano-based Cinemark and Cinemex permission to merge.[5]
See also
- Cinépolis, another major Mexican cineplex chain, which is a direct competitor.
References
- ↑ "MediaMation Announces Deal With Cinemex: 4D Theater Roll-Out in Mexico". 28 January 2013. Retrieved 17 February 2013.
- ↑ Giardina, Carolyn (7 August 2013). "RealD, Cinemex Ink Exclusive 3D Cinema Deal". The Hollywood Reporter. Retrieved 20 August 2013.
- ↑ "RealD and Cinemex Sign Exclusive 10-Year 3D Cinema Deal | Business Wire". Business Wire. 7 August 2013. Retrieved 20 August 2013.
- ↑ Wiseman, Andreas (7 August 2013). "RealD, Cinemex ink 10-year deal | News". ScreenDaily. Retrieved 20 August 2013.
- ↑ "Cinemex confirma fusión con Cinemark". El Economista. 13 November 2013. Retrieved 23 November 2013.