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MARCUS THEATRES TO JOIN MOVIETICKETS.COM
Marcus Theatres Receives Equity Stake in MovieTickets.com, A Joint Venture of Hollywood.com, Inc., AMC Entertainment Inc., National Amusements, Famous Players Inc. and CBS
(Milwaukee, WI and Boca Raton, FL - May 25, 2000) – Marcus Theatres Corporation, a division of Marcus Corporation (NYSE: MCS), will receive an equity stake in the online ticketing service MovieTickets.com, Inc., it was announced today. MovieTickets.com plans to offer online movie ticketing for Marcus Theatres' nearly 500 movie theatre screens.
The announcement was made jointly by Bruce J. Olson, president of Marcus Theatres Corporation and group vice president of Marcus Corporation, a diversified leader in the lodging and entertainment industries; Mitchell Rubenstein, chairman and CEO of Hollywood.com, Inc. (NASDAQ: HOLL); Peter Brown, chairman and CEO of AMC Entertainment Inc. (AMEX: AEN); Shari E. Redstone, president of National Amusements; and John Bailey, president of Famous Players Inc.
Marcus Theatres Corporation is the 16th largest theatre circuit in the U.S., the largest in Wisconsin, and one of the most profitable theatre circuits in the country. Currently, the division operates 470 screens at 50 locations in Wisconsin, Illinois, Ohio and Minnesota, with plans of 500 screens by the end of calendar 2000.
By combining the theatre circuits of Marcus Theatres; AMC, the largest theatrical exhibition company in North America in terms of revenues; National Amusements (Showcase Cinemas and Multiplex Cinemas), one of the preeminent international theatre operators; and Famous Players, Canada's top-grossing and fastest-growing theatrical exhibitor, MovieTickets.com now consists of approximately 5500 screens. The site is open to all exhibitors seeking Internet ticketing.
"MovieTickets.com has excellent growth potential which we feel will be a great asset to Marcus Theatres Corporation," said Bruce J. Olson. "Receiving an equity stake in MovieTickets.com and venturing into online ticketing are important steps toward Marcus Theatres' future growth."
Said Mitchell Rubenstein, "By adding Marcus' nearly 500 quality screens to the MovieTickets.com family of theatre chains, we are providing thousands of opportunities for MovieTickets.com users to make moviegoing an easier, more convenient experience."
The Company recently signed an agreement in principle for CBS to receive a 5% ownership position in MovieTickets.com, Inc. Under terms of the relationship, MovieTickets.com will receive $25 million of CBS advertising across the full range of CBS media properties over a period of five years.
In addition to online movie ticket sales, MovieTickets.com distinguishes itself by offering comprehensive information about current and future movie releases. The site features movie reviews, trailers, entertainment news, coverage of movie premieres and data on current movies.
MovieTickets.com will employ the latest technology for maintaining data security and will allow customers to register with the Web site to easily purchase movie tickets without entering credit card information every time. MovieTickets.com owns both the MovieTickets.com and MovieTicket.com URLs to ensure that moviegoers can easily locate the site.
About Marcus Corporation
Headquartered in Milwaukee, WI, Marcus Corporation is comprised of four divisions: limited-service lodging, movie theatres, hotels/resorts and restaurants. The Company operates or franchises 171 Baymont Inns & Suites in 30 states, and a total of seven Woodfield Suites in Illinois, Wisconsin, Colorado, Ohio and Texas; 470 movie screens in Wisconsin, Ohio, Illinois and Minnesota, and one family entertainment center in Wisconsin; three hotels and a resort in Wisconsin, one hotel and a resort in California and one hotel in Minnesota; and 27 KFC and 3 KFC/Taco Bell 2-in-1 restaurants in Wisconsin. For more information, visit the company's website at www.marcuscorp.com.
MovieTickets.com is the dedicated Internet site for the sale of movie tickets, with additional content to assist users with their moviegoing plans. The Company is a joint venture of Hollywood.com, Inc., AMC Entertainment Inc., National Amusements, Famous Players Inc. and CBS Corporation, and will now include Marcus Theatres Corporation.
MovieTickets.com, Inc. forward-looking statements
The matters discussed herein that are forward-looking statements are based on current management expectations that involve risks and uncertainties that may result in such expectations not being realized. These forward-looking statements generally can be identified as such because the context of the statement include words such as we "believe," "expect," "anticipate" or other words of similar import. Similarly, statements herein that describe our objectives, plans or goals also are forward-looking statements. Potential risks and uncertainties include, but are not limited to; the risks described in Hollywood.com, Inc.'s and AMC Entertainment Inc.'s filings with the Securities and Exchange Commission.
Marcus Theatres Corporation
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