Los Angeles-based Landmark Theatres announced Wednesday afternoon the acquisition of the Showplace Glendale 12 Theatre at Glendale Mall in Indianapolis from Atlanta-based AMC Entertainment Inc.
Terms of the deal, which takes effect on Friday, were not disclosed. The theater will be called Landmark’s Glendale 12.
AMC bought the property last year from Kerasotes Showplace Theatres as part of a package acquisition of 93 theaters. However, AMC was ordered to sell either Glendale 12 or a theater in Castleton to comply with a U.S. Justice Department order to avoid unfair competition.
Nationwide, Landmark operates 54 theaters, including the Keystone Art Cinema and Indie Lounge at the Fashion Mall at Keystone Crossing.
Landmark Theatres is the nation’s largest theater chain dedicated to showing and marketing independent films. It’s part of The Wagner/Cuban Companies co-owned by Todd Wagner and Mark Cuban.
Cuban, who owns the Dallas Mavericks, graduated from Indiana University in 1981 and became a billionaire in 1999 when he sold his Internet company Broadcast.com for $5 billion to Yahoo Inc.