Cinemex

Cinemex
Subsidiary
Founded 1993 (1993)
Headquarters Mexico City, Mexico
Website

Cinemex

CMX Cinemas(USA)
Cinemex in Lazaro Cardenas, Michoacan, Mexico

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, Cd. Juarez, Leon, Tijuana, Mexicali, Puebla and many other cities across the country.[1]

In 2016, Cinemex open its first cinema in the United States at Brickell City Centre in the Brickell neighborhood of downtown Miami, Florida, under brand name CMX. It will also open in Mall of America in spring 2018, as well as other places such as Closter, New Jersey, Wheeling, Illinois.

History

Cinemex's first theater was Cinemex Altavista and it opened on August 2, 1995; the second was Unicornio Land opened in September 23, 1996, soon followed by Cinemex Santa Fe, the company's flagship, in October and Cinemex Manacar on January, 1997. That same year saw the opening of Cinemex Los Reyes and Cinemex Loreto.

In June 2002 and Oaktree Capital Management acquired Cinemex for $300m and two years later sold it to The Carlyle Group, Bain Capital and Spectrum.

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.[2]

In February 2013, Cinemex announced its intent to acquire the Mexican operations of U.S. cinema chain Cinemark.[3] The sale was approved by regulators in November.[4]

In August 2013, Cinemex reached a 10-year agreement to exclusively use RealD equipment at all of its cinemas.[5][6]

In 2017, Cinemex began to expand into the United States by launching a new chain of premium dine-in cinemas, CMX: The VIP Cinema Experience, beginning with a location at Brickell City Centre in Miami.[7][8] In October 2017, Cinemex announced its intent to acquire Cobb Theatres via the CMX subsidiary, which will make it the eighth-largest U.S. cinema chain with 30 locations.[9]

Controversies

Within Mexico in March 2015, an article from article from the mexican edition of the Forbes magazine revealed that Cinemex along its rival movie theater chain Cinepolis, were fined $7 million pesos each for directly disobeying instructions by the Intituto Nacional Electoral (INE, National Electoral Instiute), by showing political propaganda of the Partido Verde Ecologista de Mexico (Ecologist Green Party of Mexico), with the political party itself being fined for $35 million pesos.[10]

See also

  • Cinépolis, another major Mexican cineplex chain, which is a direct competitor.

References

  1. ↑ http://cinemex.com/cines/2
  2. ↑ "MediaMation Announces Deal With Cinemex: 4D Theater Roll-Out in Mexico". 28 January 2013. Archived from the original on 7 April 2013. Retrieved 17 February 2013.
  3. ↑ "Cinemark Selling Mexico Theater Chain". The Hollywood Reporter. Retrieved 2017-11-20.
  4. ↑ "Cinemex confirma fusión con Cinemark". El Economista. 13 November 2013. Retrieved 23 November 2013.
  5. ↑ Giardina, Carolyn (7 August 2013). "RealD, Cinemex Ink Exclusive 3D Cinema Deal". The Hollywood Reporter. Retrieved 20 August 2013.
  6. ↑ Wiseman, Andreas (7 August 2013). "RealD, Cinemex ink 10-year deal". ScreenDaily. Retrieved 20 August 2013.
  7. ↑ Zumbach, Lauren. "Upscale movie theater chain from Mexico headed to Wrigleyville". Chicago Tribune. Retrieved 2017-11-20.
  8. ↑ "Luxury is the star at new Brickell movie theater". Miami Herald. Retrieved 2017-11-20.
  9. ↑ Brinkmann, Paul. "CMX Cinemas buys Cobb Theatres, including Orlando location". Orlando Sentinel. Retrieved 2017-11-20.
  10. ↑ https://www.forbes.com.mx/cuanto-pagara-pvem-al-ine-por-spot-cien-minutos/
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