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Loews: Landmarks

Landmarks

This chronology is indicative only.


It covers -

  • beginnings (1904)
  • end of the Studio System (1940)
  • Tisch era (1959)
  • CBS and Sony (1986)

Context is provided by the broader communications and media timeline on this site and by related profiles regarding MGM, CBS, Westinghouse and Viacom.

Beginnings

1904 Loews Theatres founded

1905 Adolph Zukor and Marcus Loew form Loews Consolidated theatre chain

1924 Marcus Loew buys Metro Pictures

1924 creates Metro-Goldwyn-Mayer by acquisition of controlling stake in Goldwyn Pictures and Louis B. Mayer Pictures

End of the studio system

1940 US major studios sign federal consent decree, agreeing to distribute films in blocks of under six and to screen films in advance for buyers

1944 US federal government reopens anti-trust litigation against major studios

1946 Laurence and Robert Tisch buy Laurel-in-the-Pines resort for US$125,000

1947 US Dept of Justice appeals after Supreme Court does not order major studios to divest exhibition arms

1948 US Supreme Court's 'Paramount Decree' refers divestiture decision to district court

1949 Loews, 20th Century Fox and Warner Brothers ordered to divest their cinema operations

1954 Loews cinema chain separates from MGM as part of consent decree

1956 Tisch brothers build Americana hotel at Bal Harbour

Tisch era

1959 Tisch bros buy Loews cinema chain for US$65m, form Loews Corporation

1968 Loews buys Lorillard

1974 Loews takes control of CNA Financial

1979 Cineplex Odeon Corporation founded in Canada

1979 Loews buys Bulova Watch

1982 Tri-Star Pictures formed by CBS television, HBO (Home Box Office) and Columbia Pictures

1982 Coca-Cola buys Columbia Pictures for US$682m

1982 Loews forms Majectic Shipping for US$42m

1985 Loews Corporation sells 350 screens

1985 chain acquired by Tri-Star Pictures

1986 Tri-Star acquired by Coca Cola, forming Columbia Pictures Entertainment

CBS and Sony

1986 Loews buys 25% stake in CBS

1986 MCA invests US$75m in Cineplex Odeon

1987 Columbia Pictures merges with Tri-Star Pictures under the ownership of Coca-Cola

1989 Sony Corporation of America buys Loews cinema chain from Coca Cola as part of US$3.4bn Columbia Pictures Entertainment acquisition

1989 Lowes acquires what becomes Diamond Offshore Drilling

1990 Loews sells 50% of Majectic Shipping for US$150m

1991 Robert Tisch pays U$75m for a 50% interest in NFL Giants team

1995 CNA acquires Continental Insurance

1995 Westinghouse Electric buys CBS, later changes name to CBS

1998 Sony/Loews cinema chain completes merger with ailing Cineplex Odeon as Loews Cineplex Entertainment - 2,900 screens

1999 Viacom buys CBS for US$50 billion

2001 Loews Cineplex goes into Chapter 11

2001 Loews Cineplex acquired by Onex and Oaktree Capital Management after financial crisis

2002 Onex buys 58% of Mexico's Grupo Cinemex for US$190m