Loews loses Loekses

Couple to ankle chain to expand own circuit

By VARIETY STAFF

TORONTO --- After five years as co-chairmen of Sony/Loews Theatres, Jim Loeks and Barrie Lawson Loeks are stepping down. Loews president Travis Reid will lead the 907-screen circuit, the nation's ninth-largest.

The Loeks will focus on the expansion of Loeks-Star Theatres, the Michigan circuit that the couple owns and operates in a 50% joint venture with Sony, but which was never part of the Sony/Loews chain.

Although their contract expires Dec. 1, the Loeks have agreed to remain at Loews until April 1998 to insure an orderly transition.

In a telephone interview from their New York headquarters, the Loeks told Daily Variety that their decision not to renew their contract was unrelated to merger discussions between Sony/Loews and Cineplex Odeon Corp.

"We were asked to stay and it was a difficult decision. It's public knowledge that a merger between Loews and Cineplex would create the world's largest circuit, but we're entrepreneurs at heart," said Barry Loeks.

The Loekses will continue to live and work in New York as they aim to add 110 screens to the Loeks-Star chain. The circuit currently has 118 screens, all in Michigan; since opening this summer, the 20-screen Star Southfield Entertainment Center has become one of the nation's top-grossing megaplexes.

Under the Loeks' leadership, Loews has disposed of 245 non-strategic screens and added 331 new screens, including the chain's flagship Sony Lincoln Square multiplex, which features themed auditoriums inspired by grand movie palaces as well as an Imax 3-D theater.

The Loeks revolutionized moviegoing in Gotham by allowing ticket-holders to wait inside theater lobbies until showtime instead of making them wait outside. The couple has recently received kudos in the Gotham press for hiring bathroom attendants at Sony Lincoln Square.

The Loeks' emphasis on design and service apparently helped Loews' cash flow increase dramatically and allowed the circuit to achieve results on both a per-screen and per-location basis that are among the highest in the exhibition industry. This year, Barrie Lawson Loeks became the first woman ever to receive the ShoWester Award.

While mom-and-pop teams are common in exhibition, the Loeks became the first couple to ascend the ranks of a corporately owned circuit. They were recruited to run Loews five years ago by Sony Retail Entertainment president Larry Ruisi.

Impressed by their results

He was impressed by their results at Star-Loeks, the chain they built from the ground up after Jim Loeks left his family's circuit, also based in Michigan.

"We are truly sorry that Jim and Barrie decided not to renew their contract," said Ruisi. "Under their leadership, Sony/Loews Theatres has become an industry leader in all areas.

"During a time when other circuits have struggled, Loews not only dramatically improved its service and its theaters, it significantly improved its financial results as well."

Read the full article at:
http://www.variety.com/article/VR1116675126.html

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