Landmark Theaters, a national independent-theater chain that includes the Guild in downtown Menlo Park and the Aquarius Theatre in downtown Palo Alto, has been bought by the Cohen Media Group, the company announced this week.
Cohen Media Group (CMG), owned by real estate billionaire and cinephile Charles S. Cohen, is an Academy Award-winning distribution and production company that releases both contemporary and restored classic films.
The Guild, built in 1926, became part of Landmark Theatres in 1989. In May, the Menlo Park City Council unanimously approved a proposal to rebuild the vintage movie theater, which will be turned into a live music and community events venue.
The Aquarius Theatre was built in 1969; it has been operated by Landmark Theatres since 1985. The Emerson Street building was remodeled in 2015.
Landmark was previously owned by investors Mark Cuban and Todd Wagner. CMG will retain Landmark's senior management team, according to a report in the Los Angeles Times.