Website 2929entertainment.com | Type Privately held company | |
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Industry Motion Pictures, Television Key people Todd Wagner, CEOMark Cuban, Co-FounderKevin Parke, EVP Divisions Landmark TheatresMagnolia PicturesTruly IndieHDNet MoviesAXS TV (co-owner)Rysher Entertainment Headquarters Santa Monica, California, United States Films produced | ||
2929 Entertainment is an American media group with holdings in film production and distribution, theatrical exhibition, home entertainment as well as network television and syndication. Billionaires Todd Wagner and Mark Cuban founded and currently own the privately held company. Wagner serves as its CEO, and Kevin Parke as its Executive Vice President.
Contents
- Magnolia pictures 2929 entertainment 2008
- History
- Film production
- Film distribution
- Theatrical exhibition
- Home entertainment
- Television
- References
Magnolia pictures 2929 entertainment 2008
History
In February 2004, 2929 owned the syndication rights to several television shows including Sex and the City, Star Search, and Hogan's Heroes. 2929 co-produced a newer version of Star Search which premiered in January 2003 on CBS. The original Star Search was on air between 1983 and 1988.
In January 2006, the company experimented by releasing Steven Soderbergh's Bubble simultaneously in its Landmark Theatres chain, on the company's HDNet Movies cable channel, and on DVD through its Magnolia Pictures division. The move was controversial since most films are released through different distribution channels on a staggered schedule, giving each channel an exclusive release window. Exhibitors were especially timorous, as many feared that they would eventually lose their exclusive release windows for more mainstream films.
Film production
The company produces films and television programs through two production companies: 2929 Productions and HDNet Films. 2929 Productions, formerly run by Marc Butan, makes movies with budgets of $10-40 million. HDNet Films produces lower budget movies that are shot in high definition. Notable films include:
Wagner and Cuban also own a minority stake in Lions Gate Entertainment.
Film distribution
2929 owns Magnolia Pictures, a film distribution company that places 2929's and other company's films in theaters. Besides 2929's pictures, Magnolia has also released:
2929 has also launched Truly Indie, which is refers to as an "innovative distribution program" for independent filmmakers.
Theatrical exhibition
On September 24, 2003, 2929 bought Landmark Theatres, which owns 58 theatres in 23 markets. The chain, which was founded by Kim Jorgensen in 1974, primarily shows independent and foreign films.
Home entertainment
In November 2005 the company created Magnolia Home Entertainment to release its films over home video. It is run by Randy Wells, the former head of home entertainment for Miramax.
Television
2929 holds a significant interest in AXS TV, which Cuban originally co-founded in 2001 as the all-high definition cable channel HDNet (through AXS TV LLC, formerly HDNet, LLC). HDNet Movies, a companion channel, shows movies in high definition. 2929 also owns and operates Rysher Entertainment, a television syndication distributor.