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Studios Buy Mann Theatres Chain

January 12, 2000

LOS ANGELES (AP) _ A partnership owned by the Warner Bros. and Paramount studios has acquired the defunct Mann Theatres chain after a bankruptcy court approved a $91 million sale agreement.

The theater chain’s parent company, WestStar Cinemas Inc., had filed for bankruptcy protection last year.

WestStar agreed to sell the chain to WF Cinema Holdings, a partnership between Warner Bros. and Paramount, but the bankruptcy court ordered the sale opened up to competitive bids.

However, no other companies bid on the 351-screen chain, and the previous agreement was approved Tuesday.

Warner Bros. spokeswoman Barbara Brogliatti told the Daily News of Los Angeles that the court process was ``fairly routine.″

Under terms of the deal, WF Cinema must pay WestStar $46 million immediately and an additional $45 million by Oct. 15, according to court documents.

Encino-based WestStar operates 53 Mann Theatres in Colorado and California, including the landmark Mann’s Chinese Theatre in Hollywood.

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