The Skyway property was put up for sale earlier this year by Marcus Corp. and co-owner Sampson Investments. Petrick said he didn't believe the real estate had yet been sold. The so-called megaplexes offer lower operating costs and more flexibility in showing films.
Operators can maximize concession stand profits while spreading expenses over larger facilities.
Meanwhile, they stand to boost revenue by placing films in various-sized auditoriums according to their popularity. All remain open. The Budget Cinemas North had become unprofitable, said Mike Mullen, senior vice president of operations for Silver. Discount theaters in general have suffered amid what has become an intensely competitive industry in recent years, he said. Attendance has declined at discount theaters generally, Mullen said, and more so at the Budget Cinemas North.