Grauman's Chinese Theater Up for Sale, Mann to Vacate Westwood Venues

By Alesandra Dubin August 11, 2009, 3:41 PM EDT

Warner Brothers and Viacom are increasing their efforts to unload some local movie theaters, including Hollywood's storied Grauman's Chinese in Hollywood, according to The Hollywood Reporter. Decision makers at Cinemerica—the joint venture of Warner Brothers and Viacom that operates Mann Theatres—think it's the right time to sell at least one Mann venue, with Grauman's and the Criterion Theatre on the Third Street Promenade in Santa Monica at the top of the list of possibilities. (The visibility of and traffic around Grauman's—a popular choice for movie premieres—is also increasing after the August 1 opening of Madame Tussauds next door.)

Mann will vacate the Bruin and Village theaters, two Westwood venues often used in conjunction for simultaneous screenings at movie premieres (and often divided into A-list and B-list crowds) in March unless negotiations extend those leases. The fall season will likely bring another challenge to the Westwood theaters: Regal Cinemas expects to open a 14-plex at L.A. Live that will vie for the big premieres.

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