Film Reels Toward Digital Revolution
Traditional movie theater companies are suffering some growing pains. After a round of building state-of-the-art multiplexes, there now appears to be too many screens for the number of movie watchers in America. To name a few, General Cinemas (NYSE: GCX) and Carmike Cinemas (NYSE: CKE) have filed for Chapter 11 bankruptcy, and battered Imax (Nasdaq: IMAX) has taken itself off the selling block. Following its third-quarter earnings warning, Imax saw its value plunge about 70 percent.