Kansas City, Mo. -- AMC Entertainment Inc. (AMC), one of the world's largest theatrical exhibition and entertainment companies, announces today that its wholly owned subsidiary, American Multi-Cinema, Inc., will not exercise its option to extend the lease for AMC The Grand 24, currently held by EPT Down REIT II Inc., a subsidiary of Entertainment Properties Trust (EPT).

This marks the end of an era, as AMC The Grand 24 was the first megaplex - a theatre with 14 auditoriums or more and stadium seating - ever built in the United States in 1995.

"It's disappointing that we have not come to terms on a historical, and to us, a somewhat sentimental property," said Gerry Lopez, AMC's chief executive officer and president. "But in our opinion, the proposal advanced by EPT is simply untenable. We continue to negotiate with EPT on several other properties and will see where those discussions take us."

The EPT lease contains a notice deadline of May 31, 2010 to exercise its renewal option. Because AMC elected not to exercise its option to renew the lease, it will now expire on Nov. 30, 2010. AMC will vacate the premises and remove its equipment prior to this date.

"Throughout the past 15 years at AMC The Grand 24, we made history and developed many friends in the community" said Mark McDonald, AMC's executive vice president of global development. "We will miss them."

 

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jamesmcavoy.pngSource: THR

James McAvoy will step into the role of a young Professor X in X-Men: First Class for director Matthew Vaughn (Kick-Ass). The film is set for a June 3, 2011 release.

McAvoy certainly has some big shoes to fill. Patrick Stewart put his stamp on the role in the first three X-Men films, and fans of the property will be unforgiving if McAvoy doesn't do justice to the beloved character.

 

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Source: LeicesterSquareTV, ComingSoon.net

Director Joe Johnston (The Wolfman) is building quite the cast for his Captain America film. Tommy Lee Jones and Hayley Atwell are now officially on board, and they join Chris Evans, Hugo Weaving, Sebastian Stan, Toby Jones, Samuel L. Jackson and Dominic Cooper.

Captain America: The First Avenger is set for a July 22, 2011 release.

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Thursday Update: Alice in Wonderland has officially reached the $1 billion worldwide plateau.

"We feel incredibly fortunate to be able to showcase such an amazing 3-D film from visionary director Tim Burton and the creative talents of Johnny Depp, Mia Wasikowska, Helena Bonham Carter, and Anne Hathaway," said Rich Ross, Chairman of The Walt Disney Studios. "Our marketing teams joined with our exhibition partners to find every opportunity to bring this creative masterpiece to fans around the world."

Source: THR

Alice in Wonderland is going to join an elite club of films that have grossed $1 billion worldwide. AiW is set to hit that plateau on Thursday, and it is Disney's second-highest grossing film of all time behind Pirates of the Caribbean: Dead Man's Chest at $1.07 billion. 

Avatar, Titanic, The Lord of the Rings: The Return of the King, Dead Man's Chest and The Dark Knight also reached the $1 billion mark.

Alice in Wonderland will debut on DVD/Blu-ray on June 1.

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