Mark Cuban Buys Stake In Carmike Cinemas
Monday
Dec 29, 2008
That daring dancing boy wonder, Mark Cuban, the billionaire owner of the Dallas Mavericks basketball team and co-owner of the Landmark Theaters cinema chain, has acquired a 9.4 percent stake in Carmike Cinemas Inc., according to an SEC filing today.
In the Securities and Exchange Commission filing, Cuban reported buying 1.2 million Carmike shares on the open market for roughly $2.8 million of his own funds. According to the filing, Cuban has been acquiring the shares through his personal investment account since mid-October.
If you want to jump on this bandwagon, fire up your E*Trade account and the stock symbol is CKEC.
Carmike has 252 theaters in 36 states, most of which are equipped for digital projection.
In Monday’s SEC filing, Cuban said he acquired his stake in Columbus, Ga.-based Carmike for investment purposes. He reserved his right to discuss the company’s performance and strategic direction with Carmike’s stockholders, officers or directors.
Cuban co-owns movie theater chain Landmark Theatres with Todd Wagner, who was his co-founder of the pioneering online audio streamer Audionet. The service, later named Broadcast.com, was sold by Cuban and Wagner to Yahoo! in 1999.
The Wagner/Cuban Cos. also include distribution company Magnolia Pictures, production company 2929 Productions, and high definition cable networks HDNet and HDNet Movies.
Carmike shares fell 4 cents to $1.99 in morning trading. The stock has traded between $1.37 and $11.37 during the past 52 weeks.
Dallas Mavericks Hire Coach Rick Carlisle
Wednesday
May 14, 2008
The Dallas Mavericks today introduced new coach Rick Carlisle — who’s ready to let Jason Kidd and the team run.
Dallas Mavericks Fire Coach Avery Johnson
Wednesday
Apr 30, 2008
The Dallas Mavericks fired coach Avery Johnson today in what is suspected to be the first of many off-season moves after the league’s highest payroll produced a second straight first-round knockout from the playoffs.
Johnson leaves with an impressive resume after three-plus seasons, but owner Mark Cuban couldn’t tolerate a bottom line of being 3-12 in the playoff since blowing a 2-0 lead in the 2006 NBA finals.
