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EXHIBITION BRIEFINGS<br />
THERE'S THE<br />
(ALCOHOL) RUB<br />
Cmeplex Odeon Corp. and Cinemark USA<br />
Inc. announced that they have mutually<br />
agreed to terminate plans to implement their<br />
intended $350 million merger, which would<br />
have resulted in the formation of the world's<br />
largest theatre company, with over 500 theatres<br />
and nearly 2,900 screens. This decision<br />
followed Montreal-based beverage marketer<br />
Seagram Co.'s $5.7 billion acquisition of 80<br />
percent of MCA Inc., a major Cineplex shareholder.<br />
Seagram's controlling shareholder,<br />
the Bronfman family, also has a trust that owns<br />
a significant share of Cineplex. The MCA<br />
acquisition therefore gave the Bronfmans<br />
more voting rights than Vice Chairman and<br />
Chief Executive Officer of Cinemark Lee Roy<br />
Mitchell, and this reportedly caused the collapse<br />
in negotiations. Mitchell and Allen<br />
Karp, president and chief executive officer of<br />
Cineplex Odeon, indicated that they plan to<br />
explore possible joint opportunities in the<br />
future on a much less ambitious level than a<br />
full merger.<br />
PRESIDENT ELECTS<br />
TO STAY ON AT NATO<br />
Reversing his decision to resign as president<br />
of the National Association of Theatre<br />
Owners when his contract expires at the end<br />
of 1995, William F. Kartozian has agreed to<br />
stay on tor another two years. "We are obviously<br />
extremely pleased and grateful that Bill<br />
has agreed to stay on," says NATO chairman<br />
Pete Warzel. "His extraordinary acumen has<br />
been well-tested, and everyone in NATO is<br />
keenly aware that Bill is the logical choice to<br />
provide our organization with the necessary<br />
stability and continuity it needs to build and<br />
grow for the future." Kartozian left his position<br />
as president in 1992 and was replaced by<br />
Harmon "Bud" Rifkin, but returned in 1993<br />
when Rifkin's health problems forced him to<br />
resign. (Rifkin passed away April 29; see obituary<br />
below). Kartozian, a graduate of both<br />
Stanford University and Harvard Law School,<br />
began his exhibition career in 1 967 when he<br />
joined the United Artists Theatre Circuit as its<br />
vice president and corporate counsel. He<br />
founded his own theatre circuit. Festival Enterprises,<br />
which had more than 100 screens<br />
in Northern California at the time it was sold<br />
to Paramount Communications in 1986.<br />
Kartozian became president of NATO in<br />
1988. NATO is the world's largest motion<br />
picture exhibition trade association, representing<br />
more than 1 4,000 screens throughout<br />
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