Theatrical Exhibition
McGrath has a particular association with theatrical exhibition. In 1948 the U.S. Supreme Court decided the major film studios (Paramount, Universal etc.) must divest themselves of their movie theaters (the "Paramount Consent Decree.") In 1985 Columbia Pictures, then a unit of The Coca-Cola Company, acquired a 58% interest in Walter Reade cinemas in New York. Columbia(which had not been a signatory to the original decree as it had owned no Theaters then) submitted an econometric study by McGrath showing that the inter-relationship and growth of the Home Video, cable TV and subscription Pay TV businesses mitigated the argument that theatrical exhibition was a distinct and unique product market. The deal went forward and Tri-Star Pictures, Warner Brothers, Universal and Paramount all subsequently acquired movie theaters.
At Act III McGrath built what was then the 6th largest theater circuit (Scott Wallace, president), notable for its early adoption of digital sound and extensive roll-out of the THX sound system. While at Paramount McGrath led the development of stadium-seated cinemas building 800+ stadium screens in Canada at Famous Players, eventually achieving a 50% market share; while spurring the rebirth of the contemporary international cinema business building some 1,300 screens in stadium "megaplexes" in 13 countries at United Cinemas International (UCI).
McGrath also pioneered the use of screen advertising in cinemas first at UCI in England (Joe Peixoto, president) and then introducing the idea to North America at Famous Players. He is responsible for the 2001, $15mm renovation of the historic Grumann's Chinese Theater in Hollywood which included the replication of the original tapestries, carpets and drapes from the designer's hand-cut templates. With AMC and Sumner Redstone's Showcase, he formed the online movie ticketing company MovieTickets.com.
Finally, McGrath led the formation of Digital Cinema Initiatives, a joint venture of the major studios, which developed the standards and technology for the introduction of digital cinema. In 2006 he worked with Blackstone to acquire Cineworld, the largest (by box office) theater circuit in the UK (Steve Wiener, ceo) which went public in the Spring of 2007. Cineworld's achievements include leading the introduction of "3D" exhibition technology and currently has more than 50% of the "3D" screens in the UK and Ireland.
Read more about this topic: Tom Mc Grath (media Executive)
Famous quotes containing the words theatrical and/or exhibition:
“Be reflective ... and stay away from the theater as much as you can. Stay out of the theatrical world, out of its petty interests, its inbreeding tendencies, its stifling atmosphere, its corroding influence. Once become “theatricalized,” and you are lost, my friend; you are lost.”
—Minnie Maddern Fiske (1865–1932)
“Work, as we usually think of it, is energy expended for a further end in view; play is energy expended for its own sake, as with children’s play, or as manifestation of the end or goal of work, as in “playing” chess or the piano. Play in this sense, then, is the fulfillment of work, the exhibition of what the work has been done for.”
—Northrop Frye (1912–1991)