Mark Cuban Taking Offers For Magnolia Pictures, Landmark Theatres

Mark Cuban told Bloomberg today that he is “just testing the waters” by putting his distribution company Magnolia Pictures and exhibition chain Landmark Theatres up for sale. Regardless, there will be an auction for two of the divisions in Cuban and Todd Wagner’s 2929 Entertainment, which also houses the pair’s cable channel HDNet. Bidders are expected to file offers next week, a source told Bloomberg. “We won’t sell unless the offer is very, very compelling,” Cuban said. Landmark has 55 theaters and 245 screens in 21 cities. Magnolia distributes indie films in theaters and via video-on-demand.