CinemaStar Luxury Theaters settles lawsuit with Viacom and MTV Networks without damages.SAN DIEGO--(BUSINESS WIRE)--May 4, 1995--CinemaStar Luxury Theaters (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :LUXY), formerly Nickelodeon Theaters, Thursday announced that it has officially settled a two-month-old lawsuit with Viacom's MTV Networks MTV Networks is a division of media conglomerate Viacom that oversees the operation of many TV network and Internet brands, including the first MTV channel. The company was established in 1984 after Warner Communications and American Express decided to divest the basic cable subsidiary without an award of damages. The lawsuit had claimed that the trademark for MTV MTV in full Music Television U.S. cable television network, established in 1980 to present videos of musicians and singers performing new rock music. MTV won a wide following among rock-music fans worldwide and greatly affected the popular-music business. Networks' Nickelodeon television channel was infringed by Nickelodeon Theaters. The company announced last month the change of its name to CinemaStar Luxury Theaters. "This matter was settled in the best way possible for the company and our shareholders," said John Ellison Jr., CinemaStar president and chief executive officer. "Now we can move on to concentrating on managing our business and developing some very promising expansion opportunities. We would rather spend our resources on growing the company than we would on litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. ," he added. CinemaStar Luxury Theaters currently operates a chain of unique multi-screen theaters in Southern California Southern California, also colloquially known as SoCal, is the southern portion of the U.S. state of California. Centered on the cities of Los Angeles and San Diego, Southern California is home to nearly 24 million people and is the nation's second most populated region, , including the Mission Marketplace 8 in Oceanside, Calif., the Galaxy 6 in Bonsall, and the Chula Vista Chula Vista (ch  `lə), city (1990 pop. 135,163), San Diego co., S Calif., on San Diego Bay; inc. 1911. 10. The company's theaters incorporate state-of-the-art projection and sound equipment including Lucasfilm's "THX A design system that provides realistic sound playback for movie and home theater from THX, Ltd., San Rafael, CA (www.thx.com), an independent spin-off from Lucasfilm, Ltd. The THX Sound System was developed during the production of the Return of the Jedi in 1982 and named after George SOUND" environment system and six-channel digital sound. The auditoriums also features plush, comfortable seats, and extra-wide space between seat rows. According to Ellison, CinemaStar is in the final stages of negotiations on several new theater locations, and plans to open two or three luxurious, state-of-the-art, multi-screen complexes each year for the next four years. "This is an exciting time to be in the theater business," said Ellison. "Last year was the highest-grossing box office year ever, and this year could be even better because there are more films being released over the next three to four months than in any previous summer season." CONTACT: CinemaStar Luxury Theaters, San Diego Jon Meloan, 619/630-2011 or MCQUERTERGROUP Don Markley, 619/450-0030 |
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