Landmark Theatres, the 52-theater arthouse chain that owns Kendall Square Cinema and Embassy Cinema in Waltham, has been sold to Cohen Media Group, a film production and distribution company owned by billionaire, self-proclaimed cinephile Charles S. Cohen. The terms of the deal were not immediately disclosed.

In April, Landmark�s parent company, 2929 Entertainment, hired a bank to field potential purchase offers. Eventually, the chain was sold to Cohen, who lives in Manhattan.

Cohen has invested some of his fortune not only in independent films themselves, but also arthouse cinemas in New York and Florida since 2008. In the last decade, his media group has received eight Oscar nominations, including five foreign-language nominees, according to Variety.

�We are thrilled that we are passing the baton to Charles, a buyer who is passionate about independent cinema and who truly understands this market. As we complete our sale, we expect the transition between owners to be smooth and seamless with little to no impact on our staff or customers,� said Todd Wagner and Mark Cuban, previous owners of Landmark Theatres, in a press release about the sale.

"Anyone who knows Charles, knows he is an avid lover of art and cinema, and this deal to purchase Landmark serves so many of his true passions and interests,� said Ted Mundorff, Landmark Theatres' acting president and CEO. �By acquiring our chain, he has supercharged and scaled his distribution footprint in the arthouse sector, where he has been a savvy distributor and producer for many, many years.�

Positive reaction

The reaction of the Greater Boston film community has largely been positive.

�Cohen has clearly shown a real dedication to [the art-house cinema] world by rehabbing theaters and making sure there are places for films on the margins to play,� said Brattle Theatre Creative Director Ned Hinkle.

Hinkle noted that while the nonprofit Brattle and for-profit Kendall compete with each other in some areas, they both do things the other cannot.

�We have very different calendars and programming,� said Hinkley.

Across the river in Brookline, Coolidge Corner Executive Director Katherine Tallman echoed Hinkle�s comments.

�The sense from my colleagues in the arthouse community is that this is good,� said Tallman

Tallman pointed to strong local box office numbers at the Coolidge and Kendall as evidence there is more than enough market share for multiple arthouse theaters in Greater Boston.

�We share a smart audience though I think our demographics skew slightly older than theirs,� said Tallman.

In Davis Square, Somerville Theater Director of Operations Ian Judge said he, too, sees the sale as a positive development for moviegoers. He also emphasized a niche chain the size of Landmark has the ability to �make or break� an independent film.

�Fox Searchlight or Magnolia Pictures isn�t going to worry about getting a screen in Boston, but there�s been a lot of small independent films that the Kendall has passed on,� said Judge.

Harvard Film Archive Director Haden Guest called the sale a positive and is hopeful it will give Kendall an opportunity for a reset in its programming.

�I think it will be wonderful for cinephiles in this area,� said Guest.

History

The nine-screen Kendall Square Cinema opened in September 1995. The cinema underwent major renovations last year, including the addition of a new bar and new recliner seating. Construction on a new building adjacent to the cinema is ongoing.

In a statement, Cohen said that his experience in the arthouse film world has given him a strong appreciation for the theatergoing experience.

"I have been in the arthouse business for a long time as both a distributor and a producer, and I know better than most, that these films need a special home and require the utmost care. Landmark is that home,� he said.

Editor's note: The reporter of this piece is a member of the Brattle and Coolidge theatres.