Muvico Theaters Announces Exciting Changes Under the Helm of New CEO Neil Bretan

on July 01, 2010

FORT LAUDERDALE, FL -- 2010 is proving to be a banner year for Muvico Theaters as they announce the appointment of long-time friend and consultant, Neil Bretan, as their new President and Chief Executive Officer.

Neil Bretan's relationship with Muvico Theaters began with the company's inception in 1995. From then through 2008, Bretan served as Muvico's outside general counsel, representing the company in all of its major financial and real estate transactions. In early 2009, Bretan played a pivotal role in Muvico's corporate and financial restructuring, from which Muvico emerged debt-free and infused with new capital. Shortly after its restructuring, the company underwent a complete reorganization of its executive team.

Following the 2009 restructuring, Joe Amaturo, a long time investor and now sole owner of the company, brought Bretan aboard to serve as General Counsel and Chief Administrative Officer. It was then that Bretan's work demonstrated that he could take the lead in bringing Muvico into the next decade. In May of 2010, when former CEO Hal Cleveland announced his departure to pursue other interests, including his continued association with Hope for the Children of Haiti, Neil Bretan was promptly promoted to President and CEO.

"Longtime friendships often payoff, and in the case of Neil and I, Neil has proven to be an able, trustworthy and talented lawyer, businessman and friend," observed Amaturo. "Neil undoubtedly knows more of the history and operational underpinnings of Muvico than anyone else I know."

Under Bretan, the company will continue to expand its geographic reach with new theaters and continue to upgrade its existing theaters with the latest and best in cinema technology. "I'm excited and pleased to have the opportunity to work with one of the greatest teams of talented and dedicated colleagues, both at our theaters and at the home office, to advance Muvico's reputation as the World's Premier Movie Experience" said Bretan.

Recently, Muvico completed multi-million dollar revamps of its Pompano 18 Theater in Pompano Beach, Florida, and its Starlight 20 complex in Tampa, Florida. Projection systems in each theater were upgraded to Sony's new 4K high-def systems, providing guests with the highest definition cinema experience available. The Sony 4k system is almost five times sharper than the most advanced home television sets on the market. In addition, Muvico has converted all of its auditoriums at its Parisian 20 Theater in West Palm Beach, Florida, to the Sony 4K projection system and has upgraded the Parisian Theater's IMAX auditorium, the only one in Palm Beach County, to a digital IMAX system. As a result of these recent improvements, Muvico's Pompano, Starlight and Parisian theaters are the only all 4K digital theaters in their respective markets.
Currently Muvico is in the process of reinvigorating its Hialeah location, adding stadium seating, all high-definition Sony 4K digital projection, new and distinctive concession items and a family entertainment center with the latest arcade and prize redemption games. It is anticipated the project will be completed in late fall 2010.

Earlier this year, Muvico unveiled a new section of its BayWalk 20 Theater in St. Petersburg, Florida, called the "The Gallery," a 21 and over environment showcasing independent and art film. The Gallery will offer reserved seating and adult beverage options such as beer and wine and true to its name, will also exhibit the work of local artists.

Muvico continues to operate nine theaters in Florida, Illinois and California, including notably its two newest theaters in Los Angeles and Chicago, each of which features premiere auditoriums and an upscale restaurant. Muvico will continue to expand its nationwide presence, with plans for a new theater in Malvern, Pennsylvania, as well as additional theaters in the greater Chicago and Los Angeles areas.

Muvico Theaters, based in Fort Lauderdale, FL now currently operates 154 screens in nine movie theater locations.


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