The Los Angeles Times reports that the five-theater Los Angeles-based Sundance Cinemas chain has hired the investment bank Salem Partners to find a buyer for the company, partly owned by Robert Redford.
Sundance owns a theater in Madison, which opened in 2007 at Hilldale Mall. The theaters specialize in a mix of independent and mainstream films, emphasizing high-end accommodations and concessions.
The Madison theater originally had a second-floor restaurant and rooftop bar when it opened. But the second-floor space has only been used for special events in the last few years, and this summer Sundance announced that it would not be opening the rooftop in 2015.
It remains unclear what the sale of the company could mean for Sundance Cinemas Madison’s future, but it already faces competition from Marcus Theatres’ new Palace Cinema in Sun Prairie.
