![]() ![]() It all began with Greek immigrant Louis Santikos saving enough money to buy the Rex Theatre nickelodeon in downtown Waco in 1911, when the concept of moving pictures on film was only about 16 years into development. The early short films were usually combined with live acts. In 1918, San Antonio business leaders came calling for Santikos to run the downtown Rialto. ![]() He then built the luxurious Palace Theater San Antonio in 1923 and it wasn’t long before he began opening more theaters to accommodate the growing population. The following year, Louis Santikos returned to Greece and had three children, including John. He sold his San Antonio interests in favor of distributing movies in his homeland. Civil unrest drove him and his family back to San Antonio, where he opened the Olmos Theater on San Pedro in the 1940s. John Santikos began learning the business from the ground up and, after graduating from St. Mary’s, took over when his parents returned once again to the Mediterranean the following decade. Mission Drive In, The Galaxy, Embassy and Northwest theaters all were part of the ever-growing thirst for the Hollywood blockbusters. In 1977, Santikos was famously outbid for the right to show George Lucas’ first “Star Wars” movie in San Antonio. Rather than give up on a sure blockbuster that would stay on the big screen for nearly a year, Santikos bought the theater with the San Antonio exclusive rights.īy the mid-1980s, going to Santikos and going to the movies were one and the same with every San Antonio movie house under the brand. That market dominance made the chain an attractive acquisition target and lenders were backing such acquisitions and national theater chain growth to the hilt before the go-go ’80s gave way to a chain of events that decimated financial institutions, business investments and real estate in general late in the decade and into the early 1990s. In 1986, two years after his father’s death at the age of 91, Santikos decided the time was right to sell all his theaters to Act III theaters, an investment group fronted by legendary television series creator Norman Lear. ![]() Santikos consulted with the company until it sold to Regal Cinemas, but his primary focus for the next 15 years was on real estate. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |