20th century , in
Tasmania, Australia, was acquired by Reading Cinemas in November 2019. In the late 1980s, through his holding company the Craig Corporation,
Los Angeles–based lawyer James Cotter acquired the
Reading Company, a former American railroad company that held a portfolio of
real estate properties after it sold its railroad assets and
rolling stock in 1976. Through the rest of the 1990s, Cotter acquired, developed, and operated real estate properties, focusing on cinema exhibitors and live theatre operators. Most of the company's holdings by this time were located far beyond the company's historical native ground of eastern
Pennsylvania. Reading entered the
Australia market in 1995 and the
New Zealand market two years later, in 1997, developing a chain of multiplex cinemas that operated under the Reading banner and exhibited mainstream films. In the United States, Reading pursued a more offbeat business direction, acquiring an art-house theatre at the historic
Cable Building in
New York City in 1996 that operated under the name
Angelika Film Center, a brand that it owns. The company also acquired and expanded a chain of multiplex cinemas throughout the island of
Puerto Rico.
21st century Cotter died in August 2014, leaving his investment in the company in trusts that have been subjected to multiple years of litigation between his designated successor CEO, his son James Jr., and his daughters (Jr.'s sisters), Ellen and Margaret. In 2015, James Jr. was ousted by his sisters and a majority of the board of Reading International and Ellen Cotter subsequently was named CEO. In 2023,
Mayor of Wellington Tory Whanau and the Wellington Council had voted to give council staff the approval to negotiate the NZ$32 million agreement to refurbish and earthquake-strengthen the
Wellington building, which housed the historic Wellington theater, but had been closed since 2019. In April 2024, the
Wellington City Council exited the agreement, citing Reading's inability to come up with its share of the investment. == See also ==