Mark Cuban Ups Interest in Theater Chain
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Mark Cuban, billionaire owner of the Dallas Mavericks, has reiterated his stake in Reading International, owner of venues like the Orpheum Theater, where Stomp played for 21 years. On Monday the Shark filed a 13D form with the SEC, indicating he plans to become an active investor. Cuban holds 13.1% of Reading's outstanding voting stock, giving him the second-strongest voting power next to the estate of the late James Cotter Sr., the New York Post reports. He purchased the 207,611 Class B voting shares for $1,042,450. He also holds 72,164 Class A nonvoting shares. Reading International has been entangled in a family dispute since patriarch James Cotter Sr. died. His successor, James Jr., was overthrown as CEO by his two older sisters. Cuban and his partner, Todd Wagner, own theater rival Landmark Cinemas. [NYP]