GC, Redford to Create Chain for Independents

GC Cos., which operates the General Cinema movie theaters, has teamed with actor and movie producer Robert Redford to create a chain that will show only independent films.

The theaters, to be called Sundance Cinemas, will try to tap into the growing market for such films, which typically aren’t produced by major studios. They include 1996’s Academy Award-winning “The English Patient,” which had $80 million in U.S. ticket sales.

The venture is the latest foray into promoting independent films by Redford, the star of such movies as “Butch Cassidy and the Sundance Kid” and “All the President’s Men.” He operates the annual Sundance Film Festival, the largest and most influential festival in the independent movie industry.

General Cinemas “couldn’t do this without the Redford and Sundance names,” said Steven Bregman, an analyst for the Spinoff Report.

Terms of the deal were not disclosed.

The chain will specialize in showing American independent films as well as international movies and documentaries that often have trouble getting shown in mainstream theaters.

The industry has grown rapidly in the last five years: The number of independent films has increased more than 40%, box-office revenue more than 70%, said Stephen Rivers, who represents the Sundance Institute.

GC Cos. operates 185 theaters with 1,168 screens in 25 states. The Chestnut Hill-based company’s shares closed at $39, down 38 cents, on the New York Stock Exchange.

Redford’s Sundance Film Festival, which started in 1980, has launched many box-office successes, including the recent “Shine.”