Briefs: Tyler Perry’s newest production company, Atlantic Station Regal face-lift, Areu Bros. investment stimulus

Originally posted Wednesday, September 4, 2019 by RODNEY HO/ on his AJC Radio & TV Talk blog

Atlanta media mogul Tyler Perry has teamed with his former Lionsgate marketing partner Tim Palen to create a new production company Peachtree & Vine.

The name combines a famous street name in Atlanta with a famous street in in Los Angeles, where Palen is based.

Perry already has a long-term content deal with Viacom and its BET properties. BET has two new Perry TV dramas in the works: “Sistas” and “The Oval.” He also works with Paramount Pictures, which released his film “Nobody’s Fool” earlier this year.

Palen marketed all 10 of Perry’s “Madea” films, a franchise Perry concluded recently with “A Madea’s Family Funeral.”

In a press release, Perry said: “Tim and I have had great success in our many years of working together — he truly understands my audience and my brand. I value his taste in material and his understanding of the current marketplace of film and television and I’m looking forward to continuing our work together."

Next month, Perry will finally hold a big opening party for his studios at Fort McPherson, which he started using in 2016.


Credit: Marcus Ingram

Credit: Marcus Ingram

Ozzie Areu, who ran Tyler Perry Studios for many years, ended up buying Perry's former studios last year. He now has come up with a way to draw more investors via  Qualified Opportunity Zones.

These zones were created to spur economic development and job creation in distressed communities by providing tax breaks to those who invest eligible capital. His studio is in a qualified zone in Fulton County.

Areu, in a press release, said his company will invest in entertainment, real estate and venture capital in Atlanta, Miami, Puerto Rico and Los Angeles.

He has some heavy hitters on his team: Steve Glickman, a former senior economic advisor to former Pres. Barack Obama and one of the architects of the Qualified Opportunity Zone program; Andrés W. López, another Obama advisor; and singer Gloria Estefan, who recently became a partner and executive with the company.

Areu plans to expand operations on the remaining 30 acres at its Atlanta-based 56-acre studio lot once owned by Perry. The lot now has five sound stages, a suburban back lot and four administration buildings. Areu plans to add a recording studio, a technology center and more sound stages.

Areu's studio is considered the largest Latino-owned movie and TV production operation in America.


Atlantic Station Regal Cinema, the busiest movie theater in Georgia, is planning a major renovation.

The 18-screen theater opened 14 years ago and Nick Carzia director of leasing for Atlantic Station, said "cosmetics were feeling a little tired. You get that amount of customers in the doors and it adds wear and tear."

He said there are some rival theaters opening up not too far away and Regal “wants to stay ahead of the curve.” And streaming services are providing even more incentive for consumers to stay home, he noted.

Five out of the 18 screens will soon have a VIP format, up from the current two. These theaters will feature BarcaLoungers and reserved seating. It will also have the first 4D theater in the state, an experiential type set up where if a car crashes, your seat will shake.

There will also be an updated marquee and a smoother way to enter the theater.

The theater will remain open during renovations, which should be completed by the summer of 2020.

In the near future, Carzia added, Atlantic Station will also add eight new restaurants, three new flagship retailers, two new office buildings, three new hotels and a new residential building.