Crown pulls out of golf, theaters; Entertainment ventures go through retrenchment.(News)(Henry Crown and Co.)

Crain's Chicago Business | March 5, 2007| | Copyright

Byline: STEVEN R. STRAHLER

The fickle golf business has confounded many sophisticated investors, including Chicago's billionaire Crown family.

After positioning itself for a boom that never happened, Henry Crown & Co. is paring its golf-course unit, part of a leisure-world retrenchment that also involves shuttering its movie-theater operations.

Glenview-based Crown Golf Properties L.P. has cut to 10 the number of courses it owns or manages, down from a peak of 25 in 2001. With two more poised to go at the end of this month, a person familiar with ...

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