Congratulations to Jerry and Teddy Croney, owners of White Mountain Entertainment Movie Theatres, our 2006 Arizona Success Award Winners!

Theatre Locations

WME Theatre Show Low                    1850 S. White Mountain Rd.              Show Low

WME Theatre Lakeside Village 8         1501 W. White Mountain Blvd.            Pinetop-Lakeside

Lakeside Discount Cinema                20 E. White Mountain Blvd.                  Pinetop-Lakeside

Incorporated  March 2001

Employees at startup 15

Anticipated employees December of 2005        50

First Year Revenue                               $1,200,000

2004 Revenue                                      $2,4000,000

2005 Revenue Projection                      $2.6000,000

2006 Revenue Projection                      $4,000,000

Initial start up capital came from the same of a computer related business sale in 2000. This amounted to approximately $800,000. This was supplemented by a seller carry back of the theatre operation in $2001. In 2002 an SBA guaranteed loan in the amount of $1,600,000 to purchase the land and building of the Show Low operation and fund remodeling to convert the theatre from a twin to a 5 plex.

In 2004, loans amounted to approximately $600,000 for the carry back, $1,600,000 SBA guarantee to BLX Capital and an $80,000 line of credit from Bank One.

The Winchester Theatre in Show Low and Lakeside Cinema in Pinetop-Lakeside were purchased from  Jay and Sharyn Hatchcock in June of 2001. The two twin theatres enjoyed good business for a rural market but were terribly run down and need of upgrade. Both building were leased.

In September of 2001 our first major undertaking was to bring the computer systems, POS systems and accounting into the 21^st Century. Internet ticketing was implemented and our own private label gift and reward card. We also began taking credit cards.

In March of 2002 both theatres were upgraded to 100% digital sound. In addition, new larger screens, projectors were installed. Automation for the theatre systems were installed to allow for better utilization of staff. The Lakeside theatres also saw new interiors in both auditoriums.

In June of 2002, Show Low and Pinetop-Lakeside were evacuated for the Rodeo Chedeski fire complex. The theatres however did not remain dark as the theatre were called to action to provide much needed rest and leisure for the huge force of firefighters, police, sheriff, national guard etc. protecting our neighborhoods. The days before the evacuations saw familys with all their belonging packed in their cars just getting away from the stress and pressure of the fires. The day people were allowed back to their homes, WME Theatres were ready and saw many, many thankful people return to the movies to get away from the stress. The week following the return was the biggest week  either theatre had ever seen.

Even while evacuated, competition seeing our success, was making plans to build in Show Low. We immediately jumped into high gear with plans to expand the Show Low operation

In September of 2002, the Winchester Theatre in Show Low was closed to renovate into a modern state of the art stadium 5 screen theatre. On November 12^th the first 2 screens reopened followed by the addition 3 screens opening in December of 2002. The new theatre was to be called WME Theatre Show Low.

Our success following the expansion of the Show Low theatre started our competition again looking at expanding into Show Low. In March of 2003 our plans were set to expand in Pinetop-Lakeside to an 8 screen theatre. We immediately started the hunt for an acceptable parcel of land where we could not only build the theatre but have addition space for restaurants and retail to great a walkable, pedestrian complex to anchor Pinetop-Lakeside.

We quickly found 5 acres on the corner of Woodland and White Mountain Blvd. Prime space with heavy traffic flow, a traffic light, directly across the street from Blue Ridge Schools. Financing was but a dream and very limited cash flow following the Show Low expansion made the project all but impossible.

Two years later and hundreds of setbacks, challenges, etc, offset by incredible encouragement from the community, business leaders and town, the complex is now under construction with an expected October 28, 2005 completion.

The Village 8 Theatre will be totally state of the art with digital sound, wall to wall screens, full stadium seating and rocker love seats in all auditoriums.

The SBDC has been part of our the Village project since it inception. Countless hours were spent with Mark Engle preparing financial projections, feasibility, market and traffic studies, and general encouragement. Since we already were tapped our for SBA guarantees we initially looked at a USDA Rural Development Fund as our funding source. Requirements included a market feasibility study. Mark was there to help us gather all the necessary information as required by the USDA. Unfortunately by the time all the prerequisites were put together a new funding year had passed and USDA funding was not available. We then scoured with the help of Mark every conceivable funding alternative and for a long time looked quite bleak. At one time the most likely direction was to refinance the Show Low SBA loan to free up SBA guarantee. Magically during this time the SBA guarantee limit was increased and the eventual financing was a combination of a SBA 504 guarantee and convention financing.

We could not have accomplished this major project without Mark’s guidance, encouragement, and most importantly, full support and belief in our community.

Many believe that our development in the heart of Pinetop-Lakeside is the driving force of the incredible growth and new development in the town. Property values for commercial real estate has more than doubled since we announced the location for our new theater.