Scott Wallace serves as the Chairman and CEO of Hollywood Theaters. In 1986, Wallace founded Act III Theaters with the financial backing of television producer Norman Lear. He also serves as an Angel Investor. Act III was ultimately sold to an affiliate of KKR in December 1997. Upon leaving Act III in 1991, Wallace founded Wallace Theater Corporation ("WTC"). In April 1999, Wallace sold WTC to GTCR and subsequently partnered with GTCR to combine WTC with Dallas-based Hollywood Theaters. The combined circuit of over 700 screens was renamed Wallace Theater Corporation II with a new Portland, Oregon-based management team led by Wallace. Prior to Act III Theaters, Wallace was a Senior Vice President of American Multi Cinema, a unit of AMC Entertainment.