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|Home: BigScreen Journal - Regal Cinemas Acquires 4 Theaters, Exchanges 2 with AMC|
Knoxville, Tennessee - September 15, 2006 -- Regal Entertainment Group (NYSE: RGC), a leading motion picture exhibitor owning and operating the largest theatre circuit in the United States, today announced the acquisition of four theatres with a total of 58 screens from AMC Entertainment Inc. Regal acquired the theatres in exchange for approximately $34.0 million in cash and two Regal theatres.
"The acquired theatres will enhance the Company's presence in key markets and we were pleased to add quality theatres to our asset base," stated Mike Campbell, CEO of Regal Entertainment Group.
This press release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements included herein, other than statements of historical fact, may constitute forward-looking statements. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to be correct. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed in the risk factors contained in the Company's 2005 Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 14, 2006. All forward-looking statements are expressly qualified in their entirety by such factors.
Regal Entertainment Group (NYSE: RGC) is the largest motion picture exhibitor in the world. The Company's theatre circuit, comprising Regal Cinemas, United Artists Theatres and Edwards Theatres, operates 6,383 screens in 542 locations in 40 states and the District of Columbia. Regal operates approximately 18% of all indoor screens in the United States including theatres in 43 of the top 50 U.S. markets and growing suburban areas. We believe that the size, reach and quality of the Company's theatre circuit not only provide its patrons with a convenient and enjoyable movie-going experience, but is also an exceptional platform to realize economies of scale in theatre operations and, through its investment in National CineMedia, LLC, further realize cinema advertising, marketing and other revenue enhancing opportunities by utilizing Regal's existing asset base.
Source: Regal Cinemas Press Release
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