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|Home: BigScreen Journal - Carmike Buys Three Former Rave Cinemas from Cinemark|
Carmike Cinemas has signed an agreement to purchase three movie theaters from Cinemark USA, Inc., according to a press release issued recently. The three theaters were purchased by Cinemark from Rave Cinemas in November 2012 as part of a 32-theater deal, and include the following:
One would hope that those locations didn't order too many Cinemark-branded cups...
Carmike also purchased 16 locations from Rave Cinemas last October, so they are no stranger to converting the brand, locations, and programs to the Carmike way of doing things.
Carmike Cinemas President and Chief Executive Officer David Passman stated:
"Following up Carmike's successful 251-screen Rave acquisition late last year with an additional purchase of three cutting-edge theatre locations from Cinemark is another important step for our organization as we move toward our 3,000 screen target. We continue to actively pursue attractive transactions as we expand our growing circuit."
Carmike currently owns and/or operates nearly 250 locations in the United States. Terms of the deal were not disclosed, but they expect it to be completed in the third quarter, subject to the usual regulatory approvals and closing conditions.
The Stonybrook location has an IMAX screen at this time, and the press release made it sound as though it will be converted to one of Carmike's BigD big-screen concept auditoriums. If that is the case, the closest IMAX theater that would show mainstream movies (as opposed to documentary-based movies shown by the likes of IMAX - Louisville Science Center) will be about 100 miles away in the Cincinnati area at the AMC Newport On The Levee 20.
Source: Carmike Cinemas Press Release
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