Remove ads with our VIP Service
Share This Page
Add Your Comments
- Green Bay, WI: Silver Cinemas - East Town Budget Cinemas Closed [2/10]
- Milwaukee, WI: Former State Theater Severely Damaged by Fire [2/10]
- Lincoln, NE: Recliners Coming to Marcus Lincoln Grand Cinema [2/9]
- Orlando, FL: Cinemark Movie Theater Changes Name After Artegon Marketplace Closure [2/6]
- Kalamazoo, MI: Alamo Drafthouse Cinema Closing in April 2017, New Operator Expected [2/6]
- Corpus Christi, TX: Alamo Drafthouse Cinema Soft Opening on February 7, 2017 [2/1]
- Englewood, CO: UA Greenwood Plaza 12 Closed [1/31]
- Huntington Beach, CA: Regency Charter Centre Cinemas 5 Closed [1/31]
- Sitka, AK: Coliseum Theatre - Sawmill Creek Plaza Closed, Downtown Location Remains Open [1/31]
- Corpus Christi, TX: Alamo Drafthouse Cinema Opening February 10, 2017 [1/27]
Regal Entertainment Group announced today that it has entered into an agreement to acquire Consolidated Theatres for approximately $210 million in cash.
Regal is already the largest theater chain in the United States, and this acquisition will add 28 theatres with 400 screens to Regal's total and increase their presence in Georgia, Maryland, North Carolina, South Carolina, Tennessee, and Virginia.
The deal must go through the necessary approvals, but the Press Release (included below) says that they are hoping to close the deal in the first half of 2008.
Related News Articles
- Regal Adds Consolidated Theatres -- Hollywood Reporter
Regal Entertainment Group Announces Agreement to Acquire Consolidated Theatres
Knoxville, Tennessee - January 15, 2008 -- Regal Entertainment Group (NYSE: RGC), a leading motion picture exhibitor owning and operating the largest theatre circuit in the United States, today announced that it has entered into an agreement to acquire Consolidated Theatres for approximately $210 million in cash.
The proposed acquisition will add a total of 28 theatres with 400 screens to Regal's portfolio and enhance Regal's presence in Georgia, Maryland, North Carolina, South Carolina, Tennessee and Virginia. The consummation of the acquisition is subject to customary closing conditions.
"We expect the acquisition of Consolidated Theatres to be accretive to cash flows and earnings and are pleased to announce an agreement to purchase these high quality assets," stated Mike Campbell, Chairman & CEO of Regal Entertainment Group. "Accretive acquisitions are a key component of our overall business strategy and we look forward to a successful closing and integration of the Consolidated Theatre assets during the first half of 2008," Campbell continued.
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 2006 Annual Report on Form 10-K filed with the Securities and Exchange Commission on February 26, 2007. All forward-looking statements are expressly qualified in their entirety by such factors.
About Regal Entertainment Group
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 6,355 screens in 526 locations in 39 states and the District of Columbia. Regal operates theatres in all of the top 25 and 43 of the top 50 U.S. designated market 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.
Additional information is available on the Company's Web site at www.REGmovies.com.
Source: Regal Entertainment Group Press Release
Add Your Comments
No comments found. Be the first and let us know what you think!
Add Your Comments
|Commenting on Journal Articles is available only to our readers who have customized this site, which makes it easier for you to complete the form and for us to contact you with any questions or concerns about your comments.|
Please login or register a new account before continuing.
Log in to retrieve your saved settings.
Forget Your Passcode?Send My Passcode To Me
Not Registered? Create a New Account!
Our registered members enjoy more features, including:
- Save Your Location -- the site remembers your location, no having to re-enter it each time you visit
- Favorite Theaters List -- keep a handy list of the theaters you attend
- Favorite Movies List - movies you want to see, all in one place
- Write Movie Reviews -- share your opinions of the movies you see
- Block Ads with VIP Service -- view this site ad free (subscription req'd)
Basic accounts are free -- sign up today!
Concerned About Privacy?
Journal/Blog - The Marquee - Movie Links - News and Events - Now Showing - Reader Reviews
Customize - VIP Service
|The BigScreen Cinema Guide is a service of SVJ Designs LLC. All graphics, layout, and structure of this service (unless otherwise specified) are Copyright © 1995-2017, SVJ Designs. The BigScreen Cinema Guide is a trademark of SVJ Designs. All rights reserved.|
'ACADEMY AWARDS®' and 'OSCAR®' are the registered trademarks and service marks of the Academy of Motion Picture Arts and Sciences.