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Regal Must Sell Four North Carolina Theaters

Posted on Wednesday, May 14th, 2008 8:41 AM

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The Knoxville News Sentinel is reporting that the U.S. Department of Justice is requiring Regal Entertainment Group to sell four movie theaters in North Carolina to satisfy antitrust concerns related to its recent acquisition of Consolidated Theatres.

The affected theaters are the Crownpoint 12 in Charlotte, the Raleigh Grande 16 in Raleigh, the Town Square 10 in Garner (a Raleigh suburb), and the Hollywood 14 in Asheville.

According to the Justice Department, the divestitures are "required to assure continued competition in markets where the transaction would otherwise result in a loss of competition." The department's complaint says Regal and Consolidated movie theaters would be competing head-to-head in each of the North Carolina markets.

The Antitrust Division said without the divestiture the merger would substantially lessen competition among first-run commercial movie theaters in those markets, resulting in higher ticket prices and a decreased movie-going experience for customers.

Click the Read link below to view the full article on the News Sentinel web site.

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