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Rave Motion Pictures to Buy Up to 40 Theaters, 35 from National Amusements

Posted on Tuesday, December 22nd, 2009 9:02 AM

Rave Motion Pictures LogoRave Cinemas, LLC. announced today that it will be acquiring up to 40 movie theaters, including 35 from National Amusements, and operating them under the Rave Motion Pictures brand name.

The National Amusements sale was reported here back on December 9th, and this announcement confirms that news.

The press release mentions that the sale of 29 theaters has been finalized. The company also acquired the business operations of four theaters from Rave Reviews Cinemas, LLC. (RRC), together with RRC's corporate infrastructure and the Rave Motion Pictures brand. RRC will retain 21 of its existing theaters, which will be managed by Rave under a management services agreement. The day-to-day business and operations of Rave will be managed by RRC's former management team.

The exact list of locations affected by this announcement has not been disclosed.

The venture will operate under the Rave Motion Pictures brand name, and the company anticipates it will own or manage 65 theaters and approximately 1,000 screens located in 20 states across the country. Rave is expected to become the fifth largest domestic circuit by box office gross and number of screens.

Source: Rave Cinemas, LLC Press Release

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