Travel & Entertainment M&A » By The Online Investor Staff, updated Tue., Aug. 9, 4:12 AM
Recent mergers and acquisitions in the Travel & Entertainment M&A category.
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Slide #47. Carmike Cinemas — Three State-of-the-Art Theatres Totaling 52 Screens from Cinemark
Acquirer:
Carmike Cinemas (CKEC)
Acquiree:
Three State-of-the-Art Theatres Totaling 52 Screens from Cinemark (CNK)
Details:
Carmike Cinemas, Inc. (NASDAQ:CKEC) today announced the signing of a definitive agreement to purchase three digital entertainment complexes in Louisville, KY (Stonybrook 20), Voorhees, NJ (Ritz Center 16) and Hickory Creek, TX (Hickory Creek 16) with an aggregate of 52 screens from Cinemark USA, Inc., a wholly-owned subsidiary of Cinemark Holdings, Inc. (NYSE:CNK). Terms of the agreement were not disclosed. The transaction is expected to close during the third quarter, subject to customary closing conditions.
Carmike Cinemas is a motion picture exhibitor. As of Dec 31 2015, Co. owned, operated or had an interest in 275 theatres with 2,938 screens located in 41 states. All of Co.'s theatres are equipped to provide digital cinema. As of Dec 31 2014, Co. had 258 theatres with 1,088 screens equipped for three-dimensional. From time to time, Co. converts weaker performing theatres to discount theatres for the exhibition of films that have previously been shown on a first-run basis. Additionally, Co. operates one family entertainment center under the name Hollywood Connection® which feature multiplex theatre and other forms of family entertainment as well as two Bogart's® Bar and Grill Restaurants.
Open the CKEC Page at The Online Investor »
Carmike Cinemas is a motion picture exhibitor. As of Dec 31 2015, Co. owned, operated or had an interest in 275 theatres with 2,938 screens located in 41 states. All of Co.'s theatres are equipped to provide digital cinema. As of Dec 31 2014, Co. had 258 theatres with 1,088 screens equipped for three-dimensional. From time to time, Co. converts weaker performing theatres to discount theatres for the exhibition of films that have previously been shown on a first-run basis. Additionally, Co. operates one family entertainment center under the name Hollywood Connection® which feature multiplex theatre and other forms of family entertainment as well as two Bogart's® Bar and Grill Restaurants.
Open the CNK Page at The Online Investor »
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