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Slide #63. Regal Entertainment Group — Hollywood Theaters
Regal Entertainment Group (RGC)
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 Hollywood Theaters. The purchase price will consist of $191 million in cash, approximately $47 million of assumed lease obligations, comprised of capital leases and financing obligations, and certain working capital. The cash portion of the purchase price includes repayment of approximately $157 million of the sellers' debt and is subject to customary post-closing adjustments.
Regal Entertainment is a holding company. Through its subsidiaries, Co. operates theatre circuits consisting of 7,267 screens in 561 theatres in 42 states along with Guam, Saipan, American Samoa and the District of Columbia as of Dec 31 2016. Co. operates its theatre circuit using its Regal Cinemas, United Artists, Edwards, Great Escape Theatres and Hollywood Theaters brands. Co. develops, acquires and operates multi-screen theatres primarily in mid-sized metropolitan markets and suburban growth areas of larger metropolitan markets throughout the U.S. Some of Co.'s theatres provide amenities such as wall-to-wall and floor-to-ceiling screens and Sony Digital Cinema 4K projection systems.
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