The price includes cash and assumed liabilities and will give the Texas-based exhibition chain an additional 32 theaters with 483 screens in 12 states All of the screens have digital projectors, and 37% are 3D capable. The group also includes seven IMAX screens and nine premium large format auditoriums. “The acquisition of these high quality assets will further enhance Cinemark’s diversified domestic footprint, including the expansion of our presence in the New England market,” Cinemark CEO Tim Warner says. Over the last 12 months the theaters Cinemark is buying sold 18.8M tickets and generated $228.9M in revenues with $41.7M in cash flow. The companies need to run the deal past antitrust officials before it closes. Akin Gump Strauss Hauer & Feld provided legal advice to Cinemark while AGM Partners and Kirkland & Ellis helped Rave.
Cinemark To Pay $240M For Rave Cinemas
What's Hot on Deadline
Bravo Renews & Expands 'Southern Charm', Sets More 'Shahs Of Sunset' & 'Million Dollar Listing New York'
Latest Business News
- U.S. Senate Sets December Date For Time Warner-AT&T Merger Hearing
- Hounds At His Heels, Brad Grey Fights For Paramount’s Future –Part 1
- SAG-AFTRA Teams With ATA To Pay Actors’ Unclaimed Residuals
- Andrew Rannells And Christian Borle Are Tender, If Unlikely, Lovers In ‘Falsettos’ Revival – Review
- NBCUniversal & Comcast Slapped With Age Discrimination Suit By Ex-E! SVP
- The Night State Sen. Ron Calderon Offered To Sell Out The Film Industry For A Bribe