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
Donald Trump Takes Mark Cuban's Pre-Debate Bait; Bill Maher Joins Celebs Prepping For Monday - UPDATE
Latest Business News
- California Enacts Law Preventing IMDb From Listing Actors' Ages
- AMC Rips NATO In Org’s James Murdoch Spat: “Condescending And Gratuitous”
- ‘VAYA’ Director Akin Omotoso Inks With APA; Abrams Artists Agency Signs Grandex, Inc.
- NATO Chief To James Murdoch: “Get The Record Straight” On Theater Exclusivity; MPAA Weighs In – Update
- Rob Moore Exiting As Paramount Vice Chairman
- Disney Mum On New Director, Designer For Broadway ‘Frozen’