The deal between AMC Entertainment and Rave comes just a few days after Cinemark announced it planned to acquire 32 Rave-owned theaters in 12 states. Here’s today’s release.
KANSAS CITY, Mo.–AMC Entertainment Inc. (AMC) a preeminent U.S. movie exhibitor, and Rave Reviews Cinemas, L.L.C., a portfolio company of BV Investment Partners (Rave), announced today that they have entered into a definitive agreement pursuant to which AMC will acquire four theatres owned by Rave and managed by Rave Cinemas, LLC under the “Rave Motion Pictures” brand. The four theatres have 61 all-digital screens, 46 percent of which are 3D capable. The theaters are in three markets new to the AMC portfolio; Montgomery, Ala., Destin, Fla., and Baton Rouge, La. (two theatres). Each theatre has obtained the No. 1 position in all three markets and the average age of the theatres is nine years, with numerous upgrades having occurred at each location since construction. (more…)