Latest in Carmike Cinemas

AMC Entertainment served up a popcorn tub of news today after the market closed: It announced terms of a deal to restructure its relationship with National CineMedia, part of the consent decree with the Justice Department to win approval for last year’s $1.1 billion acquisition of Carmike Cinemas. The No. 1 exhibition…

Adam Aron was virtually unknown in exhibition a year ago when Dalian Wanda Group picked him to run AMC Entertainment. Now the movie industry can’t ignore the exec who spent much of his career running tourism companies including Starwood Hotels and Resorts, Vail Resorts and Norwegian Cruise Line as well as the NBA's…

AMC Entertainment CEO Adam Aron meant it when he said yesterday that he expected an “imminent” closing of his $1.1 billion cash and stock acquisition of Carmike Cinemas after agreeing to Justice Department terms for the deal. Dalian Wanda Group-controlled AMC became the nation’s largest exhibition chain this morning…

Updated with information from AMC conference call: AMC Entertainment cleared the last remaining hurdle in its $1.2 billion effort to buy Carmike Cinemas by agreeing to the terms Justice Department antitrust officials set to win their approval for the deal. The Dalian Wanda Group-controlled exhibition chain plans to…

AMC Entertainment is having a good week: The European Commission just approved its acquisition of UK-based Odeon & UCI Cinemas, one day after Carmike Cinemas shareholders OKed a plan to sell to AMC. The $1.1 billion deal for Odeon & UCI should close around November 30, the Wanda Group-controlled exhibition chain says…

Updated with additional vote details: Carmike Cinemas shareholders just approved AMC Entertainment’s cash and stock takeover offer valued at $1.2 billion (including debt) — or $33.06 a share. That clears an important hurdle in AMC’s effort to become the world’s No. 1 exhibition chain. The offer won the support of more…

AMC Entertainment’s decision to raise its bid for Carmike Cinemas by 10% to $1.2 billion (including debt) changed Institutional Shareholder Services’ view of the deal. The influential advisory firm, which initially opposed the acquisition, just circulated a report urging investors to support it when they vote on…

Carmike Cinemas shares are up 3.7%  to about $31.34 in afternoon trading after a leading shareholder opponent of AMC Entertainment’s takeover offer switched to favor the deal. Dreihaus Capital Management, which owns about 10% of Carmike, says that it will begrudingly “vote a substantial majority of our shares in favor…

The dreary financial results that Carmike Cinemas just released for its Q2 may provide supporting evidence for a key rationale behind its $1.2 billion sale to AMC Entertainment — that it faces hard times if it remains a standalone company. The No. 4 chain closed the June quarter with a $1.6 million net loss, a 10.6%…

AMC Theatres’ CEO Adam Aron adopted a defiant tone in a call with analysts to discuss his company’s sweetened $1.2 billion (including debt) offer for Carmike Cinemas. Although he expects a “hysterical letter of protest to come out any second” from shareholders who think his new $33.06-a-share offer is still too low…

AMC Theatres agreed this morning to increase its offer for Carmike Cinemas by about 10% to $1.2 billion (including debt),  leading the No. 4 exhibition chain to postpone for the third time a shareholder vote on a transaction. It had been scheduled to take place this morning. The new cash and stock offer comes in at…

One of Carmike’s biggest shareholders says it might go to court if AMC Entertainment tries to win the No. 4 theater chain by increasing its offer by $3 to $33 a share and they allow recent investors to vote. Mittleman Bros, which owns 9.6% of Carmike, says it still would oppose such an offer at a shareholder vote…