AMC to buy Georgia-based Carmike Cinemas
AMC Theatres plans to acquire Columbus-based Carmike Cinemas in a $1.1 billion deal that will create the world’s largest theater chain, the companies said late Thursday.
AMC said it will pay $30 per share for Carmike, plus assume the Georgia company’s debt. The share price is about a 19.5 percent premium to Carmike’s stock price at the end of trading Thursday.
AMC is owned by a Chinese conglomerate Dalian Wanda Group.
The deal will create a combined company with more than 600 theaters across 45 states, according to a news release. AMC operates more than 5,400 screens, largely in major metro areas, while Carmike has nearly 3,000 screens, mainly in secondary markets. The deal is expected to close later this year.
About the Author
J. Scott Trubey is the senior editor over business, climate and environment coverage at The Atlanta Journal-Constitution. He previously served as a business reporter for the AJC covering banking, real estate and economic development. He joined the AJC in 2010.
