Carrolltowne Cinemas to change ownership.

Movie Times

Regal Entertainment Group, the country’s largest motion picture exhibitor, announced Monday that it plans to buy Carrolltowne Cinemas and six others from R/C Theatres of Maryland for $31 million in cash.

Knoxville-based Regal Entertainment said in a statement Monday the $31 million deal would add 76 screens while enhancing its presence in Florida, Maryland, Pennsylvania and Virginia.

“During the quarter, we negotiated diligently to acquire several high-quality theaters from R/C Theatres,” said Mike Campbell, Regal co-CEO and head of theater operations.

“We look forward to a swift and successful integration of the acquired theaters by the end of the company’s second fiscal quarter (June 30).”

R/C Theatres owns 18 theaters with 142 screens in Florida, Maryland, North Carolina, Pennsylvania and Virginia. Of the four theaters in Virginia. The other six R/C sites planned for sale to Regal are in Pinellas, Fla., Carlisle, Pa., and Baltimore, Frederick and Hagerstown, Md., and Culpepper, Va. the Associated Press reported.

Regal Entertainment owns Regal Cinemas, United Artists Theatres and the Edward Theatres chains. The company’s 6,273 screens at 558 theaters in 40 states account for about 18 percent of all indoor screens in the U.S.

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