| 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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