Rave theaters in Baton Rouge to be bought by AMC
Kansas City-based AMC Entertainment Inc., which operates 332 movie theaters nationwide, announced Monday it has reached a deal with Rave Reviews Cinemas to purchase four Rave Motion Pictures theatres—including the two in Baton Rouge. Along with the Rave theaters at the Mall of Louisiana and off O'Neal Lane, the deal includes one theater in each Montgomery, Ala., and Destin, Fla. The four theaters contain a total of 61 digital screens, 46% of which are 3D capable. The average age of the theaters is nine years, says AMC, which did not disclose any financial terms of the deal. "With this strategic acquisition, we are adding new markets to our footprint and serving a new audience in the South and Southeast," says AMC CEO and President Gerry Lopez in a prepared statement. Monday's deal with AMC comes on the heels of a separate deal Rave annouced with Cinemark USA Inc., the nation's third largest theater chain, earlier this month. Cinemark is in the process of acquiring nearly all of the Dallas-based Rave cinema chain's assets for $240 million. That deal, which is subject to regulatory approval, includes 32 theaters located in 12 states, comprising 483 screens. More details on the deal announced Monday are available here.
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