A PYMNTS Company

Americas: Movie theatre giant ready to buy up even more screens

 |  May 21, 2013

Cinemark Holdings Inc., which currently owns more than 5,000 movie theatres across the US and Latin America, has been cleared by the US Department of Justice to buy smalltime company Rave Holdings LLC, which controls 30 theatres within 12 US states. According to reports, the DOJ has cleared the acquisition, which has been valued at about $220 million, as long as Cinemark divests theatres in Kentucky, New Jersey and Texas, as well as its string of 16 Movie Tavern screens.

Full Content: Reuters

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.