You will be redirected back to your article in seconds

AMC picks up theaters

Exhibitor set to purchase most of Kerasotes circuit

AMC Entertainment is set to acquire nearly all Kerasotes Showplace Theaters in a move that will grow AMC’s stable by roughly 970 screens in 93 theaters, mostly in the Midwest. Pricetag wasn’t disclosed.

Kerasotes is the country’s sixth-largest circuit. Privately held exhib is owned by the Kerasotes family and Providence Equity Partners. It was founded in 1909 by Gus Kerasotes, a Greek immigrant.

Deal wasn’t a surprise to Hollywood, since Kerasotes’ private equity partners had made it known they wanted out of the business.

Tony and Dean Kerasotes will retain ownership of their two new Icon concept theaters in Minneapolis and Chicago, as well as a Showplace theater in Secaucus, N.J.

AMC chief exec-prexy Gerry Lopez extolled the complementary geographic footprints of the two exhibs.

Tony Kerasotes, CEO of the Chicago-based company, said Providence’s partnership over the past six years was invaluable in helping to grow the circuit.

Completion of the acquisition is subject to closing conditions and Justice Dept. antitrust approval.

Kansas City-based AMC is the second-largest exhib in North America after Regal Entertainment, operating 4,574 screens in five countries.

More Film

  • Saudi Arabia Lifts 35-Year Cinema Ban

    Saudi Arabia Lifts 35-Year Cinema Ban

    AMC Entertainment is set to acquire nearly all Kerasotes Showplace Theaters in a move that will grow AMC’s stable by roughly 970 screens in 93 theaters, mostly in the Midwest. Pricetag wasn’t disclosed. Kerasotes is the country’s sixth-largest circuit. Privately held exhib is owned by the Kerasotes family and Providence Equity Partners. It was founded […]

  • Korea Box Office: ‘Swindlers’ Wins Third

    Korea Box Office: ‘Swindlers’ Wins Third Weekend

    AMC Entertainment is set to acquire nearly all Kerasotes Showplace Theaters in a move that will grow AMC’s stable by roughly 970 screens in 93 theaters, mostly in the Midwest. Pricetag wasn’t disclosed. Kerasotes is the country’s sixth-largest circuit. Privately held exhib is owned by the Kerasotes family and Providence Equity Partners. It was founded […]

  • Dubai: Mohamed Hefzy's Film Clinic Boards

    Dubai: Mohamed Hefzy's Film Clinic Boards Abu Bakr Shawky's 'Yomeddine' (EXCLUSIVE)

    AMC Entertainment is set to acquire nearly all Kerasotes Showplace Theaters in a move that will grow AMC’s stable by roughly 970 screens in 93 theaters, mostly in the Midwest. Pricetag wasn’t disclosed. Kerasotes is the country’s sixth-largest circuit. Privately held exhib is owned by the Kerasotes family and Providence Equity Partners. It was founded […]

  • China Box Office: ‘Coco’ Stays Tops

    China Box Office: ‘Coco’ Stays Tops Ahead of ‘Paddington 2’

    AMC Entertainment is set to acquire nearly all Kerasotes Showplace Theaters in a move that will grow AMC’s stable by roughly 970 screens in 93 theaters, mostly in the Midwest. Pricetag wasn’t disclosed. Kerasotes is the country’s sixth-largest circuit. Privately held exhib is owned by the Kerasotes family and Providence Equity Partners. It was founded […]

  • IFFAM: Pang Ho-cheung Readies Three Part

    IFFAM: Pang Ho-cheung Readies Martial Arts Three-Parter

    AMC Entertainment is set to acquire nearly all Kerasotes Showplace Theaters in a move that will grow AMC’s stable by roughly 970 screens in 93 theaters, mostly in the Midwest. Pricetag wasn’t disclosed. Kerasotes is the country’s sixth-largest circuit. Privately held exhib is owned by the Kerasotes family and Providence Equity Partners. It was founded […]

  • IFFAM: ‘Newton’ Star Rajkummar Rao Signs

    IFFAM: ‘Newton’ Star Rajkummar Rao Signs Horror Comedy

    AMC Entertainment is set to acquire nearly all Kerasotes Showplace Theaters in a move that will grow AMC’s stable by roughly 970 screens in 93 theaters, mostly in the Midwest. Pricetag wasn’t disclosed. Kerasotes is the country’s sixth-largest circuit. Privately held exhib is owned by the Kerasotes family and Providence Equity Partners. It was founded […]

  • ‘God’s Own Country’ Wins Big at

    ‘God’s Own Country’ Wins Big at British Independent Film Awards

    AMC Entertainment is set to acquire nearly all Kerasotes Showplace Theaters in a move that will grow AMC’s stable by roughly 970 screens in 93 theaters, mostly in the Midwest. Pricetag wasn’t disclosed. Kerasotes is the country’s sixth-largest circuit. Privately held exhib is owned by the Kerasotes family and Providence Equity Partners. It was founded […]

More From Our Brands

Access exclusive content