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

  • Rebel Wilson and Taye Diggs

    Concert Review: 'Beauty and the Beast' Gets Adoring Tribute at Hollywood Bowl

    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 […]

  • Solo a Star Wars Story Deadpool

    It's Official: Deadpool Is Now Cooler Than Han Solo

    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 […]

  • solo a star wars story

    Box Office: 'Solo: A Star Wars Story' Headed for Underwhelming Holiday Weekend Debut

    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 […]

  • solo a star wars story

    How the Kasdans Settled the Biggest Debate in 'Star Wars' History With 'Solo'

    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 […]

  • Morgan Freeman Sexual Harassment

    Morgan Freeman Issues New Statement: 'I Did Not Assault Women'

    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 […]

  • Euphoria Review

    Cannes Film Review: 'Euphoria'

    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 […]

  • David Permut

    David Permut, Naomi Kawase Join Shanghai Festival Jury

    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