Exhib chain to convert screens to digital immediately
Fresh off an acquisition from Rave Review Cinemas, Carmike said Friday it’s acquired two movie theaters with 16 screens from Phoenix Big City Cinemas.
Financial terms weren’t released. Carmike will start converting the screens to digital immediately using Christie digital projectors from its own inventory and install four 3D screens in each location with tech partner RealD.
The theaters, in Madisonville, Kentucky and Greeneville, Tennessee “represent an ideal complement to our existing footprint in terms of geographic fit, market size and asset quality,” said Carmike CEO David Passman.
He said the chain would continue scouting for theaters in “small to mid-sized, non-urban markets” as it looks to expand to 300 theaters and 3,000 screens.
Regal, AMC and Cinemark have also inked deals recently as the sector consolidates.