Carmike buys two theaters from Phoenix Big City

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.

Want to read more articles like this one? SUBSCRIBE TO VARIETY TODAY.
Post A Comment 0

Leave a Reply

No Comments

Comments are moderated. They may be edited for clarity and reprinting in whole or in part in Variety publications.

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

More Film News from Variety