Nation's oldest chain becomes the eighth-largest theater circuit
The nation’s oldest theater chain, Bow Tie Cinemas, has entered into an agreement to acquire all of Cablevision’s Clearview Cinemas locations, totaling 41 theaters, including Chelsea Cinemas in Manhattan.
The acquisition, which is subject to regulatory closing conditions, will make Bow Tie the nation’s eighth-largest theater circuit, with the most locations in the New York metro area.
Terms of the deal were not disclosed.
“This is a transformational acquisition for Bow Tie Cinemas and an exciting new chapter in our company’s rich history,” said Bow Tie CEO Ben Moss. “Bow Tie makes long-term commitments in the communities where we own theaters by building local partnerships, employing local people and engaging with our patrons.”
Based in Ridgefield, Conn., Bow Tie Cinemas is a family-owned and operated company over 100 years old. The chain, which began during the time of nickelodeons and vaudeville, currently operates 22 theaters located primarily throughout the Northeast. The acquisition will bring the company’s location count to 63, totaling 388 screens.
Bow Tie plans to renovate the acquired Clearview locations, including digital projection with 3D capability, as well as concession stand and point-of-sale upgrades.