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Regal Cinemas works Magic

NEW YORK — Regal Cinemas Inc. is expanding in Pennsylvania and New Jersey, buying Magic Cinemas LLC’s five theaters for $24.5 million.

The cash deal eventually will add 95 screens to Regal’s existing total of 1,295. Magic now operates 36 screens but plans 52 more screens in four theaters and the addition of seven screens to an existing theater, Regal said in a statement.

Regal said the acquisition would complement its “existing operations in New Jersey and Pennsylvania.” Once the deal closes, Regal will “proceed with the construction of the theaters under development, all of which are scheduled to be open within the next 12 to 18 months.”

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