(WTVM) - A new blockbuster purchase announced Tuesday will not affect AMC Theatre's ability to close on a similar deal to buy Columbus based Carmike Cinemas, according to AMC officials.
AMC said Tuesday it is purchasing European movie theater operator Odeon & UCI Cinemas Group in a deal valued at a little more than $1 billion.
"AMC remains committed to moving forward with our plan to acquire Carmike Cinemas," said Adam Aron, AMC CEO and President in a press release on AMC's website. "However as per our statement two weeks back, some Carmike shareholders have an unrealistic view as to Carmike's value to AMC, and their resulting price expectations are simply beyond what AMC believes is prudent to pay. We have said all along that AMC is a disciplined buyer, and that very much continues to be the case."
AMC says the transaction with Odeon and UCI Cinemas Group will make it the biggest movie theater operator in the world.