Carmike Cinemas gets ‘best and final offer’ from AMC Theaters
COLUMBUS, GA (WTVM) – In a press release regarding its acquisition of Columbus-based Carmike Cinemas, AMC Theaters said they have made their "best and final offer" in closing the deal on the entertainment company.
In the latest offer, a number of "key transaction benefits" were listed, including the moving of the combined headquarters to Leawood, KS, where AMC is currently located. Carmike Cinemas is headquartered in Columbus.
"For absolute clarity, let there be zero room for doubt or miscalculation. This latest agreement between AMC and Carmike is our best and final offer for Carmike," AMC Theaters CEO and President Adam Aron said.
The original acquisition announcement was made in March 2016. AMC says they'd like to see the transaction be completed by the end of 2016.
You can read the full release here.
According to the Associated Press, AMC Entertainment, the movie theater chain bought by Chinese conglomerate Dalian Wanda Group in 2012, is acquiring rival chain Carmike Cinemas for $1.1 billion including debt.
In total, AMC and Carmike would have more 600 theater locations in 45 states across the country, including Washington, DC.
AMC has 5,426 screens in the U.S. and the most productive theaters in the country's top markets. Carmike, America's hometown theater circuit, has 2,954 screens, in "primarily located in mid-size, non-urban communities."
Copyright 2016 WTVM. All rights reserved.