Carmike Acquires 147 Screens from Muvico Entertainment

on November 04, 2013

Source: Deadline

Carmike Cinemas announced today that it will purchase nine theaters from Muvico Entertainment in exchange for $31.8 million. The move positions Carmike to gain 147 screens across California, Florida, and Illinois. CEO David Passman emphasized that few upgrades or maintenance costs are expected due to the theaters' pre-existing installations of digital projection, large screen formats, and other amenities.

As part of the deal with Movico, Carmike will also take over Bogart's Bar & Grill restaurants in California and Illinois.

Tags: Carmike Cinemas, muvico entertainment

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