Pursuits
AMC's $1.1 Billion Carmike Deal Makes China Movie Powerhouse
- $30-a-share deal values No. 4 U.S. exhibitor at $1.1 billion
- Merger creates world's biggest movie circuit, companies say
AMC Buys Carmike For $1.1 B in All-Cash Deal
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AMC Entertainment Holdings Inc., controlled by China’s richest man, agreed to buy Carmike Cinemas Inc. in a $1.1 billion all-cash deal that would create the world’s largest cinema chain and extend Chinese influence in the movie industry.
AMC, majority owned by billionaire Wang Jianlin’s Dalian Wanda Group Co., will pay $30 a share for Carmike, a 19 percent premium over its closing stock price Thursday, according to a statement from the companies. The agreement combines the second- and fourth-biggest U.S. movie theater chains and vaults the resulting entity past Regal Entertainment Group.