The owner of film theaters throughout the Des Moines metro area and the US has been sold in a $1.1 billion deal announced Friday.
Carmike Cinemas owns Wynnsong 16 in Johnston, Cobblestone 9 in Urbandale, Southridge 12 in Des Moines, Wynnsong 12 in Cedar Rapids, and Southern Hills 12 in Sioux city. AMC already owns theaters in Iowa in Council Bluffs and Dubuque.
The circulate will create the biggest chain of movie theaters within the us of a and the world.
After the purchase, the business would have smartly over 600 theater areas in 45 states throughout the country -- greater than eight,000 film screens.
AMC entertainment, the movie show chain purchased by way of chinese language conglomerate Dalian Wanda group in 2012, is acquiring rival chain Carmike Cinemas for $1.1 billion together with debt.
The acquisition will make the mixed entity the biggest theater chain in North the us and the area, and alerts Wanda's extra growth into amusement. It comes simply two months after Wanda stated it could spend $3.5 billion to acquire mid-stage studio Legendary entertainment, the co-financier of blockbusters like "Jurassic World" and "The dark Knight."
AMC will pay $30 a share, about 19 percent larger than the $25.11 Carmike shares closed at on Thursday.
Wanda is additionally at the back of a multibillion-dollar studio complicated being in-built eastern China that turned into used to shoot the upcoming film, "The terrific Wall."
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