Tag Archives: movie theater

AMC challenges Regal Entertainment with $400M IPO

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A battle of  movie theater titans is starting to take shape.
AMC Entertainment, the second largest movie theater network in the country after Knoxville-based Regal Entertainment Group, recently announced plans for a $400 million initial public offering.
Proceeds from the IPO are earmarked for expansion and debt payments.
AMC hasn’t offered details of its growth plan, but Regal will undoubtedly be keeping a close eye on the Kansas-based company’s expansion.
AMC was bought last year by Chinese billionaire Wang Jianlin’s Dalian Wanda Group for $2.6 billion.
Wanda bills itself as the largest movie theater operator in the world.
While Wanda may be the world’s biggest, but Regal has a considerable lead over AMC when it comes to the U.S.
AMC currently operates 342 theaters with 4,941 screens in the U.S., according to its website. Regal has 7,340 screens in 576 theaters. Virtually all of Regal’s screens are in the U.S. mainland, although it also has theaters in Guam, Saipan and American Samoa.
Speaking of selling stock, Regal announced Tuesday a secondary offering of 2 million shares of National CineMedia. Regal is a founding member of National CineMedia, a digital in-theater network that offers advertising and special events.
Click here for Bloomberg’s take on AMC’s IPO.

Regal Entertainment plans new luxury theater

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Regal Entertainment Group is bringing a new level of “luxury
amenities” to the movie-going experience.

In Atlanta at least.

Every seat in a new theater that will open next year near
Atlanta  “will be a luxury recliner that
includes a footrest for added comfort and a convenient table area for dining,”
according to a news release.

Food offerings will “feature restaurant-quality food and
drink selections as well as traditional cinema snacks.”

But wait there’s more. Even the lobby will offer luxury
amenities, Knoxville-based Regal said.

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Strong box office turns tide for Regal Entertainment

 
twilight_atb_12.jpgWeak movie theater attendance has been a drag on Regal Entertainment Group profits in recent months, but that is changing in the opening weeks of 2012.

Two financial firms this week raised their ratings and price targets for the Knoxville-based theater operator’s stock, citing improved theater attendance and advertising.

Piper Jaffray upgraded its rating for both Regal and National CineMedia, an in-theater digital advertising venture co-owned by Regal, to overweight from neutral.

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