Tag Archives: National CineMedia

Regal’s Amy Miles named to Norfolk Southern board

Amy Miles, CEO of Regal Entertainment Group

Amy Miles, CEO of Regal Entertainment Group

Knoxville businesswoman Amy Miles, CEO of movie theater operator Regal Entertainment Group, is taking her business acumen to Norfolk Southern railroad.
Miles was one of two directors elected to the Norfolk Southern Corp. board effective Tuesday, the railroad  announced.
Miles, who has been CEO of Knoxville-based Regal since 2009, was appointed to the Norfolk Southern board’s audit and finance committees.
Like many executives, Miles serves on a number of corporate and nonprofit boards, including National CineMedia Inc., a digital in-theater media network, co-owned by Regal; the Regal Foundation, and Variety of Eastern Tennessee, a children’s charity.
She also is an executive board member of the National Association of Theater Owners.
Also elected to the Norfolk Southern board was James A. Squires, who was appointed president of Norfolk Southern last year.
Miles could not immediately be reached for comment on the railroad appointment.
Naming a movie theater executive to a railroad board may seem a stretch, but Norfolk Southern has a major presence in Knoxville.
Last year it opened a $5.9 million rail/truck transfer terminal on Tennessee Avenue giving companies that lack direct rail connections a way to access rail.
Knoxville also sits along the Crescent Corridor, Norfolk Southern’s 2,500-mile intermodal network that stretches from Louisiana to New York.
Regal is the largest movie theater operator in the country with 580 theaters in 42 states, the District of Columbia and Guam, Saipan, American Samoa.

AMC challenges Regal Entertainment with $400M IPO

EARNS+REGAL+ENTERTAINMENT

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.

Does Chinese deal drop Regal Entertainment to No. 2?

twilight_atb_12.jpgKnoxville-based Regal Entertainment Group Inc. has been the dominate movie theater operator in
 North America for years, but that could be about to change.

Dalian Wanda Group Co., a Chinese conglomerate, announced over the weekend that it plans to buy AMC Entertainment, the second-largest theater owner in the U.S.

Wanda and AMC said their merger would create the largest theater company in the world, according to a news release.

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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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