AMC Entertainment has finally sealed a deal to buy Loews Cineplex Entertainment. The acquisition of Loews, the third-largest movie chain in the USA, could push AMC from its current second-place spot closer to Regal Entertainment Group, which now holds the leadership position.
The combined company will offer audiences 5,900 screens across 30 states and 13 countries, AMC and Loews said in a joint statement. Regal has 6,273 screens in 558 theatres, according to company filings.
“This merger is a combination of the oldest and most respected names in the business,” said Peter C. Brown, AMC’s chairman, chief executive and president. Merger talks between the two companies have been ongoing for nearly a year. Terms of the deal were not disclosed.
The combined company will operate from Kansas City as AMC Entertainment Inc., and Brown will retain his leadership roles at AMC, according to a release from the company.
An avid promotional marketer, Loews has won visibility in recent years for such campaigns as Reel Moms, which provides special showings that encourage moms to bring their babies to the movies, as well as in-theatre tie-ins with specific film properties.
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