Greenwood and Venues and Arts & Entertainment, etc. and Theater and Movie theaters and Johnson County and Visual Arts and Regional News and Movies

AMC sells Greenwood theater to Regal Entertainment

May 25, 2010

Regal Entertainment Group has acquired Greenwood Park 14 in Indiana from AMC Entertainment Holdings Inc. along with eight other movie theaters in Illinois and Colorado.

Financial terms of the sale were not disclosed, but Knoxville, Tenn.-based Regal swapped cash and two theaters in exchange for the AMC properties.

AMC was ordered by the U.S. Justice Department to divest the properties in order to proceed with its $275 million deal to buy 93 theaters operated by Chicago-based Kerasotes Showplace Theatres.

Kansas City-based AMC , the second-largest U.S. movie theater owner, still must divest AMC Castleton Square 14 or Kerasotes Showplace 12 Glendale Town on the north side of Indianapolis to comply with Justice Department requirements.

Regal is the largest motion picture exhibitor in the world, with more than 6,700 screens in 38 states operating under the names of Regal Cinemas, United Artists Theatres and Edwards Theatres. The company already has six theaters in Indiana, including five in the Indianapolis area.

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