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Feds: AMC must sell some Indy theaters to make acquisition

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The U.S. Justice Department said AMC Entertainment Group Inc., the second-largest U.S. movie theater owner, must sell some cinemas, including two in central Indiana, to proceed with plans to buy most of those operated by Kerasotes Showplace Theatres.

AMC must divest a total of eight properties in the Indianapolis area, Chicago and Denver to proceed with the $275 million acquisition, the department said Friday in an e-mailed statement. This would resolve concerns about competition in those cities, according to the statement.

Kerasotes has four theaters in the Indianapolis area; AMC has two.

Under terms of an sale agreement, AMC must divest AMC Castleton Square 14 or Kerasotes Showplace 12 Glendale Town on the north side of Indianapolis and AMC Greenwood 14.

Buying all except three of Kerasotes’s 96 theaters will increase AMC’s presence in the Midwest, the companies said when announcing the agreement in January. Both Kansas City, Missouri- based AMC and Chicago-based Kerasotes are closely held.

Kerasotes, the No. 6 movie chain, plans to keep theaters in Minneapolis, Chicago and Secaucus, N.J., the companies said.

AMC has more than 305 theaters and 4,574 screens in five countries.

 

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  • Glendale should stay
    This is terrible. I don't see how seeling properties would help competition. These properties won't sell, they'll just sit empty. A terrible blow for either Glendale or Castleton.
  • Kepp the free popcorn refills
    If AMC kills the free (any size) popcorn and drink refills, I might as well go to any other screen in town. That is the big draw for me when it comes to picking a screen to see a movie.
  • Interesting
    Ok, if they divest - who is buying? Moreover, this could be a big blow to Glendale / Kite. We will see...
  • I hope for a better sound system
    If AMC buys the local Kerasotes, I hope they go in and work on their sound systems. I hardly ever go to a Kerasotes theater because the sound is so very loud and uncomfortable to the ears.

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  1. If a television station wants to improve viewership, get rid of the local blackout. I was born by the brickyard, and have attended 15 or more races. I have children now, I won't attend unless circumstances are perfect. As those with growing families know, they never are. I'm always impressed that upwards of 250,000 people attend the 500. However, as a growing, or, more apt, sprawling city, Indianapolis and its immediate suburbs count almost 2.2 million. Show the race live, let the venue get a kick-back on revenues, and open-wheel racing might have a fighting chance to be relevant again. Just in time for those tax-payer lights to make sense.

  2. John Moore, I too have had the same issue recently. A property next to my house was on the Land Bank and I was interested in purchasing. When I tried to contact Reggie, I got back emails that had nothing to do with what I asked about. Actually my latest response from him was on this past Friday. I had asked about how to buy the property and if it was still available. His response to me was to contact the mayor's office to get the schedule of his appearances. (???) Hopefully the city is able to do something to fix what this guy has done, it would be nice if they would take the properties back and sell them properly so land owners like me and you mother would have a fair chance.

  3. I too work in the industry, with over 25 years of experience and your political spin has probably nothing to do with any rebranding. "Let's dress it up" would have nothing to do with the government "telling us how and what to eat." Give it a political rest. And being a producer for a radio show doesn't mean you've been involved in advertising and branding for 30 years.

  4. Ms. Morris did not understand the ways of the business world, otherwise, like the IMS, she could have petitioned the State Legislature for a handout of State Funds for her charity work. Ms. Morris should consider becoming a state lobbyist for Lemonade Stand Operators.

  5. David Copperfield!

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