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Kerasotes planning to sell theaters to AMC

 IBJ Staff and Associated Press
January 20, 2010
Keywords
Arts & Entertainment, etc., IMAX, Movies, Theater
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The nation's sixth-largest movie house chain, Kerasotes Showplace Theatres, says it has reached agreement to sell most of its 96 theaters to AMC Entertainment Inc. of Kansas City.

The companies indicated Tuesday they expect to complete the sale this summer.

Kerasotes, which began with a single nickelodeon in Springfield, Ill., in 1909, now has theaters in Illinois, Indiana, Iowa, Missouri, Wisconsin, Ohio, Minnesota, Colorado, California, and New Jersey for a total of 957 screens.

Kerasotes CEO Tony Kerasotes said Tuesday he and brother, Dean, would continue to own and operate new ICON concept theaters in Chicago and Minneapolis, as well as one theater in Secaucus, N.J.

AMC, the nation's second-largest theater chain, has more than 305 theaters and 4,574 screens in five countries.

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

Terms of the deal, which is subject to regulatory review, were not revealed.

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  • What???
    LunaMarch 29, 2010 2:44 PM
    No this is really bad. I have been to MANY theatres in search of good popcorn and butter and I have NOT found another like Kerasotes. Not to mention the $5 buck club is the only reason I can go with my family to see a movie in these times.
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  • I'm depressed
    BevFebruary 5, 2010 11:41 AM
    Kerasotes is my favorite theatre. I love the early morning weekend discount and the $5 club. AMC offers very little with their club card. I really hate to see this happen. Looks like my loyalty may switch to Regal!
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  • Drats!
    DaveJanuary 27, 2010 12:42 PM
    Yes indeed - AMC blows! Kerasotes is the Escalade and AMC is the Chevy. Yes the $5 Club is (was?) nice!
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  • FYI
    CoryJanuary 22, 2010 4:31 PM
    Indy based Duke Realty's construction division built the new ICON concept theater mentioned above in Minneapolis.
    Reply to CommentFlag Comment
  • Stop the merger madness
    Firewoman1220January 20, 2010 4:11 PM
    First my fave candy, Cadbury sold to Hershey and now my fave movie theatre to AMC. I hate all this merging. Kent - the $5 Club is awesome! I wonder how long it will take AMC to discontinue that program?
    Reply to CommentFlag Comment
  • Bummer
    KentJanuary 20, 2010 1:11 PM
    This is really too bad. We've enjoyed this chain. Kerasotes has the awesome $5 club and the concession stand is the best in the industry. AMC blows.
    Reply to CommentFlag Comment

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