Regal Buys Hollywood Theaters for $191M
The deal includes 43 theaters with 513 screens
Movie theater owner Regal Entertainment Group (NYSE: RGC) will buy Hollywood Theaters for about $191 million in cash.
The deal also includes $47 million in assumed lease obligations, on top of the cash price. The cash part of the purchase price will pay $157 million of Hollywood Theaters’ debt.
Regal is buying 43 theaters with 513 screens in 16 states. The deal is expected to increase the company’s cash flow and profits.
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