Regal, Cineworld in $3.6B merger deal
Dec. 5, 2017 at 11:55 p.m.
Regal Entertainment Group, the second-largest theater chain in the U.S., has agreed to be acquired by British exhibitor Cineworld Group in a deal valuing Regal at $3.6 billion, the company said Tuesday.
Cineworld, Britain's biggest cinema operator, would pay $23 a share for Regal, which runs 561 theater locations, including in Longview. If the deal closes, it would turn Cineworld into the world's No. 2 exhibitor, instantly putting it in direct competition with industry giant AMC Entertainment.
Cineworld, headquartered in London, operates 232 theaters in Britain, Ireland and other countries. Buying Regal would instantly give it huge access to the world's largest movie market, noted Eric Handler, an analyst at MKM Partners.