Regal purchases Consolidated Theaters

Company inks $210 million deal for cinema chain

By PAMELA MCCLINTOCK

More Articles:

Daly helps Albee celebrate honors

Stars going to 'War'

Duo set for 'Vita and Virginia'

Tokyo Intl. Anime Fair kicks off

Funny Balloons flies with 'Tahoe'

The biggest loser(s)? (Everybody)

Regal Entertainment has inked a $210 million deal to buy circuit Consolidated Theaters in a pact that will increase Regal's stable by 28 theaters and enhance its footprint in Georgia, Maryland, the Carolinas, Tennessee and Virginia.

The largest theater chain in the U.S., Regal operates 526 locations in 39 states and the District of Columbia. That translates into 6,355 screens.

Circuit is comprised of Regal Cinemas, United Artists and Edwards Theaters.

The 28 Consolidated theaters provide 400 screens.

Regal Entertainment chair-CEO Mike Campbell said he expects the deal to be closed by the end of the first quarter. He said the proposed acquisition will improve accretive cash flow and earnings.

Deal is subject to customary closing conditions.