News





Carmike Cinemas to acquire Digiplex locations

May 16, 2014

Carmike Cinemas is acquiring four-year-old Digital Cinema Destinations Corp., which operates theatres under the Digiplex brand.

The agreement is a stock-for-stock transaction in which Carmike will acquire 100% of Digiplex’s 7.93 million shares outstanding. Each Digiplex share will be exchanged for 0.1775 shares (subject to certain potential reductions) of Carmike common stock. Digiplex currently operates in 21 locations with 206 screens, and has agreements to acquire another five theatres with 53 screens.

Since its founding in 2010 by Bud Mayo, Digiplex has been transforming its movie theatres into interactive digital entertainment centers. Digiplex has been a pioneer in alternative programming and has a 50% interest in the DigiNext distribution platform. The transaction is expected to close during the third quarter of 2014 and will increase Carmike’s footprint to 280 theatres and 2,936 screens in 41 states.

Carmike president and CEO David Passman stated, “Carmike strives to be an innovator in the exhibition industry, and we believe the addition of the Digiplex circuit will further enhance those efforts… The circuit is a very complementary fit to Carmike and the acquisition enables us to add four new states: Arizona, Connecticut, Maryland and New Hampshire, to our expanding geographic footprint.”

Digiplex chairman, CEO and founder Bud Mayo commented, “We view this transaction as a complementary win-win for both organizations. Digiplex holders will benefit by receiving stock in one of the industry-leading exhibitors. David Passman, his fellow senior executives and their customer-centric, theatre-level teams have together orchestrated a fantastic, multi-year turnaround—both operationally and financially.”

All of the acquired theatres in Digiplex’s current circuit feature digital projection systems. Over 35% of the screens are 3D-capable.


Carmike Cinemas to acquire Digiplex locations

May 16, 2014

Carmike Cinemas is acquiring four-year-old Digital Cinema Destinations Corp., which operates theatres under the Digiplex brand.

The agreement is a stock-for-stock transaction in which Carmike will acquire 100% of Digiplex’s 7.93 million shares outstanding. Each Digiplex share will be exchanged for 0.1775 shares (subject to certain potential reductions) of Carmike common stock. Digiplex currently operates in 21 locations with 206 screens, and has agreements to acquire another five theatres with 53 screens.

Since its founding in 2010 by Bud Mayo, Digiplex has been transforming its movie theatres into interactive digital entertainment centers. Digiplex has been a pioneer in alternative programming and has a 50% interest in the DigiNext distribution platform. The transaction is expected to close during the third quarter of 2014 and will increase Carmike’s footprint to 280 theatres and 2,936 screens in 41 states.

Carmike president and CEO David Passman stated, “Carmike strives to be an innovator in the exhibition industry, and we believe the addition of the Digiplex circuit will further enhance those efforts… The circuit is a very complementary fit to Carmike and the acquisition enables us to add four new states: Arizona, Connecticut, Maryland and New Hampshire, to our expanding geographic footprint.”

Digiplex chairman, CEO and founder Bud Mayo commented, “We view this transaction as a complementary win-win for both organizations. Digiplex holders will benefit by receiving stock in one of the industry-leading exhibitors. David Passman, his fellow senior executives and their customer-centric, theatre-level teams have together orchestrated a fantastic, multi-year turnaround—both operationally and financially.”

All of the acquired theatres in Digiplex’s current circuit feature digital projection systems. Over 35% of the screens are 3D-capable.

More Cinemas

AMC Theatres hosts ninth Best Picture Showcase

For the ninth straight year, AMC Theatres is bringing all of this year’s Best Picture nominees to its locations More »

Cinemark schedules annual Oscar Movie Week

Cinemark’s annual Oscar Movie Week will take place Feb. 13-22 More »

Carmike Cinemas celebrates National Popcorn Weekend with discount promotions

Carmike Cinemas announced special weekend-long concessions promotions at all 273 of its complexes More »

Regal opens Three Rivers Mall 12 in Kelso, WA

Regal Entertainment Group celebrated the grand opening on Jan. 15 of Three Rivers Mall 12 & RPX in Kelso, Washington More »

ADVERTISEMENT



REVIEWS

The Wedding Ringer
Film Review: The Wedding Ringer

Intermittently amusing bro-comedy trifle that confirms Kevin Hart's talent, though not his taste in material. More »

Paddington
Film Review: Paddington

This feel-good, looks-great first-time big-screen adaptation of the beloved British children's stories about a stowaway Peruvian bear finding his, er, bearings in London is much more than just, oops, bearable. The handsome production greatly benefits from a top-notch cast of some of the U.K.’s finest actors and its beautiful blend of CGI-enriched live action and animated ursine star. More »

Player for the Film Journal International website.


ADVERTISEMENT



INDUSTRY GUIDES

» Blue Sheets
FJI's guide to upcoming movie releases, including films in production and development. Check back weekly for the latest additions.

» Distribution Guide
» Equipment Guide
» Exhibition Guide

ORDER A PRINT SUBSCRIPTION

Film Journal International

Subscribe to the monthly print edition of Film Journal International and get the full visual impact of this valuable resource for the cinema business.

» Click Here

SPONSORSHIP OPPORTUNITIES

Learn how to promote your company at the Film Expo Group events: ShowEast, CineEurope, and CineAsia.

» Click Here