News Column

BRIEF: Georgia Company Acquiring Theaters in Bloomfield, Lisbon, Torrington

May 16, 2014

The Hartford Courant



May 16--A Georgia company is acquiring movie theaters in Bloomfield, Lisbon and Torrington as part of a larger deal announced this week.

Carmike Cinemas, which owns 253 theaters in 37 states, has an agreement to acquire the current owner, Digiplex of New Jersey, the companies said in a joint statement.

Digiplex, founded in 2010, runs 21 theaters and has agreements to run five more, the statement said. The deal, expected to close in the third quarter of 2014, will give Carmike 280 theatres and 2,936 screens in 41 states.

Under the agreement -- a stock-for-stock transaction -- Camlike will acquire all of Digiplex's 7.93 million shares outstanding. The companies said each Digiplex share will be exchanged for 0.1775 shares of Carmike common stock.

Bud Mayo, chairman, CEO and founder of Digiplex, said in the statement: "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."

The three Connecticut theaters are Digiplex Bloomfield, Digiplex Lisbon 12, and Digiplex CINEROM Torrington.

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(c)2014 The Hartford Courant (Hartford, Conn.)

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Source: Hartford Courant (CT)


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