AMC has announced plans to acquire Carmike Cinemas for a reported $737 million in cash. Under the terms of the deal, AMC will offer $30 a share, an increase of 19 percent over Carmike’s closing price on Thursday. AMC would also Carmike’s debt, making the transaction worth about $1.1 billion. If approved, the deal would give AMC more than 600 theatres, making it the largest theatre chain in the country.
Carmike Cinemas today reported results for the three and twelve-month periods ended December 31, 2015 and noted continued growth. “Carmike’s record fourth quarter and 2015 full year financial results reflect the ongoing success of our theatre-level initiatives, the progress we are achieving with our value-building theatre acquisition and organic growth strategies and the overall strength of the U.S. box office. Our admissions revenue growth per screen of over 15 percent in the 2015 fourth quarter and 9 percent for the full year outpaced the industry by almost 500 and 200 basis points, respectively. We achieved record results across several key financial metrics, including a 19 percent rise in operating revenues to an all-time quarterly record, as well as a rise in operating income of over 100 percent, which drove increases in adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) and theatre level cash flow of approximately 61 percent and 51 percent, respectively,” said David Passman, Carmike Cinemas’ president and chief executive officer.
On the occasion of the 66th Berlin International Film Festival the European Audiovisual Observatory has released its first estimates for European cinema attendance in 2015. The Observatory estimates that total admissions in the European Union increased by 7.6 percent to 980 million tickets sold, 69 million more than in 2014. This is the second highest level registered in the EU in the past ten years. Only in 2009 did cinemas in the EU sell more tickets boosted by Avatar and the novelty factor of 3D.
Ymagis today reported its consolidated revenue figures for the fourth quarter of 2015. For the quarter, the group’s revenue amounted to €51.6 million, an increase of 20.7 percent compared to the fourth quarter of 2014. For the 2015 fiscal year, the company generated cumulated revenue of €157.7 million, an increase of 86.4 percent over the prior year period on a reported basis, and an increase of 4.8 percent over the 2014 fiscal year pro forma.
Ymagis Group has acquired Berlin-based Cine-Logistics, one of Germany’s leading distribution services for movie distribution companies and German-speaking cinema exhibitors. Under the terms of the agreement, Ymagis SA, through its wholly owned subsidiary Ymagis Deutschland becomes the sole shareholder in Cine-Logistics.
Distributor and digital integrator Bardan Cinema has expanded its exclusive master distribution agreement with Philips Lightning to supply its digital cinema product lines throughout Latin America and the Caribbean.
Carmike Cinemas has acquired two movie theatres from an AMC Entertainment subsidiary for a total of $5.4 million in cash. The transactions simultaneously closed upon signing of the purchase agreements.
Ymagis Group and Figueras International Seating have reached a non-exclusive distribution agreement for Figueras’ seating for cinema exhibitors. The deal recognizes Ymagis Group/dcinex as a non-exclusive distributor in countries in which the former operates – Europe, the Middle East & Africa.
WCP Media Services has engaged Cameron Thomson Group as its global commercial development partner. Under the arrangement, Cameron Thomson will assist WCP Media Services in expanding the company’s flagship content management solution across the global media marketplace. Cameron Thomson Group’s president Ronald Thomson will take an active role in WCP Media Services as managing director of Global Business, in conjunction with his worldwide team.
Independent cinema operator Broadway Kino has signed Germany’s first Managed Services customer agreement with Sony Digital Cinema 4K. Under the terms of the deal, Broadway Kino replaced older DLP Series 1 projectors at two of its six screens with new Sony SRX-R515DS 4K dual projection systems.