Cineworld and Cinemark Announce Agreement to Purchase Remaining Units of National CineMedia Held by AMC
Cinemark Holdings Inc Cinemark Holdings, Inc. (CNK)
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Source: Business Wire
LONDON & PLANO, Texas--(BUSINESS WIRE)-- Cineworld Group, plc (LSE: CINE) and Cinemark Holdings, Inc. (NYSE: CNK) announced today an agreement to acquire the remaining units of National CineMedia, LLC currently owned by AMC Entertainment Holdings, Inc. (NYSE: AMC). The transaction will be financially accretive to each of Cineworld and Cinemark and represents an on-going confidence in the long-term opportunity associated with the cinema advertising business model. The purchase price for the 21.5 million remaining units is approximately $156.8M, representing a price of $7.30 per unit. Cineworld and Cinemark will each acquire half of the units and will fund the transaction with available cash. This transaction fulfills AMC’s requirement to sell its interest in NCM under the consent decree with the U.S. Department of Justice in connection with AMC’s acquisition of Carmike Cinemas, Inc. in December
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CNK
Earnings
- 2/16/24 - In-Line
CNK
Sec Filings
- 4/9/24 - Form DEFA14A
- 4/2/24 - Form ARS
- 4/2/24 - Form DEFA14A
- CNK's page on the SEC website