Kinepolis Acquires 13 U.S. Showcase Cinemas From Redstone Family's National Amusements For $30 Million
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Jill Goldsmith
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· 2 sourcesBelgian theater operator Kinepolis has agreed to acquire 13 Showcase Cinemas in the U.S. from Harbor Lights Entertainment for $30 million, Deadline reported. The deal, which covers cinemas across Massachusetts, New York, Ohio, and Rhode Island, is expected to close by the end of summer, according to Variety. The theaters were part of the Redstone family's media empire and feature premium large format screens and stadium-style recliner seating, Deadline noted.
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Summary
Belgian theater operator Kinepolis has agreed to acquire 13 Showcase Cinemas in the U.S. from Harbor Lights Entertainment (formerly National Amusements Inc.) for $30 million. The theaters, which were part of the Redstone family's media empire alongside Paramount, feature premium large format screens and stadium-style recliner seating. The deal marks a significant move by a European theater chain into the U.S. market.
Key quotes
· 3 pulledBelgian-based Kinepolis, a top European theater operator, agreed to acquire 13 Showcase Cinemas in the U.S. from Harbor Lights Entertainment (formerly National Amusements Inc.) in a deal worth $30 million.
National Amusements was the start of the Redstone family media empire, launched by Sumner Redstone's father as a single Rhode Island drive in and later expanded and run for years very capably by Shari Redstone.
The theaters are upscale with multiple premium large format screens and most auditoriums stadium style with recliner seating.
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