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Carmike Cinema Group Acquires Rave Cinemas

The acquisition was announced Monday. The transition will take place before the end of the year.

Carmike Cinemas just extended its reach. 

According to a recent press release, Rave Cinemas was acquired by the Carmike Cinema family of theaters late Monday morning. 

The acquisition was part of a larger purchase agreement that included 16 theaters in seven states. The release states the Carmike Theater company paid $19 million in cash and assumed $100.4 million in lease obligations as part of the agreement. 

"The addition of these 16 state-of-the-art theatres and 251 screens from Rave is a key, opportunistic development," said Carmike Cinema president and CEO David Passman. "We also look forward to enthusiastically welcoming the Rave associates at these theatres to the growing Carmike family."

According to recent articles, Carmike shows special features similar to the Rave theaters, with classic movies, operas and sporting events rounding out the usual movie fare in theaters nationwide.

In August, Carmike made news when a bomb threat was called in to several Carmike Cinemas throughout the country. 

The full agreement includes the following theaters: 

 

 

 

State

 

 

Market

 

 

Theatre

AL Birmingham Lee Branch 15 AL Birmingham Patton Creek 15* AL Birmingham Vestavia Hills 10 AL Daphne Jubilee Square 12 AL Huntsville Valley Bend 18* AL Orange Beach Wharf 15 FL Melbourne Avenue 16 FL Pensacola Bayou 15* FL Pensacola Pensacola 18 FL Port St. Lucie Port St. Lucie 14 IN Fort Wayne Jefferson Point 18* IN Indianapolis Metropolis 18 IL Peoria Grand Prairie 18* PA Allentown (CV) Promenade 16* TN Chattanooga East Ridge 18* TX Houston Yorktown 15

* Denotes theatre with an IMAX auditorium

 

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