Remove ads with our VIP Service
- Digiplex Surprise IMAX
- Digiplex Apple Valley
Apple Valley, CA
- Digiplex River Village
- Digiplex Mission Marketplace
- Digiplex Poway
- Digiplex Temecula Tower Cinemas
- Digiplex Bloomfield
- Digiplex Lisbon 12
- Digiplex CINEROM Torrington
- Digiplex Churchville
Bel Air, MD
- Digiplex Cranford
- Digiplex Sparta Theatre
- Digiplex Rialto Westfield
- Digiplex Solon Cinema 16
- Digiplex Cinema Center - Bloomsburg
- Digiplex Cinema Center - Camp Hill
Camp Hill, PA
- Digiplex Mechanicsburg
- Digiplex Cinema Center - Fairgrounds Square
- Digiplex Cinema Center - Selinsgrove
- Digiplex Cinema Center - Williamsport
Add Your Comments
- Indiana, PA: Indiana Mall Cinema Closes, Changes Hands from Carmike to Golden Star Theaters - Set to Open June 12th [5/19]
- Tucson, AZ: Cinemark Announces Plan for 14-Screen Movie Theater at Tucson Marketplace at the Bridges [5/18]
- Tulsa, OK: Cinemark Movies 8 Closed [5/15]
- Pittsburgh, PA: Rave Cinemas Pittsburgh North 11 Closing Tonight [5/14]
- Cinemark Announces 2015 "Summer Movie Clubhouse" Series of Kid-Friendly Movies [5/14]
- Cheektowaga, NY: Movieland 8 Theatre Closed [5/12]
- San Angelo, TX: Icon Cinema Opening in 2015 in Former K-Mart Space [5/11]
- Albuquerque, NM: Icon Cinema to Open Soon in Four Hills Village Shopping Center [5/11]
- Roseville, MI: Silver Cinemas - Macomb Mall Closed [5/8]
- Oxon Hill, MD: AMC Reopens the Former Rivertowne 12 Cinemas [5/5]
Carmike Cinemas Inc. and Digital Cinema Destinations Corp. (Digiplex) announced last week that Carmike will be acquiring Digiplex in a stock-for-stock deal.
Founded in 2010, Digiplex has 20 locations in seven states around the country, which will bring Carmike up to 280 locations in 41 states. The press release mentions that Digiplex consists of 21 locations, but only 20 are listed on their web site and that list matches the 20 we have in our records. We presume that the "missing" location is the Lansing Cinema 8 Lansing, Illinois, which Digiplex announced in April that it will be acquiring the theater. Each Digiplex share will be traded for 0.1777 shares (give or take) of Carmike stock.
The obligatory quotes from the heads of each company appear below:
Carmike’s President and Chief Executive Officer David Passman stated, “Carmike strives to be an innovator in the exhibition industry, and we believe the addition of the Digiplex circuit will further enhance those efforts. Since its founding less than 4 years ago, Digiplex has been building a circuit of quality theatres based in leading markets. The circuit is a very complementary fit to Carmike and the acquisition enables us to add 4 new states: Arizona, Connecticut, Maryland and New Hampshire, to our expanding geographic footprint.
“Along with its circuit expansion via opportunistic acquisitions, Digiplex has built an industry leading alternative programming business, generating approximately 5% of admissions revenue, a significantly higher percentage than their larger peers. This transaction allows us to combine resources as we grow together, and we could not be more pleased to welcome Digiplex to our expanding theatre network.”
Digiplex Chairman, Chief Executive Officer and Founder Bud Mayo commented, “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. David Passman, his fellow senior executives and their customer-centric, theatre-level teams have together orchestrated a fantastic, multi-year turnaround – both operationally and financially.”
The press release does not mention a timeframe for the culmination of the deal, but such transactions must clear regulatory and other approvals before they are finalized. If you have Digiplex gift cards, or are thinking of buying some, keep an eye on announcements for how the transition will happen so that you have a chance to redeem them before it's too late.
Source: Carmike/Digiplex Press Release
Add Your Comments
No comments found. Be the first and let us know what you think!
Add Your Comments
|Commenting on Journal Articles is available only to our readers who have customized this site, which makes it easier for you to complete the form and for us to contact you with any questions or concerns about your comments.|
Please login or register a new account before continuing.
Log in to retrieve your saved settings.
Forget Your Passcode?Send My Passcode To Me
Not Registered? Create a New Account!
Our registered members enjoy more features, including:
- Save Your Location -- the site remembers your location, no having to re-enter it each time you visit
- Favorite Theaters List -- keep a handy list of the theaters you attend
- Favorite Movies List - movies you want to see, all in one place
- Write Movie Reviews -- share your opinions of the movies you see
- Block Ads with VIP Service -- view this site ad free (subscription req'd)
Basic accounts are free -- sign up today!
Concerned About Privacy?
Journal/Blog - The Marquee - Movie Links - News and Events - Now Showing - Reader Reviews
Customize - VIP Service
|The BigScreen Cinema Guide is a service of SVJ Designs LLC. All graphics, layout, and structure of this service (unless otherwise specified) are Copyright © 1995-2015, SVJ Designs. The BigScreen Cinema Guide is a trademark of SVJ Designs. All rights reserved.|
'ACADEMY AWARDS®' and 'OSCAR®' are the registered trademarks and service marks of the Academy of Motion Picture Arts and Sciences.