National Amusements theater auction sparks interest
Despite the economy and the state of moviegoing, a sale of some National Amusements locations has generated quite a few queries.
Sumner Redstone’s National Amusements has received interest from strategic rivals and private equity firms for its U.S. and U.K. theater chains, two sources with knowledge of the auction said.
Sales books started going out in early March to nearly 60 parties for the U.S. theaters and to about 20 for the U.K. screens, the sources said. They spoke on condition of anonymity because the details of the sale have not been made public.
Two separate auctions, likely to help National Amusements pay about half its looming debt obligations, include 54 theaters in the United States and 21 screens in the United Kingdom.
Read the full story at Reuters.