Theater chain on the brain
The upcoming sale of National Amusements certainly seems to provide a unique perspective on the current state of the exhibition industry.
The sale of the National Amusements circuit, the first major movie theater chain to come on the market in years, will test the depths of goodwill for an exhib biz whose stellar perf during a severe economic slump has given it newfound status.
National Amusements, owned by Sumner Redstone’s holding company and run by his daughter Shari Redstone, is the nation’s sixth-largest chain with well over 1,000 screens in the U.S. and Canada plus theaters in Latin America, Russia and the U.K. NAI is offering to sell its U.S. and U.K. businesses separately but wants to hold onto 17 locations in the Northeast, where it’s headquartered.
Read the full story in Variety.