With 2,049 cinema screens across Europe and Israel, Cineworld is bidding $3.6 billion for Regal entertainment's 7,315 US screens.
British-based movie theater operator Cineworld Group plc (LSE: CINE) has confirmed that it is in talks to buy US movie theater chain Regal Entertainment Group. The companies said that any deal would be for an estimated $3.6 billion in cash. Cineworld Group CEO Moshe Greidinger holds a 25% stake in the company. Greidinger's grandfather opened the first cinema in Israel in Haifa in 1929. Today, Cineworld Group has 2,049 cinema screens across Europe and controls 34% of Israel's movie theater market through the Yes Planet and Rav Hen cinema chains.
Regal Entertainment owns 561 theaters with 7,315 screens across the US.
Published by Globes [online], Israel business news - www.globes-online.com - on November 29, 2017
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YES Planet Jerusalem
Tali Tsipori and Globes' correspondent