[Southsider2k12]

http://abcnews.go.com/Business/wireStory?id=9611067

Kerasotes Plans Sale of Theaters to AMC
Kerasotes Showplace Theatres to be sold to AMC Entertainment
CHICAGO January 20, 2010 (AP)

The nation's sixth-largest movie house chain, Kerasotes Showplace Theatres, says it has reached agreement to sell most of its 96 theaters to AMC Entertainment Inc. of Kansas City.

The companies indicated Tuesday they expect to complete the sale this summer.

Kerasotes, which began with a single nickelodeon in Springfield, Ill., in 1909, now has theaters in Illinois, Indiana, Iowa, Missouri, Wisconsin, Ohio, Minnesota, Colorado, California, and New Jersey for a total of 957 screens.

Kerasotes CEO Tony Kerasotes said Tuesday he and brother, Dean, would continue to own and operate new ICON concept theaters in Chicago and Minneapolis, as well as one theater in Secaucus, N.J.

AMC, the nation's second-largest theater chain, has more than 305 theaters and 4,574 screens in five countries.

Terms of the deal, which is subject to regulatory review, were not revealed.

Copyright 2010 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

[Southsider2k12]

http://www.tradingmarkets.com/news/stock-a...lvi-956902.html

AMC completes purchase of Kerasotes theaters: Company takes over theaters in Schererville, Merrillville, Hobart, Michigan City
Posted on: Tue, 01 Jun 2010 06:40:21 EDT

Symbols: AC

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Jun 01, 2010 (The Times - McClatchy-Tribune Information Services via COMTEX) --

AMC Entertainment
Inc. said it completed a deal May 25 to acquire nearly all of the assets of Kerasotes ShowPlace Theatres LLC.

The deal helps AMC retain its position as the country's second-largest movie theater chain and gives the company a total of 380 theaters with 5,325 screens.

Chicago-based Kerasotes will retain ownership of continue to own and operate ICON concept theaters in Chicago's South Loop and Minneapolis, as well as one theater in Secaucus, N.J. Kerasotes owned 95 theaters and 972 screens.

AMC will retain ownership of and operate the five Kerasotes' movie theaters that are in Schererville, Merrillville, Hobart and Michigan City. AMC previously did not operate any theaters in Northwest Indiana.

In order for the deal to clear regulatory hurdles, the U.S. Department of Justice required AMC to divest eight theaters from its portfolio in the areas of Chicago, Denver and Indianapolis. For the next 10 years, AMC must inform the department's Antitrust Division if it seeks to acquire movie theaters in those markets. The Department of Justice said the acquisition was worth about $275 million.

In 2009, AMC generated about $2.26 billion of revenue in the United States
and Kerasotes had about $327.7 million of revenue domestically, the Justice Department said.

AMC also is not signing up new members of Kerasotes' popular program for moviegoers called the Five Buck Club. For a limited time, current members will still be able to participate in the program at the theaters in Schererville, Hobart and Michigan City.

The company said on its website it "will be evaluating our value-pricing options for the newly acquired theaters in the very near future."

[Southsider2k12]

So the merger isn't paying off for local patrons. AMC has raised the prices for all of the concessions big time. It is now $19 for two large drinks and a large popcorn. They also are charging for a two year old to get into the theater, where it used to be under 3 was free.

I think I am officially a Redbox person now.

[taxthedeer]

So the merger isn't paying off for local patrons. AMC has raised the prices for all of the concessions big time. It is now $19 for two large drinks and a large popcorn. They also are charging for a two year old to get into the theater, where it used to be under 3 was free.

I think I am officially a Redbox person now.

A really fun alternative to the theater for a fairly inexpensive family night out would be to take a short drive to the 49er Drive-In on Calumet Ave. just north of Valpo. They show a double feature nightly beginning at 8:30 and admission is $8.00 for those 12 and up and only $4.00 11 & under (cash only). Best of all is you can either choose their to eat at their snack bar or bring in your own food and beverages. I guess there are not that many drive-in movie theaters left in operation throughout the country and the 49er is the sole remaining one in our immediate area.

The have a website: www.49erdrivein.com

We went there last night and watched Toy Story 3 and Grown-Ups and the place was packed. One neat thing they did before the start of the movie was they played the song Beep Beep (Little Nash Rambler) by the Playmates and everyone in the lot blew their horns to the song. They also played the National Anthem and showed a short cartoon before the show. There was also activities for the youngsters in front of the big screen at twilight while the crowd waited for everything to get under way.

A couple suggestions: DO NOT park in the southern part of the complex, park somewhere in the lot north of the snack bar or in the middle (you'll have to get their early and line up in order to get a prime spot in front of the screen). I guess the place has a serious issue with it's septic system and gives off a pretty strong odor, not only that but at the conclusion of Toy Story 3 a group of Hispanics a couple cars down from us decided that it would be enjoyable to smoke some marijuana. So between the sewer smell and the pot stench we couldn't stand it anymore so during intermission between the two movies we had to move into a different location in the complex. Also, some form of insect repellent would also be a good idea to bring along those mosquitoes nearly made a snack out of all of us.

[eric.hanke]

So the merger isn't paying off for local patrons. AMC has raised the prices for all of the concessions big time. It is now $19 for two large drinks and a large popcorn. They also are charging for a two year old to get into the theater, where it used to be under 3 was free.

I think I am officially a Redbox person now.

The Hanke family is right there with you. I was flabbergasted at the concession prices. We took the kids to see The Last Airbender last weekend and discovered the new prices. Apparently the new concession prices when into effect at the Eclipse opening.

Finding a seat was not an issue.