Chinese owned AMC Entertainment has been given the greenlight by the U.S. Department of Justice (DOJ) to complete plans to purchase Carmike Cinemas for $1.2-billion. Carmike has one theatre in Murfreesboro and is constructing a second.
The complex DOJ deal includes the Wynnsong Cinema, off Cason Lane here in Murfreesboro. The name will be changed to AMC Murfreesboro 15.
Stones River Mall Theatre
As you recall, last summer Carmike executives signed a 15-year lease on space for an upscale theatre in the Stones River Mall. To create the space, Books-A-Million relocated. The mall's food court was also a part of the arrangement.
Under the massive purchase agreement, AMC has 60 days after the deal is approved to decide if any theaters are to be closed. Word is that as many as 20 theaters might be considered.
AMC was purchased by the Dalian Wanda Group for $2.6-billion in 2012. Prior to the Carmike acquisition, they were already the largest theater group in the world with more than 10,000 screens. Last year (2016), the conglomerate also purchased Legendary Entertainment for $3.5-billion and Dick Clark Entertainment for $1-billion. Wanda is operated by Chinese billionaire Wang Jianlin.
At the same time the AMC-Carmike deal is wrapping-up, plans continue for new local owners to construct another major multi-screen theatre as well as renovate Premiere 6 Theatre in Jackson Heights Shopping Center.
