By Associated Press
Chicago, IL – KERASOTES SHOWPLACE THEATRES SAYS IT HAS REACHED AGREEMENT TO SELL
MOST OF ITS 96 THEATERS TO AMC ENTERTAINMENT OF KANSAS CITY.
KERASOTES OPERATES THEATERS IN TEN STATES INCLUDING ONES IN CARBONDALE, MARION, HARRISBURG, BENTON, MT VERNON, CENTRALIA, AND MATTOON. CEO TONY KERASOTES SAYS THE FAMILY WILL CONTINUE TO OWN AND OPERATE NEW ICON CONCEPT THEATERS IN CHICAGO AND MINNEAPOLIS, AS WELL AS ONE THEATER IN NEW JERSEY.
THE SALE IS EXPECTED TO BE COMPLETED THIS SUMMER. KERASOTES BEGAN WITH A SINGLE NICKELODEON IN SPRINGFIELD IN 1909 AND GREW TO NEARLY ONE-THOUSAND SCREENS. AMC, THE NATION'S SECOND-LARGEST THEATER CHAIN, HAS MORE THAN 305 THEATERS AND 45-HUNDRED SCREENS IN FIVE COUNTRIES.
TERMS OF THE DEAL, WHICH IS SUBJECT TO REGULATORY REVIEW, WERE
NOT REVEALED.
