Movie Theater Consolidation Continues as Hollywood Box Office Falls
U.K.-based Cineworld (OTC: CNWGY) is poised to become North America's largest movie theater operator as it acquires Canada's Cineplex (OTC: CPXGF) in a reported $1.6 billion deal, escalating the movie screen arms race that began in earnest in 2012 when China's Dalian Wanda Group purchased AMC Entertainment (NYSE: AMC).
There are relatively few theater chains that remain independent globally, as Cineworld owns Regal, Cinema City, Yes Planet, Picture House, and its namesake theater chain, while Dalian Wanda owns AMC, Carmike, Odeon, UCI Cinemas, Nordic, and Hoyts. Together they operate over 21,000 screens across more than 1,800 theaters.
While Dalian Wanda is still the biggest worldwide, Cineworld has taken the crown in North America.
Source Fool.com
