AMC will take over 93 of Kerasotes’ 96 movie theaters. Tony and Dean Kerasotes will continue to own and operate the ShowPlace Icon theater that opened in December on Roosevelt Road near Clark Street. The men will also retain an Icon theater in Minneapolis and a ShowPlace theater in Secaucus, N.J.Is this a good thing or a bad thing? Our initial read is that they (Kerasotes) values the new theater, which is a good thing. What do you think?
Tuesday, January 19, 2010
Kerasotes Sells Theaters to AMC...But Not New Roosevelt Collection Theater
A reader just commented about this transaction and sure enough it seems to be true. According to Crain's Kerasotes has agreed to sell 93 of it's 96 regional theaters to AMC. However, it seems like they're holding on to the new ICON theater that just opened in the South Loop recently: