Film-Tech Forum ARCHIVE: AMC makes bid for General Cinema

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Topic: AMC makes bid for General Cinema

Adam Martin
I'm not even gonna point out the irony.

Posts: 3686
From: Dallas, TX
Registered: Nov 2000

posted 07-12-2001 10:34 AM

From the Hollywood Reporter ... anyone with a subscription with to post the rest of the article?

quote:
NEW YORK -- AMC Entertainment Inc. emerged Wednesday as a surprise bidder for beleaguered Boston-based exhibitor General Cinema with a $62.5 million offer seeking to derail a planned takeover of the circuit by investment firms Onex Corp. and Oaktree Capital Management. The AMC offer, which came during bankruptcy court hearings in Wilmington, Del., tops the Onex/Oaktree bid by $20 million. Both bids also involved the assumption of General Cinema debt, which would take the total value of AMC's bid to about $240 million. Onex, controlled by Canadian billionaire Gerald Schwartz, and Los Angeles-based Oaktree also are attempting to buy the nation's second-largest exhibitor, Loews Cineplex Entertainment Corp. They unveiled their bid for General Cinema parent GC Cos. last month.

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