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» Film-Tech Forum   » Operations   » Ground Level   » 16 Rave Motion Pictures cinemas to Carmike (Page 1)

 
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Author Topic: 16 Rave Motion Pictures cinemas to Carmike
Mike Rivest
Expert Film Handler

Posts: 185
From: Montréal QC Canada
Registered: Nov 2009


 - posted 10-11-2012 05:58 PM      Profile for Mike Rivest   Email Mike Rivest   Send New Private Message       Edit/Delete Post 
Found this at
http://www.bigscreen.com/journal.php?id=2676

theatres involed:
Rave Motion Pictures Lee Branch 15 - Birmingham, AL
Rave Motion Pictures Jubilee Square 12 - Daphne, AL
Rave Motion Pictures Patton Creek 15 & IMAX - Hoover, AL
Rave Motion Pictures Valley Bend 18 - Huntsville, AL
Rave Motion Pictures Wharf 15 - Orange Beach, AL
Rave Motion Pictures Vestavia Hills 10 - Vestavia Hills, AL

Rave Motion Pictures Avenue 16 - Melbourne, FL
Rave Motion Pictures Pensacola Bayou 15 - Pensacola, FL
Rave Motion Pictures Pensacola W Street 18 - Pensacola, FL
Rave Motion Pictures St. Lucie West 14 - Port St. Lucie, FL

Rave Motion Pictures Grand Prairie 18 - Peoria, IL

Rave Motion Pictures Jefferson Pointe 18 - Fort Wayne, IN
Rave Motion Pictures Metropolis 18 - Plainfield, IN

Rave Motion Pictures Promenade 16 - Center Valley, PA

Rave Motion Pictures East Ridge 18 - Chattanooga, TN

Rave Motion Pictures Yorktown 15 - Houston, TX

I guess these are being sold to pay for those National Amusements theatres.

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Martin McCaffery
Film God

Posts: 2481
From: Montgomery, AL
Registered: Jun 99


 - posted 10-11-2012 06:11 PM      Profile for Martin McCaffery   Author's Homepage   Email Martin McCaffery   Send New Private Message       Edit/Delete Post 
Well, that's ironic. Rave's original model was to go where the dinosaurs were dying and eat their bones. Those theatres in Alabama wiped out lots of Carmike theatres in the state. I'm surprised Rave is hanging on to their location in Montgomery.

Looks like the cockroaches will outlive the dinosaurs once again [evil]

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Joseph L. Kleiman
Master Film Handler

Posts: 380
From: Sacramento, CA
Registered: Apr 2005


 - posted 10-11-2012 07:14 PM      Profile for Joseph L. Kleiman   Email Joseph L. Kleiman   Send New Private Message       Edit/Delete Post 
A number of those cineplexes have IMAX auditoriums. Carmike has traditionally avoided IMAX, going instead with their own Big DDD concept. Will be interesting to see if they negotiate with IMAX or buy out the contracts and convert them all.

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Edward Havens
Jedi Master Film Handler

Posts: 614
From: Los Angeles, CA
Registered: Mar 2008


 - posted 10-12-2012 05:06 AM      Profile for Edward Havens   Email Edward Havens   Send New Private Message       Edit/Delete Post 
quote: Mike Rivest
I guess these are being sold to pay for those National Amusements theatres.
Nope.

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Mike Blakesley
Film God

Posts: 12767
From: Forsyth, Montana
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 - posted 10-12-2012 12:06 PM      Profile for Mike Blakesley   Author's Homepage   Email Mike Blakesley   Send New Private Message       Edit/Delete Post 
quote: Joseph L. Kleiman
Will be interesting to see if they negotiate with IMAX or buy out the contracts and convert them all.
They'll do whatever's cheaper.

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Jeff Taylor
Jedi Master Film Handler

Posts: 601
From: Chatham, NJ/East Hampton, NY
Registered: Apr 2000


 - posted 11-06-2012 10:51 AM      Profile for Jeff Taylor   Email Jeff Taylor   Send New Private Message       Edit/Delete Post 
Rave took over a National at one of my properties in Massachusetts two years ago and have done NOTHING with it. They still have tape over the word Showcase on the marquee! I also don't understand why they stopped putting the current attractions on the roadside sign. Lazy. It's a good thing we still have National guaranteeing the lease.

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Dennis Benjamin
Phenomenal Film Handler

Posts: 1445
From: Denton, MD
Registered: Feb 2002


 - posted 11-21-2012 10:35 AM      Profile for Dennis Benjamin   Author's Homepage   Email Dennis Benjamin   Send New Private Message       Edit/Delete Post 
Cinemark just bought the rest of the Raves.

LINK

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Edward Havens
Jedi Master Film Handler

Posts: 614
From: Los Angeles, CA
Registered: Mar 2008


 - posted 11-21-2012 10:50 AM      Profile for Edward Havens   Email Edward Havens   Send New Private Message       Edit/Delete Post 
quote: Dennis Benjamin
Cinemark just bought the rest of the Raves.
Nope. There are still eleven.

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Martin McCaffery
Film God

Posts: 2481
From: Montgomery, AL
Registered: Jun 99


 - posted 11-21-2012 11:17 AM      Profile for Martin McCaffery   Author's Homepage   Email Martin McCaffery   Send New Private Message       Edit/Delete Post 
I was wondering why Rave got rid of all Alabama theaters but the one in Montgomery. So now Cinemark will have a chance to kill off what's left of Carmike here (not much).

It was just this week that Rave finally unlisted all of the other Alabama theatres from its website.

How is Cinemark as a chain?

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Dennis Benjamin
Phenomenal Film Handler

Posts: 1445
From: Denton, MD
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 - posted 11-21-2012 01:39 PM      Profile for Dennis Benjamin   Author's Homepage   Email Dennis Benjamin   Send New Private Message       Edit/Delete Post 
Shoot, missed that. They only have 11 left? Wonder who'll get those?

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Louis Bornwasser
Film God

Posts: 4441
From: prospect ky usa
Registered: Mar 2005


 - posted 11-21-2012 03:03 PM      Profile for Louis Bornwasser   Author's Homepage   Email Louis Bornwasser   Send New Private Message       Edit/Delete Post 
Martin: is the one remaining the best one in that area? Perhaps they have an anti-trust problem and had to keep one. Louis

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Martin McCaffery
Film God

Posts: 2481
From: Montgomery, AL
Registered: Jun 99


 - posted 11-21-2012 03:19 PM      Profile for Martin McCaffery   Author's Homepage   Email Martin McCaffery   Send New Private Message       Edit/Delete Post 
Louis:
Rave only has one theatre in Montgomery, they wiped out Carmike, which now only has a really rundown mall 8 screen in Montgomery and a used 12 screen they got from O'Neills the next town over. In Montgomery proper there are just we three theatres. Until Rave came in however many years ago, it was just us and Carmike in Montgomery. Back around 1982 or so the 3 big chains in Alabama divvied up the territories and Carmike got all the theatres (about 6) then in Montgomery, so monopoly problems flew out the window then. We took over the Capri from Carmike in 1983.

Carmike bought all of six of Rave's theatres in the Birmingham area, after Rave spent years wiping out Carmike there. I believe the Rave here is one of the oldest in the chain (not counting those they bought), which may be why Carmike didn't buy it.

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Martin McCaffery
Film God

Posts: 2481
From: Montgomery, AL
Registered: Jun 99


 - posted 11-24-2012 05:14 PM      Profile for Martin McCaffery   Author's Homepage   Email Martin McCaffery   Send New Private Message       Edit/Delete Post 
While we're on the subject, does anyone know what/where the first Rave theatre was? On the wikipedia list, Montgomery has the earliest date (Dec 2000), but some aren't dated. I was pretty sure there were 3 or 4 before us, most likely in Texas. Rave was formed in 1999, so not likely too many. Is it possible Montgomery is the oldest Rave built theatre? Could that be the reason it hasn't sold?

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Scott Jentsch
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From: New Berlin, WI, USA
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 - posted 11-26-2012 10:23 AM      Profile for Scott Jentsch   Author's Homepage   Email Scott Jentsch   Send New Private Message       Edit/Delete Post 
When I wrote our article about the Cinemark-Rave deal, I also noticed that even though the press release said that the 32 theaters represented "substantially all of the assets of Rave," there were still some left over (14 by my count).

I looked around for any news articles or press releases that talked about another company making a purchase from Rave, but couldn't find anything. I'm guessing that the remainders will be sold to independents or just summarily closed. I seem to remember this happening when AMC bought quite a few Kerasotes locations in 2010.

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Sam Graham
AKA: "The Evil Sam Graham". Wackiness ensues.

Posts: 1431
From: Waukee, IA
Registered: Dec 2004


 - posted 11-26-2012 06:40 PM      Profile for Sam Graham   Author's Homepage   Email Sam Graham   Send New Private Message       Edit/Delete Post 
In fact, AMC has picked up four.

AMC Entertainment and Rave Reviews Cinemas Announce Deal Regarding Four Theatres

quote:
KANSAS CITY, Mo., Nov 26, 2012 (BUSINESS WIRE) -- AMC Entertainment Inc. (AMC) a preeminent U.S. movie exhibitor, and Rave Reviews Cinemas, L.L.C., a portfolio company of BV Investment Partners (Rave), announced today that they have entered into a definitive agreement pursuant to which AMC will acquire four theatres owned by Rave and managed by Rave Cinemas, LLC under the "Rave Motion Pictures" brand. The four theatres have 61 all-digital screens, 46 percent of which are 3D capable. The theaters are in three markets new to the AMC portfolio; Montgomery, Ala., Destin, Fla., and Baton Rouge, La. (two theatres). Each theatre has obtained the No. 1 position in all three markets and the average age of the theatres is nine years, with numerous upgrades having occurred at each location since construction.

"We are pleased to add these four theatres to our quality fleet of locations. This is a natural progression of business that we anticipated following our own acquisition by the Wanda Group," said Gerry Lopez, AMC CEO and president. "With this strategic acquisition, we are adding new markets to our footprint and serving a new audience in the South and Southeast. We're very excited to bring our amazing movie-going experience to these new parts of the country."

"We are pleased to be handing over the ownership of these four top notch theaters to such a high quality company as AMC. We thank all of our theater employees who have done an excellent job over the years and we also thank Rave Cinemas, LLC which has managed these theaters professionally and profitably for us since 2009," said Roy F. Coppedge III, Managing Director of BV Investment Partners.

Completion of the acquisition is subject to the satisfaction of customary closing conditions for transactions of this type.

Foros acted as financial advisor and Ropes & Gray LLP acted as legal counsel to Rave in this transaction.

Forward-Looking Statements

Certain statements in this press release, as well as reports and other information that AMC files with the Securities and Exchange Commission, include "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, or the Securities Act, and Section 21E of the Securities Exchange Act of 1934, as amended, or the Exchange Act. The words "forecast," "estimate," "project," "intend," "expect," "should," "believe" and similar expressions are intended to identify forward-looking statements. These forward-looking statements involve known and unknown risks, uncertainties, assumptions and other factors, which may cause AMC's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.

About AMC Theatres

AMC Theatres(R) delivers distinctive and affordable movie-going experiences in 332 theatres and 4,804 screens throughout the United States. AMC operates 25 of the 50 highest grossing theatres in the United States, including four of the top five. AMC has propelled industry innovation and continues today by delivering premium sight and sound, enhanced food and beverage and diverse content to an engaged audience in state-of-the-art buildings. www.amctheatres.com

About BV Investment Partners

BV Investment Partners is one of the oldest and most experienced sector-focused private equity firms in North America. Since its founding in 1983, the firm has invested over $2.6 billion in over 75 companies, actively targeting investments in the information and business services and communications industries. For more information, please visit www.bvlp.com .

SOURCE: AMC Entertainment Inc.


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