Regal Entertainment Group (NYSE:RGC) reported that it is currently engaged in talks with Cineworld Group plc about a probable all-cash deal of Regal for $23 per share. No deal has been finalized, and there is no surety that any deal will finalize. The company does not plan to respond to any inquiries or make any further comment, until a deal, if any, is reached, or talks have been canceled.
Regal Entertainment manages one of the leading and most geographically different theatre circuits in the U.S., comprising of 7,315 screens in 561 theatres in as many as 43 states along with American Samoa, the District of Columbia, Guam and Saipan as of the close of September 30, 2017. The firm runs theatres in 48 of the leading 50 U.S. designated market regions. They consider that the quality, size and reach of the firm’s theatre circuit provides its patrons with an enjoyable and convenient movie-going experience, and also a remarkable platform to attain economies of scale in theatre operations.
In unrelated news, Regal Entertainment announced the Regal Holiday Classics, a 5-week series showcasing some the top holiday movies of all time. This started on November 25, 2017 with The Polar Express, and will showcase a new film each week concluding on Christmas weekend with movie – Gremlins. Steve Bunnell, the Chief Content Officer, expressed that it’s the time to gather family and friends and join them for the Regal Holiday Classics. These five movies are holiday favorites and it is the best course to experience them.
Each screening starts at noon on Saturdays at limited Regal Cinemas across the nation. In addition, Crown Club members who buy tickets with their card, are entitled to get a special price offer for a soda and medium popcorn combo per purchase.
In the last trading session, the stock price of Regal Entertainment gained over 2% to close the day at $20.17.