It became the namesake for the theater chain in which it would be merged into with the Edwards and United Artists chains. ``As a matter of fact I just raised my estimate for next year on Regal, reiterated my `buy’ rating and raised my price target 12 months out based largely on this new concept called FunScape,″ said Thom Thomson, an analyst at Wheat First Butcher Singer in Richmond, Va., who has visited the center. Regal Cinemas recently said it will experiment with charging more for tickets during peak times and less at times when attendance is lighter. The theaters will continue operation under the Warren name.[18]. Regal Cinemas embarked on a large-scale expansion throughout the decade, acquiring smaller chains as well as building new, more modern multiplexes. [11] In 2002, Anschutz consolidated his three theatre holdings under a new parent company, Regal Entertainment Group. Regal operates 561 cinemas in 43 states and other U.S. territories. [9] His son, W. James Edwards III, became president and announced an ambitious expansion plan that would nearly double the company's screen count. Live. Their company up to this time was called Golden State Theatres. U.K. exhibition giant Cineworld Group has reached an agreement to acquire Canada's Cineplex for $2.1 billion to create one of the world's largest cinema companies with over 11,200 screens globally. It has 861 screens in 116 theaters spread across the Southeast and Midwest, with plans for another 300 in the next 18 to 24 months. You can change your choices at any time by visiting Your Privacy Controls. Two more FunScapes are under construction in Syracuse and Rochester, N.Y., and another is under development in the suburbs of Wilmington, Del. ``I never expected to see the company at this point, at this stage, ever,″ said Cincinnati film broker Philip Borack, whose company has been negotiating movie bookings for Campbell since the beginning and now is a Regal director. Abid Rahman Most new cinema construction uses the Regal Cinemas name. It expects to incur pretax costs of approximately $20 million over the two years to implement the combination benefits. The acquisition is subject to Cineworld and Cineplex shareholder approvals and regulatory consents. NBC and Turner Broadcasting were among the first to sign on to provide content for the venture, and the preshow, dubbed "The 2wenty," debuted in February 2003; this pre-film preshow is now known as "Regal FirstLook." Campbell, Regal’s chief executive, likes to talk about $15-per-day meal allowances for his employees, the joys of flying coach and finding a $40 hotel room on the road. Regal is closing its more than 500 US theaters indefinitely due to the coronavirus pandemic and a lack of new releases to show. ", In a prepared statement, Greidinger added: "The acquisition of Cineplex strengthens our belief in the theatrical business, one of the most affordable out-of-home forms of entertainment. [12] Regal's Mike Campbell and UA's Kurt Hall were named co-CEOs, with Campbell overseeing the theatre operations from Regal Cinemas' headquarters in Knoxville, and Kurt Hall heading up a new subsidiary, Regal CineMedia, from the UA offices in Centennial, Colorado. Theaters Indefinitely Amid Coronavirus Pandemic", "Cineworld Confirms "Temporary Suspension" Of Theatres In U.S. & UK From Thursday", "Cineworld Boss Mooky Greidinger Says Decision To Close U.S. & UK Cinemas Was Spurred By NY Governor Andrew Cuomo's "Inflexibility, "Cineworld closure puts 5,500 jobs at risk", "Regal Entertainment Group Corporate: Community Affairs", https://en.wikipedia.org/w/index.php?title=Regal_Cinemas&oldid=982029776, Movie theatre chains in the United States, Entertainment companies established in 1989, Companies formerly listed on the New York Stock Exchange, Companies that filed for Chapter 11 bankruptcy in 2001, American subsidiaries of foreign companies, Articles needing additional references from February 2020, All articles needing additional references, Wikipedia articles needing factual verification from January 2016, Official website different in Wikidata and Wikipedia, Creative Commons Attribution-ShareAlike License, This page was last edited on 5 October 2020, at 19:59. Cineworld will in the proposed deal pay $1.65 billion in cash, plus take on debt. We and our partners will store and/or access information on your device through the use of cookies and similar technologies, to display personalised ads and content, for ad and content measurement, audience insights and product development. See how the chain was founded in Knoxville, Tennesee, and grew to become the second-largest in the world. Regal Cinemas Expands California Reopenings The Regal Cinemas chain has expanded its California openings to nine locations in Sacramento, Fresno, Contra Costa, Yolo and … Crews arrived to the scene just after 2 p.m., and the scene remained active for hours after the initial call, though Pigeon Forge Fire Department among many others were able to get the fire contained. About 100 locations will remain open in Eastern and Central Europe, though the company makes the bulk of its revenue in the US and UK. Please email covidtips@businessinsider.com and tell us your story. U.K.-based Cineworld Group has announced a $2.8-billion Cdn friendly takeover of Canada's Cineplex Inc that would make it the largest cinema operator in North America if approved by shareholders. On May 17, 2009, Regal signed a deal with Sony Corporation to equip all of its theaters with Sony 4K digital projection over the next three to five years. Each RPX theater features a 60-foot screen, dual 30,000 lumen digital projectors, a 7.1 sound system, a Dolby Atmos sound system or an Auro 11.1 sound system with 273 loudspeaker components including eight 21 inch subwoofers. It took over the US assets of Hoyts Cinemas in March 2003[13][14] and announced the acquisition of San Ramon, California–based Signature Theatres in April 2004. Cineworld, which acquired Regal Cinemas in 2017, is the largest movie theater chain in the U.K., while Regal Cinemas is the second largest chain in the U.S. To enable Verizon Media and our partners to process your personal data select 'I agree', or select 'Manage settings' for more information and to manage your choices. Cineworld, which acquired Regal Cinemas in 2017, is the largest movie theater chain in the U.K., while Regal Cinemas is the second largest chain in the U.S. Today, through openings and acquisitions, Regal is the ninth-largest film exhibitor in North America. It has 861 screens in 116 theaters spread across the Southeast and Midwest, with plans for another 300 in the next 18 to 24 months. [32] As theaters converted to all digital automated screens, Regal also removed projectionists altogether. [17] In May 2017 Regal purchased the $200 million company Warren Theaters based in Wichita, Kansas. Regal stockholders will receive $23 in cash for each Class A share and Class B common stock. Regal agreed to sell off four theaters in the Asheville, Charlotte and Raleigh, North Carolina markets, but a large number of theaters still remains in all three markets. Are you one of them? © 2020 The Hollywood Reporter 11:36 PM PST 12/15/2019 Sign up for Insider Retail. During this event patrons can donate $1 to the Regal Foundation. ``I think it has a chance to be a huge success,″ echoed Gary Dennis at J.C. Bradford & Co. in Nashville. UA eventually dropped out of the merger, but the merger between Regal and Act III went through. 8h … On December 5, 2017, it was announced that the British theater chain Cineworld would acquire Regal for $3.6 billion,[5] making it the second largest global cinema exhibitor behind AMC.