Carmike Stockholders approved a merger agreement with AMC Theatres on November 15, 2016 and the merger was completed on December 20, 2016.
Before the merger, Carmike operated 271 theatres with 2,923 screens in 41 states, with a focus on mid-sized communities.
Muvico Theatres was purchased by Carmike in November 2013 but continued to operate our local Muvico Theatre under its original name. Muvico premiered at the Oaks Mall on February 27, 2009. So we are talking three different owners in less than eight years!
No word yet on if AMC will maintain the Muvico brand.
AMC is the largest movie exhibition company in the world, with approximately 636 theatres and 7,623 screens worldwide, including the largest cinema operator in Europe, Odeon Cinemas Group. AMC indicates it has the #1 or #2 market share positions in 21 of the 25 largest metropolitan areas in the United States, including the top three markets (NY, LA, Chicago). AMC, through its Odeon subsidiary, operates in seven European countries and is the No. 1 theatre chain in the UK & Ireland, Italy and Spain.
In a January 30, 2017 press release, AMC previewed preliminary 2016 results of revenue in the $3.2 billion range and net earnings in the range of $112 million to $120 million. It will release complete financial results after the market closes on February 28th.