AMC buys insolvent General
Consolidation in the North American exhibition sector continues apace as AMC Entertainment acquired ailing General Cinemas out of bankruptcy court. Under the agreement, AMC, the second-largest exhibitor by screens, will pay the creditors of General's parent GC Companies valued at more than $175m in cash and AMC stock . AMC Chairman and CEO Peter Brown said the acquisition would expand AMC's presence in important major markets, particularly in the Northeast and upper Midwest,
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