CONSOLIDATED THEATRES ACQUIRED BY REGAL ENTERTAINMENT GROUP
Knoxville, Tennessee - April 30, 2008 – Regal Entertainment Group
(NYSE: RGC), a leading motion picture exhibitor owning and operating
the largest theatre circuit in the United States, has acquired
Consolidated Theatres from ABRY Partners, LLC. The transaction was
Regal acquired a total of 28 theatres
representing 400 screens in exchange for approximately $210 million in
cash. The acquisition of the Consolidated circuit will enhance Regal's
presence in Georgia, Maryland, North Carolina, South Carolina,
Tennessee and Virginia.
"We expect the acquisition of
Consolidated's circuit will be accretive to cash flows and earnings and
are pleased to announce another acquisition of high quality assets…"
stated Mike Campbell, CEO of Regal Entertainment Group.
About Regal Entertainment Group
Entertainment Group is the largest motion picture exhibitor in the
world. The Company's theatre circuit, comprising Regal Cinemas, United
Artists Theatres and Edwards Theatres, operates 6,385 screens in 525
locations in 39 states and the District of Columbia.
About ABRY Partners
in Boston, ABRY Partners is among the most experienced and successful
media-focused private equity investment firms in North America and
Europe. ABRY has completed over $21 billion of leveraged transactions
and other private equity and mezzanine investments, representing
investments in more than 450 media properties since 1989. ABRY focuses
on investments in the media, communications, business and information