Denver billionaire Phil Anschutz is selling his movie theater chain.
On Tuesday, Regal Entertainment Group (NYSE: RGC) said it was being acquired by Cineworld Group of Great Britain in a deal valued at $3.6 billion.
Anschutz's Regal, which operates 7,315 screens in 561 theatres, said Cineworld was also assuming more than $2 billion of its debt in the deal. The deal will create a movie theater company with about 9,000 screens around the world.
"We believe this partnership with Cineworld will enhance Regal’s ability to deliver a premium movie-going experience for customers and further build upon our strategy of introducing innovative concepts and premium amenities designed to enhance the value of our theatre assets," said Amy Miles, CEO of Regal, in a statement.
Read more at the Denver Business Journal: http://bit.ly/2BAS53s