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Regal In Strategic Closures

KNOXVILLE, TN-A strong second quarter tracks with the overall industry's rebound performance.

By Debra Hazel | Updated on August 01, 2006

KNOXVILLE, TN-Regal Cinemas is continuing its strategic plan of closing outmoded and underperforming theaters even as box office continues to rebound and new technologies are being explored, executives said during its second quarter conference call.

Regal, the largest motion picture exhibitor in the world, will shutter 28 theaters with a total of 225 screens, while opening nine theaters with 135 screens in fiscal 2006. Regal operates 6,383 in 542 theaters across the United States.

“Clearly, our long-term strategy is to close theaters that are at the end of their lease term or are underperforming,” said Michael Campbell, chairman and CEO of Regal Entertainment Corp. “This is a somewhat fluid process, but we do continue to look for opportunities.”

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