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Marcus Theaters Acquires 11 Theaters for $76M

MILWAUKEE-Marcus Theatres Corp. is acquiring 11 theaters from Cinema Entertainment Corp for $75.7 million.

By Gina Kenny | Updated on March 23, 2007

MILWAUKEE-Marcus Theaters Corp., a division of Marcus Corp., has signed an agreement to acquire, through a subsidiary, 11 theaters from Cinema Entertainment Corp., based in St. Cloud, MN. Marcus is acquiring the theaters for $75.7 million. The theaters, with a total of 122 screens, are located in five metropolitan markets including St. Cloud, MN; Duluth, MN; Superior, WI; Fargo, ND; Moorhead, MN and Cedar Falls, IA; and Waterloo, IA, according to a statement. Representatives from Marcus Theaters did not return a phone call seeking comment.

Marcus Theaters Corp. currently has theaters in Illinois, Minnesota, Ohio and Wisconsin which will make the acquisition Marcus Theatres’ first foray into Iowa and North Dakota. After the acquisition, Marcus will have 628 screens in 52 locations in six states and will be the seventh largest movie chain in the country. Marcus expects to close on the transaction by the end of next month.

A new Marcus movie theater, called the Majestic, is also scheduled to open in May in Brookfield, WI. Besides movie screens, the theater will have an area for performances and meetings, a pizza café, a coffee and ice-cream shop and a cocktail lounge. West Point Cinemas, at 20241 W. Bluemound Rd. in Brookfield, will close when the new Brookfield theater opens.

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