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Stock Market & Financial Investment News

News Breaks
November 18, 2012
13:43 EDTCNKCinemark to acquire 32 theatres from Rave Cinemas
Cinemark USA and Rave Real Property Holdco, an affiliate of Rave Cinemas announced that they have entered into an asset purchase agreement pursuant to which Cinemark will acquire substantially all of the assets of Rave, primarily consisting of 32 theatres located in 12 states, representing 483 screens, for a purchase price of approximately $240 million. The purchase price, the amount of which is subject to certain closing date adjustments, will consist of cash consideration and the assumption of certain liabilities. “The acquisition of these high quality assets will further enhance Cinemark’s diversified domestic footprint, including the expansion of our presence in the New England market,” stated Tim Warner, Cinemark’s Chief Executive Officer.
News For CNK From The Last 14 Days
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August 2, 2015
20:09 EDTCNKParamount sticks to shortened schedule despite theater pushback, LA Times says
In an interview with the LA Times published Saturday, Viacom's (VIA, VIAB) Paramount Pictures chairman Rob Moore defended his company's recent decision to accelerate the home release of movies, saying, "We have a generation growing up who consume entertainment in a very specific way and they aren't making plans for six weeks from now. They are making their plans for six hours from now and we in the motion picture industry have to adapt." The report notes that after Paramount announced plans to significantly reduce the lag time between theater and home releases, both Regal (RGC) and Cinemark (CNK) flatly rejected the idea. Reference Link
July 22, 2015
10:01 EDTCNKOn The Fly: Analyst Initiation Summary
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08:40 EDTCNKCinemark initiated with a Buy at Benchmark Co.
Target $49.13.

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