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Stock Market & Financial Investment News

News Breaks
December 12, 2012
08:09 EDTDCINDigital Cinema signs asset purchase agreements to buy seven theaters
Digital Cinema announced that, together with its new joint venture partner, Start Media, LLC, it arranged the signing of Asset Purchase Agreements for the proposed acquisition of seven movie theaters with an aggregate of 74 fully digital screens from UltraStar Cinemas. Six of the theaters are located in the Southern California/San Diego market and the seventh is based near Phoenix, AZ. The acquisitions are targeted to be consummated by the new joint venture, Start Media/Digiplex, LLC, on December 14, subject to customary closing conditions. The aggregate purchase price for the theaters is anticipated to be approximately $13M, subject to closing adjustments, consisting of $8M in cash plus approximately 910,000 shares of the Company’s Class A common stock, valued at $5.50 per share. Digiplex’s initial capital contribution would be in the form of shares needed to fund the stock portion of the purchase price. Digiplex will be the exclusive manager of each of the theaters under long-term management contracts, will receive management fees estimated to exceed $1M per year, and will have an initial membership interest in the JV of approximately 35%.
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April 8, 2014
07:35 EDTDCINDigital Cinema to acquire 8-plex in Lansing, IL
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