AMC in Talks to Acquire Former Pacific Theaters Locations at the Grove and Americana

AMC Theaters is making good on its announced plans to acquire more multiplexes at prime locations, as sources tell TheWrap that it is in final talks to take over operations of two cinemas in Los Angeles once owned by Pacific Theaters, the Grove and Americana.

The deal would be a natural fit as L.A. billionaire Rick Caruso — whose real estate firm, Caruso Affiliated, runs the two high-end shopping complexes — told reporters in April that his company intended to find a new operator for the theaters as quickly as possible after Pacific and premium sister company ArcLight Cinemas announced that they would not reopen their locations. While ArcLight provided a luxury experience with a focus on arthouse and prestige fare, Pacific served as a more traditional chain, screening wide releases, which would allow AMC to take over operations at the Grove and Americana with a smooth transition.

AMC and Caruso
See full article at The Wrap »

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