KANSAS CITY, Mo. — Federal regulators gave conditional approval Tuesday to
The U.S. Department of Justice said its approval hinges on Leawood, Kansas-based AMC selling
AMC also has to divest most of its holdings in National CineMedia, a cinema advertising company, and transfer 24
The Justice Department said the deal, which requires court approval, would lead to higher prices for moviegoers without such conditions.
AMC, which was bought by Chinese conglomerate Dalian Wanda Group in 2012, called Tuesday's action "the final regulatory hurdle" in its push for Carmike, adding in a statement that it expects to complete the transaction "expeditiously." It did not elaborate.
"Needless to say, we are in a good mood in Leawood, Kansas," Adam Aron, AMC's chief executive and president, said during a conference call Tuesday with reporters and analysts. "Today is a glorious day and another great day for AMC."
Aron said 15 to 20
AMC, already the world's biggest
Carmike, based in Columbus, Georgia, has 271
The local markets where AMC must sell off
The deal includes $585 million in cash and $250 million in AMC's Class A common stock. AMC is also assuming about $367 million in debt in the deal.
AMC shares rose 25 cents to $33.45 on Tuesday. Shares of Carmike closed at $33.40, up 15 cents.