Kinepolis Acquires Showcase Cinemas: Expanding Presence in the U.S. Market
Harbor Lights Entertainment, owned by the Ellison family, has recently sold its Showcase Cinemas theater chain to the European cinema group Kinepolis in a $30 million deal. Kinepolis will now operate 13 cinemas in the United States, with locations in Massachusetts, New York, Ohio, and Rhode Island. David Ellison, who acquired National Amusements last year and renamed it Harbor Lights, is currently in charge of Paramount Skydance.
Paramount is in the process of acquiring Warner Bros. Discovery in a $111 billion deal, with plans to release 30 films per year. However, the deal involves significant cuts and debt. Despite awaiting regulatory approval, some state officials are considering legal action to block the merger, citing concerns about competition, wages, and job losses.
With the acquisition of Showcase Cinemas, Kinepolis will add 164 screens to its portfolio, expanding its presence in the U.S. market. The company, established in 1997, currently operates cinemas in Europe, the U.S., and Canada. The newly acquired theaters welcomed four million visitors and generated over $90 million in revenue last year.
Kinepolis CEO Eddy Duquenne expressed excitement about the acquisition, stating that it will enhance the moviegoing experience for audiences in the newly acquired markets. Showcase Cinemas will retain its name, and the acquisition is expected to be finalized by the end of the summer.