Carmike Buys GKC Cinemas

COLUMBUS, Ga. – Carmike Cinemas, one of the nation’s four largest theatre chains, announced in April that it had entered into an agreement to purchase the 263-screen George Karasotes Corp. (GKC). The $66 million deal will increase Carmike’s holdings by 30 sites.

The acquisition of the GKC sites will enhance Carmike’s presence in Illinois, Michigan, Indiana and Wisconsin.

Carmike chairman and CEO Michael Patrick stated, “We expect to continue to expand our presence in small-market America by taking advantage of organic growth in underserved markets and opportunities to acquire other exhibitors as our industry continues to consolidate.”

Columbus, Ga.-based Carmike’s pre-acquisition screen count stands at 2,173 screens at 280 sites in 36 states

In Focus - July 2005