Cinemark in talks to buy Century Theatres - WSJ

NEW YORK, Aug 3, 2006 (Reuters) - Cinemark Inc. is in talks to buy Century Theatres Inc., a combination that would create one of the largest players in the movie theater business, the Wall Street Journal reported on Thursday, citing people with knowledge of the matter.
Cinemark, owned by the Chicago private-equity firm Madison Dearborn Partners LLP, approached Century about the possibility of a purchase last year, the report said.
But the price tag of up to $1 billion that Century Theatres' owners sought at that time was significantly higher than the Cinemark bid and no deal was struck, the paper reported.
A combination of the two movie chains would create a serious rival for Regal Entertainment Group (RGC.N: Quote, Profile, Research), the report said.
Representatives for Cinemark and Century Theatres could not immediately be reached for comment.