UPDATED, AFTER EXCLUSIVE: The worlds largest exhibitor AMC Theaters has made a deal with Bow Tie Cinemas to snap up and operate seven of Bow Tie’s locations in Connecticut, upstate New York and Annapolis, MD. All in this is an additional 66 screens for AMC. The circuit confirmed the news initially heard by Deadline in a news blast.
For those who’ll remember, Bow Tie at one point use to operate the late Ziegfeld Theater in NYC on W. 54th Street, which opened in 1969 and closed in 2016. Bow Tie is the oldest theater circuit stateside, having begun in 1900 and owned by third and fourth generations of its founding family. The exhibitor will continue to operate theaters in Richmond, VA; New Haven, CT; Schenectady, NY; Ridgewood, NJ; Basalt, CO and Manhattan. The company is expanding into the Luxury Entertainment Center business as well as additional cinema locations.
AMC’s absorption of Bow Tie venues in Connecticut include the Marquis 16, Royale 6, SoNo 8 (formerly Regent 8), Majestic 6 and Landmark 8, which will increase AMC’s share of cinemas in the Constitution State by more than two times.
AMC gains Bow Tie’s Saratoga Springs 11 in upstate New York and Annapolis Mall 11 in Annapolis. The circuit, I understand through sources, will keep employees intact at all the locations.
Marquis 16, Landmark 8, Majestic 6 and Annapolis Mall 11 are scheduled to open the weekend of April 21, while the others are eyeing a reopening at the end of April.
Many of the chain’s popular amenities and AMC Stubs A-List loyalty program will go into effect.
Marquis 16, Royale 6, SoNo 8, Majestic 6, Landmark 8 and Annapolis Mall 11 were spruced up in recent years with recliner seats. Saratoga Springs 11, Marquis 16, Majestic 6 and Annapolis Mall 11, I understand, will have PLF screens.
Back in December, AMC reached lease agreements in the Los Angeles and Chicago markets to form Pacific and Arclight Cinemas including the Northridge Fashion Center 10 and Arclight Chicago 14 in the Lincoln Park neighborhood, in addition to the Grove and Glendale Galleria locations in the LA market .
Said AMC CEO Adam Aron about today’s deal, “Today’s announcement is exciting for AMC, our shareholders and many moviegoers in the northeastern United States. Our theater acquisition strategy makes AMC a better and stronger company as we move forward on our glidepath to recovery. Acquiring these locations is especially notable for our expansion in Connecticut, where we are more than doubling our presence. We are encouraged to bring the magic of AMC to more and more theaters across the country, given our mid-2021 acquisitions of AMC The Grove 14 and AMC Americana at Brand 18, both in the Los Angeles market, continue to rank among the 30 highest grossing movie theaters in the entire United States since joining up with AMC.”