Kansas City, Mo. - AMC Entertainment Inc. ("AMC"), and Kerasotes Showplace Theatres, LLC ("Kerasotes"), two leading theatrical exhibition and entertainment companies in the U.S., announced today that they have entered into a definitive agreement pursuant to which AMC will acquire substantially all of the assets of Kerasotes. Kerasotes owns 96 theatres and 973 screens in mid-sized, suburban and metropolitan markets, primarily in the Midwest. More than three quarters of the Kerasotes theatres feature stadium seating and almost 90 percent have been newly built since 1994. Following the consummation of the proposed transaction, Tony and Dean Kerasotes will retain and operate their two new ICON concept theatres in Minneapolis, MN and Chicago, IL; and one Showplace theatre in Secaucus, NJ. Kerasotes is currently owned by the Kerasotes family and Providence Equity Partners.

"Combining Kerasotes' highly-regarded assets and operations with our own is a natural way for us to continue re-defining the future of our industry," said Gerry Lopez, AMC CEO and president. "With almost 200 years in the exhibition business between us, our collective experiences and our complementary geographic footprints will allow us to maintain the reputation for excellence and leadership that is part of each company's culture."

"Our team has delivered a consistent, high quality experience for customers, and we have appreciated Providence's partnership over the last six years in helping Kerasotes grow into the sixth largest motion picture exhibition company in North America" said Tony Kerasotes, Chief Executive Officer. "We expect these theatres will be a strong addition to the AMC theatre circuit, and look forward to successfully completing the transaction with AMC and to beginning our next chapter."

Completion of the acquisition is subject to the satisfaction of customary closing conditions for transactions of this type, including Department of Justice antitrust approval.

Kerasotes Theatres' financial advisor was Peter J. Solomon Company, LP.

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COLUMBUS, Ga. -- Carmike Cinemas, Inc. (NASDAQ: CKEC), a leading digital cinema and 3D motion picture exhibitor, today announced that John A. Lundin has been appointed Vice President-Film, responsible for Carmike's relationships with motion picture production companies. The appointment is effective January 25th and Mr. Lundin will report to Chief Operating Officer Fred Van Noy.

Lundin, a 37-year theatrical exhibition and film industry veteran, most recently served as District Manager for Sony Pictures Distribution, which he joined in July 2009. Prior to his tenure at Sony, he was VP Film/Head Film Buyer at one of the world's leading theatre exhibitors for 14 years. Lundin has also held management positions at Cannon Pictures, Litchfield Theatres/United Artists Theatres, Columbia Pictures and United Artists Pictures. He began his career in the industry in 1972 at Buena Vista Distribution following his college education.

Carmike Cinemas President and Chief Executive Officer David Passman, stated, "John brings an extensive track record of relevant industry experience to Carmike, and we are delighted that he will be joining our team. He has a unique background, having sat on both sides of the negotiating table at various organizations throughout his career. For Carmike and all exhibitors, film selection and determining the best markets for a given motion picture is a critical element of success, while film rental is an important piece of our cost structure. We are confident that John is well suited to represent Carmike as its lead film buyer, overseeing these key areas for us."

Mr. Lundin is a Director of the Will Rogers Motion Pictures Pioneers Foundation and also serves on its Neonatal Committee. He graduated with a Bachelor of Arts degree from Hillsdale College in Michigan.

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Source: THR

Screenwriter Michael R. Perry and director Kevin Greutert have been tapped to put together a sequel to Paranormal Activity for Paramount. The project will go up against Saw VII this coming October. The first Paranormal Activity was able to grab the top spot at the box office over Saw VI this past October.

No plot details have been released at this time.

Paranormal Activity turned into one of the biggest surprise hits of all time thanks to a worldwide haul of more than $150 million.

 

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BURBANK, Calif. -- Rich Ross, chairman of The Walt Disney Studios (TWDS), announced today that Sean Bailey has been named President of Walt Disney Studios Motion Picture Production as the segment continues to restructure its operation. In his new role, he will oversee all aspects of live-action development, film production and physical production for Walt Disney Pictures and Touchstone Pictures. Additional changes to international theatrical distribution, multicultural initiatives, publicity, communications and Walt Disney Studios Home Entertainment were made as part of the business' new strategic direction.

"Building upon a strong foundation with the company, Sean brings great creative instincts and considerable filmmaking experience to his new role at The Walt Disney Studios. His close relationships throughout the creative community and industry at large make him an ideal leader to set the direction of TWDS' future film slates," said Ross. "Sean's talent, energy, and commitment to delivering quality content will help us achieve our goals of producing and distributing Disney-branded movies that entertain audiences worldwide."

"I am honored and thrilled to join a company with the history and tradition of The Walt Disney Studios," said Bailey. "Working with the strong team that has been assembled under Rich's leadership, I look forward to working with the Studios' impressive array of talented filmmakers to create entertaining, inspiring films that uphold the legacy and quality of classic Disney movies and capture the imagination of our global audiences."

Bailey's feature film producing credits include Matchstick Men, Gone Baby Gone and the upcoming Disney film, Tron Legacy. He is the founder and president of the production company, Idealogy, Inc. He also co-founded the integrated media firm, LivePlanet, with Ben Affleck, Matt Damon and Chris Moore and was the executive producer of several high profile television programs including LivePlanet's three-time Emmy-nominated Project Greenlight. Sean wrote the screenplay Liberty for The Walt Disney Company and co-wrote the screenplay Solace.

Sean has created, packaged and developed film, television and new media concepts for Walt Disney Pictures, Miramax, 20th Century Fox, Columbia Pictures, DreamWorks, New Line Cinema, Paramount, Sony Pictures, Universal Pictures, Warner Bros., and all of the major television networks.

To further streamline the distribution of future TWDS' theatrical content, Ross also announced today that 23-year Disney veteran Chuck Viane, President, Distribution for Walt Disney Studios Motion Pictures, will take on all aspects of international sales and distribution across 70 countries, in addition to his on-going responsibilities overseeing domestic sales and distribution operations. Viane will report directly to Bob Chapek, President of Distribution for The Walt Disney Studios.

Other executives will take on new assignments as part of the Studios' restructuring. Christine Cadena, currently Senior Vice President, Marketing, Synergy and Franchise Development, will become Senior Vice President, Multicultural Initiatives, leading all diversity and multicultural efforts. Michelle Sewell has been promoted to Senior Vice President, Global Publicity, overseeing the domestic and international publicity departments, and is responsible for formulating and executing worldwide publicity campaigns for all live-action and animated motion pictures. She will report to the head of marketing.

The Studios' communications team will also transition as John Nicoletti becomes Vice President, Global Communications and Paul Roeder moves to Director, Global Communications. Heidi Trotta, Senior Vice President of Studio Communications, will stay on as a consultant for a transitional period.

Cadena, Nicoletti and Trotta will report directly to Ross.

"I'm fortunate that I have been able to access the deep talent pool within the Studio and throughout The Walt Disney Company," said Ross.

In addition to the executive level changes, the Studio will also continue its reorganization of the workforce at Walt Disney Studios Home Entertainment.

"Our industry is evolving rapidly and in order to remain at its forefront, we are adapting our organization to be more agile, creative and responsive," said Ross.

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