This is topic Onyx buys General Cinema in forum Film Handlers' Forum at Film-Tech Forum ARCHIVE.
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Posted by Rick Long (Member # 213) on 06-13-2001, 08:43 PM:
The story from the Ottawa Buisness Journal:
http://207.176.174.130/bjnews/ottawa24964newsarticle.html
Posted by Jonathan Haglund (Member # 807) on 06-14-2001, 02:32 AM:
Odd that they paid so little.Edwards was bought out for 56 million I think for a 51% stake in the company, and they have less screens in fewer markets.
Posted by Dustin Mitchell (Member # 372) on 06-14-2001, 06:10 AM:
Indeed, that's less than one million a theatre for 100% share. Odd.
Posted by Jerry Chase (Member # 660) on 06-14-2001, 09:24 AM:
? That figure is more like 4.5 mil per location for the GCC locations (stock symbol GCX). The stock price on a privately held stock isn't as important except to the investors themselves.Deals like this are difficult to figure unless you know all the details. Primarily, what is being purchased is the use of the locations.
Posted by Jonathan Haglund (Member # 807) on 06-14-2001, 12:45 PM:
4.5 per location?I'm not Evans, but 73 theatres for 55 million doesn't seem to work out to that number to me. Along with the join venture of 17 more theatres, that's 90. Still, I'm not seeing the 4.5 per theatre math working.
Posted by Adam Martin (Member # 641) on 06-14-2001, 02:45 PM:
I think what Jerry was referring to was the $330 million total cost of the reorganization. 330/73 = 4.5 
Posted by Jonathan Haglund (Member # 807) on 06-14-2001, 07:25 PM:
Ah, then it makes sense. But the cost of reorganization has nothing to do with the sale price. Price to reorganize after the sale will be 275 mil I guess. They must have really been in the pits.
Posted by Rick Long (Member # 213) on 06-14-2001, 07:31 PM:
My apologies, I spelt the name worng. Should be Onex Corp.
This from their page.
http://www.onexcorp.com/ic/default.asp?selectedArea=news&selectedSection=recent
Posted by Gordon McLeod (Member # 33) on 08-01-2001, 04:58 PM:
Has anyone heard any followup after the AMC offer?
Posted by Adam Martin (Member # 641) on 08-01-2001, 05:43 PM:
I've heard absolutely nothing since the bid was announced. In fact, no relevant press at all about any of the four parties (AMC, GC, Onex, Oaktree) since then. Okay, so Onex sold Sky Chefs for $1.8 billion, but that doesn't count.