Film-Tech Forum ARCHIVE: AMC makes bid for General Cinema

This is topic AMC makes bid for General Cinema in forum Ground Level at Film-Tech Forum ARCHIVE.

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Posted by Adam Martin (Member # 641) on 07-12-2001, 10:34 AM:

From the Hollywood Reporter ... anyone with a subscription with to post the rest of the article?

quote:
NEW YORK -- AMC Entertainment Inc. emerged Wednesday as a surprise bidder for beleaguered Boston-based exhibitor General Cinema with a $62.5 million offer seeking to derail a planned takeover of the circuit by investment firms Onex Corp. and Oaktree Capital Management. The AMC offer, which came during bankruptcy court hearings in Wilmington, Del., tops the Onex/Oaktree bid by $20 million. Both bids also involved the assumption of General Cinema debt, which would take the total value of AMC's bid to about $240 million. Onex, controlled by Canadian billionaire Gerald Schwartz, and Los Angeles-based Oaktree also are attempting to buy the nation's second-largest exhibitor, Loews Cineplex Entertainment Corp. They unveiled their bid for General Cinema parent GC Cos. last month.