| Marcus Theatres(R) to Purchase College Avenue 16 Cinema in Appleton, Wis. from Regal Entertainment Group |
MILWAUKEE, Sep 15, 2010 (BUSINESS WIRE) -- Marcus Theatres(R), a division of The Marcus Corporation (NYSE: MCS), today announced it has signed an agreement to purchase the College Avenue 16 Cinema located at W3091 Van Roy Road in Appleton, Wis. from Regal Entertainment Group located in Knoxville, Tenn. The theatre will close Wednesday, September 22 to install new equipment and will reopen Friday, October 1 as a Marcus Theatres location. The theatre has 16 screens and approximately 3,000 seats. "We are pleased to add the College Avenue 16 to our Marcus Theatres circuit," said Bruce J. Olson, president of Marcus Theatres. "Marcus Theatres has been a strong community partner in the Appleton area for many years with our Hollywood Cinema and Funset Boulevard on the west side of the city. We know moviegoers who attend the College Avenue 16 Cinema will also enjoy the high-quality services and exceptional experience our theatres provide to our guests. Marcus Theatres has been in the motion picture exhibition business for 75 years and we look forward to continuing to bring the latest pictures and entertainment to movie-goers in all of our markets throughout the Midwest." Olson said the College Avenue 16 will be rebranded as a Marcus theatre and most likely will undergo a name change. Current associates of the theatre will be given the opportunity to apply for employment with Marcus Theatres, and pricing and policies will be similar to surrounding-area Marcus Theatres locations. The financial details of the transaction were not disclosed. About Marcus Theatres Marcus Theatres(R), a division of The Marcus Corporation (NYSE: MCS), is the sixth largest theatre circuit in the United States and currently owns or operates 668 screens at 54 locations in Wisconsin, Illinois, Iowa, Minnesota, Nebraska, North Dakota and Ohio, and one family entertainment center in Wisconsin. For more information, visit the Marcus Theatres website at www.marcustheatres.com. About The Marcus Corporation Headquartered in Milwaukee, Wisconsin, The Marcus Corporation is a leader in the lodging and entertainment industries. In addition to its Marcus Theatres division, the company's lodging division, Marcus(R) Hotels and Resorts, owns or manages 19 hotels, resorts and other properties in ten states. For more information, visit the company's web site at www.marcuscorp.com. The company is celebrating its 75th anniversary in 2010. For more information on the company's 75th anniversary sweepstakes and activities, please visit www.marcus75.com. Certain matters discussed in this press release are "forward-looking statements" intended to qualify for the safe harbors from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements may generally be identified as such because the context of such statements include words such as we "believe," "anticipate," "expect" or words of similar import. Similarly, statements that describe our future plans, objectives or goals are also forward-looking statements. Such forward-looking statements are subject to certain risks and uncertainties which may cause results to differ materially from those expected, including, but not limited to, the following: (1) the availability, in terms of both quantity and audience appeal, of motion pictures for our theatre division, as well as other industry dynamics such as the maintenance of a suitable window between the date such motion pictures are released in theatres and the date they are released to other distribution channels; (2) the effects of increasing depreciation expenses, reduced operating profits during major property renovations, and preopening and start-up costs due to the capital intensive nature of our businesses; (3) the effects of adverse economic conditions in our markets, particularly with respect to our hotels and resorts division; (4) the effects of adverse weather conditions, particularly during the winter in the Midwest and in our other markets; (5) the effects on our occupancy and room rates from the relative industry supply of available rooms at comparable lodging facilities in our markets; (6) the effects of competitive conditions in our markets; (7) our ability to identify properties to acquire, develop and/or manage and continuing availability of funds for such development; and (8) the adverse impact on business and consumer spending on travel, leisure and entertainment resulting from terrorist attacks in the United States, the United States' responses thereto and subsequent hostilities. Shareholders, potential investors and other readers are urged to consider these factors carefully in evaluating the forward-looking statements and are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements made herein are made only as of the date of this press release and we undertake no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances. SOURCE: The Marcus Corporation Investors: |