A Georgia movie theater chain is paying $45 million to acquire New Jersey’s Digital Cinema Destinations Corp., whose holdings include Digiplex movie theaters in Bloomfield, Lisbon and Torrington.
As part of the all-stock deal, Georgia’s Carmike Cinemas will exchange 0.17 of its common shares for every share of DCDC’s stock, which closed Thursday at $4.94. That amounts to approximately 1.4 million shares of Carmike stock, valued at approximately $45.5 million.
Digiplex has 21 theaters in seven states and agreements to acquire five more.
The deal, expected to close in the third quarter, increases Carmike’s footprint to 280 theaters in 41 states. It would be the company’s first foray into Connecticut.
