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Carmike Cinemas, Inc. was an American motion picture exhibitor headquartered in Columbus, Georgia. As of March 2016, the company had 276 theaters with 2,954 screens in 41 states, and was the fourth largest movie theater chain in the United States. [1] The company billed itself as "America's Hometown Theatre" and Carmike theaters were largely ...
1 day ago · Self-coined as “America’s Hometown Theatre,” Carmike Cinemas Inc. was founded in 1982 by Carl Patrick, Sr. and as of December 2016, owns and operates 276 theaters, with 2,954 screens in 41 states. With those numbers, it’s the fourth largest cinema operator in America.
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Carmike Cinemas was a motion picture exhibitor headquartered in Columbus, Georgia. As of March 2016, the company had 276 theaters with 2,954 screens in 41 states, and was the fourth largest movie theater chain in the United States. The company billed itself as "America's Hometown Theatre" and Carmike theaters were largely positioned in rural or suburban areas with populations under 200,000. The company's theaters operated under various names and generally had a name followed by the number of auditoriums at that location; for example, "Carmike 15".
On March 4, 2016, AMC Theatres announced its intent to acquire Carmike Cinemas. The deal was closed on December 21, 2016; Carmike locations were converted to the AMC brand in 2017, with the Carmike logo and slogan being repurposed for the new AMC Classic banner (which was adopted by smaller AMC locations with fewer premium amenities).
Carmike was founded when Carl L. Patrick, Sr. acquired Martin Theatres from Fuqua Industries in 1982. The company's name was derived from a combination of the first names of Carl L. Patrick, Sr.'s two sons, Carl Jr. and Michael, hence "Carmike".
In 1996, Carmike purchased Fox Theatres Corp. (which had 61 screens in their chain), and Maxi Saver Cinemas (which had 18 screens in their chain), both primarily in Pennsylvania. In 1997, Carmike partnered with Walmart to start the Hollywood Connection, starting with a location in Columbus, Georgia. Amenities include a modern multiplex or megaplex movie theater with 5–15 screens, indoor miniature golf, a roller skating rink, a laser tag arena, and a video game arcade. At the time, Carmike was wanting this field to be extremely profitable. While the Columbus, Georgia location is still open, other locations in West Valley City, Utah (a suburb of Salt Lake City), DeKalb, Illinois, Valparaiso, Indiana (a suburb of Chicago), and Goshen, Indiana have closed.
Carmike filed for Chapter 11 bankruptcy protection in August 2000 after failing to make US$9 million in interest payments to bondholders—the company owed approximately US$650 million in debt. Since declaring bankruptcy, many theaters (mostly smaller single, twin and triple theatres) in inactive markets were closed down, and some were renovated or relocated in areas with desirable market potential—most of these newer theaters are 10 screens or larger. The number of theaters owned or operated by the company dropped from 448 to just over 300.
During bankruptcy, the company was forced to sell or close several historic theaters, including the Villa Theatre in Salt Lake City, Utah and the Indian Hills Theater in Omaha, Nebraska, the latter of which contained a 70-foot (21 m) wide Cinerama screen, believed to be the largest in the US at the time. The Indian Hills was eventually demolished in August 2001 by its new owners, Methodist Health System, and replaced with a parking lot for the system's nearby hospital and nursing college. Actress Patricia Neal called the destruction of the theater "a crime" in a letter of support, and letters were also written by Kirk Douglas, Janet Leigh, Robert Wise and film critic Leonard Maltin.
Carmike exited bankruptcy in January 2002, having successfully restructured its debts and operations. A judge approved the Chapter 11 plan, filed in October 2001, which involved payment of US$263 million of Carmike's bank loans.
In 2005, Carmike purchased 30 GKC Theaters (263 screens) from Beth Kerasotes (the heir of George Kerasotes) for $66 million. The George Kerasotes Corporation was the result of a split with other family members who jointly owned Kerasotes Theatres. In December 2008, Mark Cuban acquired a 9.4 percent stake in Carmike Cinemas and, following a Securities and Exchange Commission (SEC) filing, Cuban explained that his interest was for investment purposes.
Mar 4, 2016 · AMC Theatres acquired Carmike Cinemas in a billion-dollar deal in 2016, becoming the largest movie theater chain in the world. The transaction diversified AMC’s footprint, expanded its guest experience strategies, and reduced costs and expenses.
Mar 4, 2016 · The U.S. theater chain announced on Thursday that it acquired theater chain Carmike Cinemas (CKEC) in an acquisition that is worth $1.1 billion. The deal will make AMC Theaters the biggest...
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Find local Carmike Cinemas with our list of movie theaters owned by this chain. See movie times, buy movie tickets, and more at Fandango.com.
