Cinemark to take over Rave Cinemas

DAYTON, Ohio (WDTN) - Cinemark USA, Inc., one of the largest motion picture exhibitors, has announced plans to take over Rave Cinemas.

Cinemark has purchased 32 theaters in 12 states for approximately $240 million.

All 483 screens to be acquired are fully digital.

“The acquisition of these high quality assets will further enhance Cinemark’s diversified domestic footprint, including the expansion of our presence in the New England market,” stated Tim Warner, Cinemark’s Chief Executive Officer.

“We are excited about the opportunity to bring these two great companies together. Rave associates and field partners have worked hard to build a top-notch circuit, and Cinemark is well known as one of the best in the business,” said Rolando Rodriguez, President and CEO of Rave Cinemas. “I am confident that under Cinemark's leadership, Rave’s exceptional quality and customer service will be taken to an even higher level.”

Rave bought Showcase Cinemas in December 2009.

Cinemark operates 461 theaters with 5,207 screens in 39 U.S. states, Brazil, Mexico, Argentina and 10 other Latin American countries.

Cinemark has a theater in Piqua located at 1020 Garbry Road.