Cineplex Odeon to Sell More Theaters: The...
From Times Staff and Wire Reports
Cineplex Odeon to Sell More Theaters: The movie theater chain said it is selling 24 movie theaters in the Carolinas and Tennessee to Carmike Cinemas Inc. of Columbus, Ga., for $11 million. Toronto-based Cineplex Odeon announced last week that it was selling 38 theaters in five Midwest and Western states to Plitt Amusement Co. Inc. of Los Angeles for $31.7 million. Cineplex, which has been under financial pressure, will use proceeds from the sales to pay down its long-term debt.
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