Movie Theater Firms in Joint Venture: AMC...

Movie Theater Firms in Joint Venture: AMC Entertainment Inc. and TPI Enterprises Inc. agreed to form a joint venture that will own all of TPI’s approximately 55 movie theater complexes. The new company, called Exhibition Enterprises Partnership, will be 50% owned by each firm. AMC will contribute its 3.8 million shares of TPI stock to the partnership, which will assume $100 million in debt and capitalized leases as part of the transaction. AMC, based in Kansas City, Mo., is one of the country’s biggest theater owners. New York-based TPI owns restaurants and theaters throughout the South.