Regal Up For Grabs?

Phil Anschutz is reportedly in talks to sell his Regal Entertainment Group to London-based Cineworld Group Plc for $23 a share in an all-cash deal.

Combining the two companies would create a larger competitor to AMC Entertainment, reports say. 

– Regal Entertainment

Regal has a reported 7,315 screens in 561 theatres in 43 states as well as in places like Guam and Saipan. “No agreement has been reached, and there is no assurance that any transaction will result,” Regal said.

Regal’s profit dropped 73% to $11 million during the three months ended Sept. 30 compared to the same period last year., as noted by the Los Angeles Times, and had a recent market value of about $3.5 billion.