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Rave Cinema at Promenade Sold to Carmike Cinema Group

Acquisition announced today as part of larger deal; transition will take place before the end of the year.

For moviegoers valley-wide, "Meet me at the Rave" will become "Meet me at the Carmike" by 2013. 

According to a recent press release, the  an anchor for the  was acquired by the Carmike Cinema family of theaters late this morning. 

Carmike already operates the Carmike 16 movie theaters off Catasauqua Road in Hanover Township (Lehigh County).

The acquisition was part of a larger purchase agreement that included 16 theaters in seven states. The release states the Carmike Theater company paid $19 million in cash and assumed $100.4 million in lease obligations as part of the agreement. 

"The addition of these 16 state-of-the-art theatres and 251 screens from Rave is a key, opportunistic development," said Carmike Cinema president and CEO David Passman. "We also look forward to enthusiastically welcoming the Rave associates at these theatres to the growing Carmike family."

According to recent articles, Carmike shows special features similar to the Rave, with classic movies, operas and sporting events rounding out the usual movie fare in theaters nationwide.

In August, Carmike made news when a bomb threat was called in to several Carmike Cinemas throughout the country. 

The full agreement includes the following theaters: 

 

 

 

State

 

 

Market

 

 

Theatre

AL Birmingham Lee Branch 15 AL Birmingham Patton Creek 15* AL Birmingham Vestavia Hills 10 AL Daphne Jubilee Square 12 AL Huntsville Valley Bend 18* AL Orange Beach Wharf 15 FL Melbourne Avenue 16 FL Pensacola Bayou 15* FL Pensacola Pensacola 18 FL Port St. Lucie Port St. Lucie 14 IN Fort Wayne Jefferson Point 18* IN Indianapolis Metropolis 18 IL Peoria Grand Prairie 18* PA Allentown (CV) Promenade 16* TN Chattanooga East Ridge 18* TX Houston Yorktown 15

* Denotes theatre with an IMAX auditorium

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