Carmike Shareholders Agree to $1.2 Billion AMC Merger

The transaction will remain subject to closing conditions including regulatory approval, which is expected to be completed by the end of 2016 or early 2017.

“We are pleased with the outcome of today’s vote,” said David Passman, Carmike Cinemas’ president and chief executive officer, in a statement. 

In addition to providing Carmike stockholders with significant value and the opportunity to participate in the upside potential of a combined AMC-Carmike, this transaction creates an opportunity to deliver an even more compelling movie-going experience to more guests in many more locations across the country.

In July, AMC — which is owned by Chinese entertainment giant Dalian Wanda Group — agreed to buy British theater chain Odeon & UCI in a deal valued at $1.2 billion.

Combined, Odeon and Carmike control more than 5,000 screens, and completing both deals would make AMC parent Wanda — which also owns China’s biggest theater chain — the first exhibitor to manage more than 10,000 screens worldwide.

While American law prevents the vertical integration of movie production and distribution, Washington has failed to apply the same measures to the Communist-sponsored Dalian Wanda and its ability to influence the movie industry.