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FIRST ON WGIL: Owner of Galesburg Movie Theatre Sells Chain
FIRST REPORTED 6:00am 1/20/10 The movie theatre in Galesburg soon will officially be under new ownership.

A news release issued Tuesday by Kerasotes Theatres announced that with the exception of one theatre and two other concept theatres, the Chicago-based chain is being acquired by Kansas City-based A.M.C. Entertainment.

The two theatre chains say that they've entered into a definitive agreement that will lead to A.M.C.'s takeover of Kerasotes pending appropriate federal approvals.

Kerasotes owns the ShowPlace 8 theatre in Galesburg among 95 others. A.M.C. owns around 300 theatres in five countries.

A.M.C. president Gerry Lopez says in the statement that the combining of the two companies will help continue to re-define the industry.

Kerasotes has been a family-owned business, but in the last six years has been partially owned by a Rhode Island-based equity firm.

Managers at Showplace 8 say 35 people currently work there. It's not believed there will be any major changes as a result of the A.M.C. acquisition.
01 20 10 by Newsroom
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