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Regal Cinemas has been bought by Britain’s Cineworld

Regal Cinemas has been bought by Britain’s Cineworld
[Photo: Connor Limbocker/Unsplash]

Regal Entertainment Group is the second largest cinema chain in the United States after AMC Theaters. The company’s buyout by Britain’s Cineworld is a $3.6 billion deal that the companies say puts them in a better position to not only fight AMC Theaters but also tech players in the entertainment industry, including Netflix, Apple, and Amazon, reports Reuters. Thanks to their original content and the increasing popularity of massive 4K televisions in homes, cinema chains are finding that they have more competition for viewers now than at any time in the past. This summer Hollywood and cinema chains had their lowest revenues in two decades, reports the BBC. Many industry watchers say this is partly due to better, high-quality content being offered in-home by the likes of Netflix and Amazon.MG