Carmike Cinemas, Inc.
CKEC
NASDAQ33.40
USD
+0.20
- -
Carmike Cinemas, Inc.
CKEC
(NASDAQ)
Recent
price
33.40
P/E
ratio
- -
div
yld
- -
ROIC.AI
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in mil. unless spec.- Similar Companies
- Business
- Carmike Cinemas, Inc. was an American motion picture exhibition company established in 1982, headquartered in Columbus, Georgia. The company built its business by focusing on smaller, non-urban communities, establishing itself as "America's Hometown Theatre." Throughout the 1980s and 1990s, Carmike expanded significantly through both new construction and strategic acquisitions, growing to become one of the largest movie theater chains in the United States. Its operations primarily involved showing films and selling concessions, catering to local audiences in suburban and rural areas. After navigating a period of financial restructuring in the early 2000s, Carmike continued to acquire other theater circuits. By March 2016, it operated 276 theaters with 2,954 screens across 41 states. In a significant industry development, AMC Theatres announced its intention to acquire Carmike Cinemas for approximately $1.1 billion in March 2016. This transaction concluded on December 21, 2016, with Carmike becoming a wholly-owned subsidiary of AMC. The merger allowed Carmike shareholders to receive either cash or AMC stock for their shares. Following the acquisition, AMC rebranded most former Carmike locations under its various banners, including AMC, AMC Classic, or AMC Dine-In, effectively integrating the "hometown theatre" footprint into AMC's larger national and global operations. This move solidified AMC's position as the largest theatrical exhibitor in the United States.