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Author Topic: Onyx buys General Cinema Rick Long Jedi Master Film Handler Posts: 759 From: Toronto, Ontario, Canada Registered: Nov 1999 posted 06-13-2001 08:43 PM                     The story from the Ottawa Buisness Journal: http://207.176.174.130/bjnews/ottawa24964newsarticle.html  |  IP: Logged Jonathan Haglund Film Handler Posts: 81 From: Irvine, CA, USA Registered: Apr 2001 posted 06-14-2001 02:32 AM                        Odd that they paid so little. Edwards was bought out for 56 million I think for a 51% stake in the company, and they have less screens in fewer markets.  |  IP: Logged Dustin Mitchell Phenomenal Film Handler Posts: 1865 From: Mondovi, WI, USA Registered: Mar 2000 posted 06-14-2001 06:10 AM                     Indeed, that's less than one million a theatre for 100% share. Odd.  |  IP: Logged Jerry Chase Phenomenal Film Handler Posts: 1068 From: Margate, FL, USA Registered: Nov 2000 posted 06-14-2001 09:24 AM                       ? That figure is more like 4.5 mil per location for the GCC locations (stock symbol GCX). The stock price on a privately held stock isn't as important except to the investors themselves. Deals like this are difficult to figure unless you know all the details. Primarily, what is being purchased is the use of the locations.  |  IP: Logged Jonathan Haglund Film Handler Posts: 81 From: Irvine, CA, USA Registered: Apr 2001 posted 06-14-2001 12:45 PM                        4.5 per location? I'm not Evans, but 73 theatres for 55 million doesn't seem to work out to that number to me. Along with the join venture of 17 more theatres, that's 90. Still, I'm not seeing the 4.5 per theatre math working.  |  IP: Logged Adam Martin I'm not even gonna point out the irony. Posts: 3686 From: Dallas, TX Registered: Nov 2000 posted 06-14-2001 02:45 PM                     I think what Jerry was referring to was the $330 million total cost of the reorganization. 330/73 = 4.5  |  IP: Logged Jonathan Haglund Film Handler Posts: 81 From: Irvine, CA, USA Registered: Apr 2001 posted 06-14-2001 07:25 PM                        Ah, then it makes sense. But the cost of reorganization has nothing to do with the sale price. Price to reorganize after the sale will be 275 mil I guess. They must have really been in the pits.  |  IP: Logged Rick Long Jedi Master Film Handler Posts: 759 From: Toronto, Ontario, Canada Registered: Nov 1999 posted 06-14-2001 07:31 PM                     My apologies, I spelt the name worng. Should be Onex Corp. This from their page. http://www.onexcorp.com/ic/default.asp?selectedArea=news&selectedSection=recent  |  IP: Logged Gordon McLeod Film God Posts: 9532 From: Toronto Ontario Canada Registered: Jun 99 posted 08-01-2001 04:58 PM                     Has anyone heard any followup after the AMC offer?  |  IP: Logged Adam Martin I'm not even gonna point out the irony. Posts: 3686 From: Dallas, TX Registered: Nov 2000 posted 08-01-2001 05:43 PM                     I've heard absolutely nothing since the bid was announced. In fact, no relevant press at all about any of the four parties (AMC, GC, Onex, Oaktree) since then. Okay, so Onex sold Sky Chefs for $1.8 billion, but that doesn't count.  |  IP: Logged

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