Cinemark To Divest 19 Theaters In $220M Rave Deal

Law360, Los Angeles (May 20, 2013, 6:27 PM EDT) -- The U.S. Department of Justice on Monday said Cinemark Holdings Inc. and its sister company have agreed to divest 19 movie theaters in Kentucky, New Jersey and Texas in order to win the federal agency's approval of Cinemark's $220 million acquisition of Rave Holdings LLC.

Cinemark Chairman Lee Roy Mitchell will divest Movie Tavern Inc. — a Dallas company operating 16 theaters in Fort Worth and Denton, Texas — and three additional theaters as part of a deal to protect moviegoers from paying higher ticket prices,...
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