Paramount Sells U.S. Movie Theaters To Kinepolis In $30 Million Deal
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- Kinepolis agreed to acquire 13 Showcase Cinemas in the U.S. from Harbor Lights Entertainment (formerly National Amusements Inc.) in a deal with an enterprise value of $30 million, expected to close by late summer.
- The acquisition adds 164 screens and 17,794 seats to Kinepolis' U.S. footprint, spanning seven theaters in Massachusetts, four in New York, one in Ohio, and one in Rhode Island.
- Harbor Lights Entertainment (National Amusements) owned the real estate for six of the 13 locations, with the remaining seven operating under lease agreements, and the $30 million price is largely covered by that real estate value.
- The acquired theaters served approximately 4 million customers in 2025 and generated over $90 million in revenue but were cash flow break-even from operations alone.
- National Amusements was acquired from Shari Redstone by the Ellison family and RedBird Capital last August, and the new owners had always planned to divest the theaters as Paramount's debt will increase dramatically in its pending merger with Warner Bros. Discovery.
- Kinepolis CEO Eddy Duquenne said the acquisition extends its U.S. presence from Michigan to the East Coast and that the company will retain the Showcase Cinemas brand name.
Why it matters: The new Paramount owners (Ellison family and RedBird Capital) are actively shedding non-core assets — starting with these 13 theaters — ahead of a merger with Warner Bros. Discovery that will sharply increase the combined company's debt load, signaling a deliberate strategy to simplify the balance sheet before consolidation.
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