Regal Entertainment Group to Consider Potential Sale
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Fuse/Thinkstock(NEW YORK) — One of the largest movie theater owners and operators in the U.S. reported disappointing third-quarter financial results and will consider a potential sale of the company.
Regal Entertainment Group, the largest movie theater chain in the U.S., said on Monday that its board of directors “authorized the exploration of strategic alternatives to enhance the shareholder value, which may include a potential sale of the company,” a release from the company said.
The announcement comes after the company released its third-quarter financial numbers, which showed a sharp decrease in profits from a year ago. This past quarter, Regal made $693.8 million in revenue, much lower than the $813.1 million it made in the third quarter of 2013.
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