Westfield-based Digital Cinema Destinations Corp., a motion picture exhibitor dedicated to transforming movie theaters into digital entertainment centers, announced Friday the acquisition of a seven-screen theater in Churchville, Md. from Flagship Cinemas.
According to the announcement, Digiplex Chairman and CEO Bud Mayo said, "Digiplex continues its active M&A strategy as we further expand our unique digital circuit into top US markets. We have three additional pending locations that would add an aggregate of 32 screens to the Company’s growing footprint and a healthy pipeline of other expansionary opportunities in various stages of negotiations."
Consideration for the acquisition was a combination of cash and DCIN common stock. Additional financial terms were not disclosed.
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