Eastern Iowa Cinema Being Sold
The same company which owns cinemas in Cedar Falls & Waterloo has agreed to purchase Wehrenberg Theatres, which operates the Galaxy 16 Cine in Cedar Rapids.
Milwaukee-based Marcus Theatres also owns and operates the Coral Ridge Cinema in Coralville, the Sycamore Cinema in Iowa City, the College Square Cinema in Cedar Falls and the Crossroads Cinema in Waterloo.
The agreement is expected to be finalized next week.
The Cedar Rapids Gazette reports the merger of Marcus and Wehrenberg comes at a time when AMC Entertainment is waiting for approval to acquire Carmike Cinemas for $1.2 billion. The deal, which must be approved by Carmike shareholders and the U.S. Justice Department, would create the largest movie theater chain in the United States, with more than 600 locations in 45 states.
Carmike operates the Wynnsong 12 on Edgewood Road SW in Cedar Rapids.