DENVER — Colorado Attorney General John Suthers announced today that his office, in cooperation with the U.S. Department of Justice, has reached an agreement with AMC Entertainment Group in connection with its proposed acquisition of rival theater company Kerasotes Showplace Theatres. In order to prevent AMC Entertainment Group from having a monopoly over theater screens in the Louisville-Broomfield area and in the Arvada-Westminster area, the company will be required to divest its Kerasotes Colony Square 12 and Kerasotes Olde Town 14 theaters.
Without selling the theaters in question, AMC Entertainment Group would have had effective monopolies in their respective markets after acquiring a series of venues from Kerasotes Showplace Theatres as part of a $275 million business deal.
“This agreement ensures that Colorado moviegoers will not find themselves the victim of anticompetitive business practices at area movie theaters,” Suthers said. “Protecting Colorado from unfair business practices is one of the most important duties of the Attorney General’s Office. This antitrust case is just one more example of the good work my office’s Consumer Protection Section does every day on behalf of the people of Colorado.”
The Office of the Attorney General and the U.S. Department of Justice will be responsible, under the agreement, to monitor AMC Entertainment Group’s compliance with the court-approved deal.