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CENTENNIAL, Colo. - National CineMedia, Inc. (NASDAQ:NCMI) announced Monday it has acquired Spotlight Cinema Networks, a cinema advertising company focused on art house, luxury, and dine-in theaters.
The acquisition increases NCM's national market share by approximately 6% and expands its presence in the New York and Los Angeles markets by 30%, according to a company press release.
Spotlight's exhibitor partners include Cinépolis Luxury Cinema, Landmark Theatres, Flix Brewhouse, and LOOK Dine-In Cinemas, complementing NCM's existing national theater network.
"The acquisition of Spotlight Cinema Networks strengthens our network and expands access to luxury audiences, enhancing the value of our platform for premium advertisers," said Tom Lesinski, Chief Executive Officer of NCM.
The company expects to realize the full run-rate synergies over the course of 2026. On a pro forma basis, the transaction is expected to be accretive to shareholders, with a purchase multiple of 4.5x pro forma EBITDA.
NCM operates the largest cinema advertising platform in the U.S., with more than 17,500 screens in over 1,350 theaters across 184 Designated Market Areas. The company's Noovie Show is presented in 42 theater circuits including AMC Entertainment Inc. (NYSE:AMC), Cinemark Holdings, Inc. (NYSE:CNK) and Regal Entertainment Group. According to InvestingPro data, AMC currently trades near its 52-week low of $2.25 with a market cap of $1.17 billion while carrying a substantial debt burden of $8.2 billion. InvestingPro analysis indicates AMC is currently undervalued despite facing significant financial challenges, including negative free cash flow of $295.3 million over the last twelve months.
The acquisition aligns with NCM's long-term growth strategy and supports its commitment to strategic investment, according to the statement. InvestingPro offers additional insights on AMC and other cinema stocks through its comprehensive Pro Research Reports, available for over 1,400 US equities. These reports transform complex Wall Street data into clear, actionable intelligence for smarter investing decisions.
In other recent news, AMC Entertainment Holdings Inc. reported its third-quarter earnings for 2025, with revenue reaching $1.3 billion, surpassing the forecast of $1.23 billion. The earnings per share (EPS) were recorded at -$0.21, slightly missing the expected -$0.19. Despite the EPS not meeting expectations, the revenue surprise marked a significant development for the company. Analysts had anticipated different earnings figures, and the actual results prompted a positive response in the market. These recent developments highlight the company's performance in the third quarter. No other significant news, such as mergers or analyst upgrades or downgrades, was reported for AMC in this period.
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