Bow Tie Cinemas is coming soon to a theater near you.
The Ridgefield-based theater chain announced that it has acquired almost all of the Clearview Cinema theaters from Bethpage-based Cablevision Systems Corp.
The transaction includes Clearview”™s theaters in Bedford, Larchmont, Mamaroneck, Mount Kisco, White Plains and Yonkers. Financial terms were not disclosed.
Bow Tie, which has sites in the Connecticut towns of Greenwich, New Canaan, Norwalk, Trumbull, Westport and Wilton, will become the eighth largest theater chain with 388 screens in 63 locations in seven states and have the largest number of theater locations in the New York metropolitan area.
“This is a transformational acquisition for Bow Tie Cinemas and an exciting new chapter in our company”™s rich history,” Ben Moss, CEO of Bow Tie Cinemas, said in a statement. “Bow Tie makes long-term commitments in the communities where we own theaters by building local partnerships, employing local people and engaging our patrons.”
Cablevision acquired the theater chain in 1998 and put it on the block last year saying that it was not a strategic asset for the company.
Bow Tie said it intends to make substantial investments in its newly acquired theaters.
