National CineMedia acquires Spotlight Cinema Networks

National CineMedia Inc. (NASDAQ: NCMI) announced it has acquired Spotlight Cinema Networks, a cinema advertising company that serves art house, luxury, and dine-in theaters across the United States.

The acquisition adds Spotlight's exhibitor partners, including Cinépolis Luxury Cinema, Landmark Theatres, Flix Brewhouse, and LOOK Dine-In Cinemas, to NCM's existing theater network. The transaction increases NCM's national market share by approximately 6% and expands its theater presence in New York and Los Angeles markets by 30%.

"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.

NCM expects to realize full run-rate synergies by 2026. The company stated the transaction is expected to be accretive to shareholders on a pro forma basis, with a purchase multiple of 4.5x pro forma EBITDA.

NCM operates what it describes as the largest cinema advertising platform in the United States, with more than 17,500 screens across over 1,350 theaters in 184 designated market areas. The company's theater network includes AMC Entertainment Inc. (NYSE: AMC), Cinemark Holdings Inc. (NYSE: CNK), and Regal Entertainment Group.

The information is based on a company press release statement.

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