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UK's Cineworld targets U.S. expansion with $3.6 billion deal to buy Regal Entertainment


By Arathy S Nair(Reuters) - Britain's Cineworld Group Plc sealed an agreement to buy larger U.S. peer Regal Entertainment Group on Tuesday for $3.6 billion in cash, a deal that would create the world's second largest movie theatre operator.The takeover would put the combined company in a better position to take on industry leader AMC Entertainment Holdings Inc , and give it more scale to fight growing competition from Netflix Inc, Apple Inc and other digital outlets.Regal is three times larger than Cineworld by market value and the combined company would have about 9,542 screens, with 7,315 ...

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First Published: Tue, December 05 2017. 17:52 IST