The Great Smoky Mountain Journal
Source:
Posted: Tuesday, January 01, 2019 02:36 PM
Four Top Execs Out At Regal Entertainment Group
A source told Local 8 News that CEO Amy Miles, President and Chief Operating Officer Greg Dunn as well as executive vice presidents Peter Brandow and David Ownby are no longer with the company.
Local 8 News reached out to Regal's director of marketing and communications Richard Grover for details, but the call went to voicemail.
The acquisition with Cineworld Group, one of the U.K.'s largest cinema operators, was first announced in December 2017. The $6.3 billion transaction was approved unanimously by Regal's and Cineworld's boards of directors.
The agreement was expected to cost Cineworld $4 billion of new debt facilities and a $2.3 billion equity raise, making a total of $6.3 billion.
What does this mean for Knoxville? Regal Entertainment Group said Cineworld has committed to having a strong presence in Knoxville.
Regal submitted the following statement in December, "It remains business as usual at Regal. We are committed to maintaining a strong presence in Knoxville and in the United States. This commitment includes keeping our new headquarters in Knoxville as planned."
On Wednesday, CEO of Cineworld Group Mooky Greidinger released the following statement: "We are excited to have Regal join the Cineworld Group and proud to be a part of the Knoxville community. Millions of Regal/Cineworld customers love the movie-going experience and we are committed to being ‘The Best Place to Watch a Movie!’
Regal runs one of the largest theater circuits in the country from corporate offices in Knoxville. Regal has 7,315 screens in 561 theaters in 43 states along with Guam, Saipan, American Samoa and the District of Columbia.
