DENVER (Legal Newsline) - Colorado Attorney General John Suthers has reached an agreement with a prominent movie theater group over its proposed acquisition of another local theater group.
AMC Entertainment Group had reached a deal to buy a series of venues from Kerasotes Showplace Theatres for $275 million, which would have created a monopoly in the Louisville-Broomfield area and in the Arvada-Westminster area, Suthers said.
According to the agreement, AMC Entertainment Group will divest its Kerasotes Colony Square 12 and Kerasotes Olde Town 14 theaters before purchasing Kerasotes Showplace Theatres, in order to prevent it from having a monopoly.
"This agreement ensures that Colorado moviegoers will not find themselves the victim of anticompetitive business practices at area movie theaters," Suthers said.
"Protecting Colorado from unfair business practices is one of the most important duties of the attorney general's office. This antitrust case is just one more example of the good work my office's Consumer Protection Section does every day on behalf of the people of Colorado."
Under terms of the agreement, the office of the attorney general and the U.S. Department of Justice will be responsible for the monitoring of AMC Entertainment Group's compliance with the court-approved deal.