Kinepolis Acquires 13 Cinemas from Ellison-Controlled Harbor Lights Entertainment

Harbor Lights Entertainment, an entity linked to the Ellison family, has divested its portfolio of 13 movie theaters located across the northeastern and midwestern United States. The acquisition was made by Kinepolis, a prominent cinema operator, in a deal reportedly valued at $30 million.

Kinepolis, an international cinema group, has finalized an agreement to purchase 13 movie theater locations from Harbor Lights Entertainment. This transaction, valued at approximately $30 million, encompasses cinemas situated in both the northeastern and midwestern regions of the United States. According to the Hollywood Reporter, Harbor Lights Entertainment is the successor to National Amusements, a company previously overseen by the Redstone family. The Ellison family now controls this entity, which has decided to shed its cinema holdings. This divestiture marks a significant shift for the Ellison family's involvement in the cinema exhibition business. The acquired theaters are expected to be incorporated into Kinepolis' existing operational framework, expanding its footprint in the American market. The deal represents a strategic move for Kinepolis, allowing the company to broaden its presence and reach more moviegoers in key U.S. territories. The acquisition is anticipated to bring Kinepolis's operational model and technology to these newly acquired locations. The Redstone family, through National Amusements, maintained a considerable influence in the entertainment sector for many years, including ownership of ViacomCBS (now Paramount Global). The transition of control to the Ellison family through Harbor Lights Entertainment and subsequent sale of the cinema division indicates a new direction for these assets.