Belgian-based Kinepolis, a top European theater operator, agreed to acquire 13 Showcase Cinemas in the U.S. from Harbor Lights Entertainment (formerly National Amusements Inc.) in a deal worth $30 million.
National Amusements was the start of the Redstone family media empire, launched by Sumner Redstone’s father as a single Rhode Island drive in and later expanded and run for years very capably by Shari Redstone. The theaters are upscale with multiple premium large format screens and most auditoriums stadium style with recliner seating. The chain was owned alongside Paramount by the Redstone family’s holding company, acquired by the Ellisons family and RedBird Capital from Shari Redstone last August.
The new owners had always planned to unload the theaters. They will be evaluating their entire real estate portfolio and other assets may go on the block as Par’s debt will pop dramatically in its planned merger with Warner Bros. Discovery.
The deal includes seven theaters in Massachusetts, four in New York, one in Ohio, and one in Rhode island. For six of the locations, National Amusements owned the real estate, with the others operating under lease agreements.
Kinepolis, whose portfolio will grow by 164 screens representing 17 794 seats, said it expects to close by late summer on the “well-maintained, high-end” theaters that had circa 4 million customers in 2025 and generated $90+ million in revenue.
“This acquisition allows us to expand our market position in the US from Michigan to the East Coast with an asset and a team that enable us to implement Kinepolis’ operational model and corporate strategy, ultimately enhancing the experience for moviegoers in these markets. Furthermore, this acquisition provides a valuable real estate position, with future opportunities for further redevelopment and optimization,” said Kinepolis CEO Eddy Duquenne.
The acquisition has an enterprise value of $30 million (which includes debt), largely covered by the substantial real estate value theaters. In 2025, Showcase was cash flow break-even from its theaters.
Kinepolis will keep the Showcase Cinemas brand name.
Kinepolis Group operates 63 cinemas in Europe across Belgium, the Netherlands, France, Spain, Luxembourg, Switzerland and Poland. It also runs 35 cinemas in Canada and 24 in the U.S. That’s 122 cinemas and 1,314 screens worldwide.
