MUVICO SELLS FOUR THEATERS AS PART OF RESTRUCTURING PLAN

FORT LAUDERDALE, FLA. — As part of a restructuring plan, Fort Lauderdale-based Muvico Theaters has sold four theaters to Plano, Texas-based Cinemark USA for an undisclosed amount. The cinemas include Muvico Palace 20 in Boca Raton, Fla.; Muvico Boynton 14 in Boynton Beach, Fla.; Muvico Paradise 24 in Davie, Fla.; and Muvico Egyptian in Hanover, Md. Cinemark will rebrand the properties. The restructuring also includes owner Jospeh Amaturo’s decision to increase his investment in the company by an undisclosed amount. Using the capital from the sale and Amaturo’s investment, Muvico will upgrade its existing 10 facilities, adding amenities like interactive gaming and dining options. The company will also soon start constructing new properties in Fredericksburg, Va., and Coconut Grove, Fla.