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The purchase, announced Monday, will give Bow Tie the largest number of theaters in the New York metropolitan area and make it the eighth largest motion picture exhibitor in the country, according to a statement from the Ridgefield company. It will boast 388 screens in 63 locations across seven states.
Cablevision bought Clearview in 1998. It will now sell 41 of its theaters to Bow Tie Cinemas when the "definitive" transaction is expected to close in the coming months, the company said. At that time, the four-generation, 100-plus-year-old movie company said in a statement it intends to introduce digital projection and 3D installations. Other upgrades may be made to the customer loyalty programs.
“This is a transformational acquisition for Bow Tie Cinemas and an exciting new chapter in our company’s rich history,” Ben Moss, CEO of Bow Tie Cinemas, said in a statement. “Going to the movies is a tradition deeply rooted in the local community. Bow Tie makes long-term commitments in the communities where we own theaters by building local partnerships, employing local people and engaging with our patrons. Our mission is to return style and elegance to the movie-going experience, and we look forward to applying the same approach at our newly acquired locations.”
In Connecticut, Bow Tie Cinema owns Wilton Cinema 4 in Wilton, Royale 6 in Norwalk near Westport, Majestic 6 in Stamford, Landmark 9 in Stamford, Regent 8 in South Norwalk, Playhouse in New Canaan, and Criterion Cinemas at Greenwich Plaza in Greenwich, among others.
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