Cineworld to buy Regal Entertainment for $3.6 Billion

Movie theater company Cineworld announces it is buying Regal Entertainment in a deal worth $3.6 billion.

CNN Money reports that the takeover will create the world's second-largest movie chain based on number of screens, with 9,500 in theaters across 10 countries.

Cineworld Group is based in Europe, but is actually smaller than takeover target Regal, which is based in Tennessee.

The current largest movie theater company is AMC which has 11,000 screens across the U.S. and Europe.

Regal recently purchased the Warren Theaters in Wichita. No word yet what impact this will have on the operation of the theaters in Wichita.