Playing movie monopoly: Chicago and the Loews-AMC merger
Daily Variety reports that the merger of theater chains AMC and Loews will be approved by the Justice Department, with the condition that 6 theaters are sold, two each in San Francisco, DC and Chicago. Quotes Variety, "The divestures required by the department will ensure that competition at movie theaters in the affected parts of Chicago, New York, Boston, Seattle and Dallas is preserved," said Thomas Barnett, the acting assistant attorney general in the DOJ's antitrust division." The Feds also said "that without the divestitures, AMC and Loews would control 100% of the Chicago North, downtown Seattle and downtown Boston markets."
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