BLOOMFIELD HILLS, Mich. (WWJ) -- A local theatre chain plans to continue operating under current management after selling to a European-based cinema company.
The Bloomfield Hills-based MJR Digital Cinemas is set to be purchased by the Belgian company Kinepolis by the end of 2019.
The deal, announced Monday in a news release, is still still subject U.S. antitrust clearance, but would see all 10 of MJR's theatres across the state become controlled by Kinepolis. The Belgian company has owned Canada-based Landmark Cinemas for nearly two years as the company continues to expand its presence in North America.
MJR, established in the 1980s, has several locations in the metro Detroit area, totaling 164 screens at all locations. The company will continue to operate under the same name.
Reuters is reporting that the deal is worth just over $150 million dollars.