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East Coast company to buy Apple Valley theater
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APPLE VALLEY • The show must go on.
That's the attitude of employees at the Ultrastar movie theater in Apple Valley, who discovered on Friday that a new company is just about to seal the deal on the purchase of the theater.
With nine theaters on the East Coast, Digital Cinema Destinations’ purchase of the Bear Valley and Central roads Apple Valley 14 theater, along with six more Ultrastar-owned locations, is a big move for the company based in New Jersey.
“The transaction is still in process and should be wrapped during the next week,” John Halecky, director of marketing and communications, said via email Saturday.
The acquisitions, with a total price tag of approximately $13 million, are part of a new joint venture between Start Media and Digiplex, which joined forces recently to form Start Media/Digiplex, LLC.
Digiplex Chairman and CEO Bud Mayo said the purchase of the theaters is a logical step for Digiplex, as it works to expand the company’s footprint across the country, according to a Digital Cinema press release.
The San Diego County-based Ultrastar, which has 14 theaters in Southern California and Arizona, opened the local 14-screen complex in December 2007 after months of failed inspections.
“We are very pleased about reaching this mutually beneficial acquisition agreement with Digiplex,” Alan Grossberg, CEO of UltraStar, said in the release. “They are very well-respected pioneers of digital cinema and have developed an intriguing and ambitious growth strategy.”
The move comes on the heels of the city of Hesperia’s ribbon cutting for its new multi-screen Civic Plaza 12 complex on Wednesday.
Digital Cinema provides state-of-the-art digital technology in movies, and offers alternative content such as live sports events, concerts, conferences, operas, ballet and Broadway shows according to the company website.
Through its operating subsidiary Wayfare Entertainment, Start Media is a privately held media company with interests in feature film production and financing, content discovery technology and publishing.
More information can be found online at www.digiplexdest.com.
Rene De La Cruz may be reached at (760) 951-6227 or at RDeLaCruz@VVDailyPress.com.
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