Hagerstown, Maryland: New Vision Theatres, a 17-unit theatre circuit has come to terms with HighRock Group, a privately held holdings company, to assume ownership of the assets of Leitersburg Cinemas, a 10-screen movie theatre located in Hagerstown, MD. Financial terms of the pending sale were not disclosed, but closing is anticipated for later this year subject to usual conditions. No interruption in service is expected.
“When we formed Leitersburg Cinemas, LLC in early 2010, our goal was to breathe new life into a local landmark” says Rich Daughtridge, President and CEO of HighRock Group. “Over the last seven years, we’ve poured our heart and soul into creating a place where the community could make memories and share their love of movies. Looking long-term, we knew major building upgrades and facility renovations would be needed, and this would have been a challenge for us. When a larger, but like-minded theatre operator approached us with the offer, we realized they could take Leitersburg Cinemas to a level we couldn’t. It’s bittersweet for our team, but it’s exciting to know the legacy will continue long into the future.”
As part of the proposed deal, the new company will also assume ownership and operations of Waynesboro Theatre, a 1-screen movie theatre located in downtown Waynesboro, Pennsylvania. Through the continuing partnership with the Waynesboro Theatre Community Project, the theatre will also continue operations without interruption.
Daughtridge stated, “Both Leitersburg Cinemas and Waynesboro Theatre have an important role in the community - it's not just about the movies, but about the familiar faces, the special events, and the local partnerships we've made with our hometown. I’m excited to see the next chapter of growth for our local entertainment landmarks.”
For more information, contact Melody Belotte, Director of Marketing, HighRock Group, 301-791-1221 ext. 105 or firstname.lastname@example.org.