May 18, 2013
A Local 8 Weather Alert has been issued for today. Because of the threat of rain, thunder and even hail, outdoor activities may be disrupted or inconvenienced. What's going on? An upper-level low will be moving across East Tennessee today, creating a more unstable atmosphere.
Regal Entertainment Group, the nation's largest film operator, based in Knoxville, is reporting earnings of $29.3 million for the third quarter, compared to $17.2 million, for the same period in 2005.
Executives say the company also expects to receive between $400 million and $425 million in net proceeds from the initial public offering of National CineMedia Inc., the sales and marketing arm of Regal, AMC Theatres and Cinemark USA.
Regal's total revenue for the quarter was $675.7 million, a 7.5 percent increase over last year's third-quarter total of $628.4 million.
