Chris Katje
Research analyst, growth, value, IPOs

National Cinema Media Undervalued With Chinese JV, Spin-Off, And Cord Cutting Shift

National Cinema is a unique partnership between the three largest theater companies in the United States. The company is the operator of the largest digital in-theatre network in North America. As of September 19th, the following ownership percentages were held by the three theaters:

· Cinemark (NYSE:CNK): 19.6%

· Regal Entertainment (NYSE:RGC): 17.9%

· AMC Theaters: 15.5%

The company offers:

· 183 designated market areas

· 49 of top 50 United States markets

· 19,600 movie theater screens, including 18,800 digital

· 710 million movie viewers (in 2012)

· Fathom Events in 750 locations

National Cinema Media (NASDAQ:NCMI) owns 45.1% of the current business. That amount is set to increase soon, as current owner...

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