Local Theater Sold

The Regency 11 Stadium Theater in Panama City will soon have a new owner.

Regal Entertainment Group, the country's largest motion picture company, is expanding its presence in the southeast with a $127.6 million cash deal for The Regency on 23rd Street and 21 other theaters from North Carolina-based Eastern Federal Theatres.

Regal currently owns and operates 6,264 screens in 553 theaters in 40 states.

That's about 18 percent of all indoor screens in the United States. They operate under the Regal Cinemas, United Artists and Edward’s Theatres brands.