Owner of Cobblestone, Wynnsong Theaters Buys Rave Cinemas Chain

The company that owns both the Cobblestone Theaters in Urbandale and the Wynnsong 16 theaters in Johnston.

According to a recent press release from Carmike Cinemas, the national theater chain is purchasing the Rave Reviews Cinemas, which as 16 theaters totaling 251 screens in seven states. The Rave theaters are in Alabama, Florida, Indiana, Illinois, Pennsylvania, Tennessee and Texas.

The release says the Carmike Theater company paid $19 million in cash and assumed $100.4 million in lease obligations as part of the agreement. 

"The addition of these 16 state-of-the-art theatres and 251 screens from Rave is a key, opportunistic development," said Carmike Cinema president and CEO David Passman. "We also look forward to enthusiastically welcoming the Rave associates at these theatres to the growing Carmike family."

In August, Carmike made news when a bomb threat was called in to the corporate headquarters. Both the Urbandale and Johnston theaters were searched as a precaution, and nothing suspicious was found.