Adjusted EBITDA may not be comparable to similarly titled measures reported by other companies.Р”В¬inemark is a leading domestic and international motion picture exhibitor, operating 461 theatres with 5,207 screens in 39 U.S. Adjusted EBITDA is a non-GAAP financial measure commonly used in our industry and should not be construed as an alternative to net income as an indicator of operating performance or as an alternative to cash flow provided by operating activities as a measure of liquidity (as determined in accordance with GAAP). (1) Adjusted EBITDA as calculated in the chart above represents net income before income taxes, interest expense, depreciation and amortization, and deferred rent expense. Reconciliation of Net Income to Adjusted EBITDA AGM Partners, LLC and Kirkland & Ellis LLP served as financial and legal advisors, respectively, for the seller. Cinemark intends to fund the acquisition through the use of available cash, borrowings under its credit facilities, proceeds from the issuance of additional debt securities or a combination of the foregoing.Р”Р„kin Gump Strauss Hauer & Feld LLP served as legal advisors for Cinemark.

'I am confident that under Cinemark's leadership, Rave's exceptional quality and customer service will be taken to an even higher level.'Р”В¬ompletion of the acquisition is subject to the satisfaction of customary closing conditions for transactions of this type, including Department of Justice or Federal Trade Commission antitrust approval. Rave associates and field partners have worked hard to build a top-notch circuit, and Cinemark is well known as one of the best in the business,' said Rolando Rodriguez, President and CEO of Rave Cinemas.

'We are excited about the opportunity to bring these two great companies together. (1) See below for reconciliation of net income to Adjusted EBITDA Below is a summary of certain estimated unaudited historical financial data (in millions) for the 32 theatres being purchased for the trailing twelve-month period ended September 27, 2012:

The assets to be acquired also include 7 IMAX screens and 9 premium large format auditoriums. 'The acquisition of these high quality assets will further enhance Cinemark's diversified domestic footprint, including the expansion of our presence in the New England market,' stated Tim Warner, Cinemark's Chief Executive Officer.Р”Р„ll 483 screens to be acquired are fully digital and 37% of the screens are 3D capable. The purchase price, the amount of which is subject to certain closing date adjustments, will consist of cash consideration and the assumption of certain liabilities. ('Cinemark') ( NYS: CNK), one of the largest motion picture exhibitors in the world, and Rave Real Property Holdco, LLC, an affiliate of Rave Cinemas ('Rave'), today announced that they have entered into an asset purchase agreement pursuant to which Cinemark will acquire substantially all of the assets of Rave, primarily consisting of 32 theatres located in 12 states, representing 483 screens, for a purchase price of approximately $240 million. PLANO, Texas-( BUSINESS WIRE)- Cinemark USA, Inc., a wholly-owned subsidiary of Cinemark Holdings, Inc. Cinemark to Acquire 32 Theatres from Rave Cinemas

Rolando rodriguez rave