Rave Cinemas

Rave Cinemas, formerly known as "Rave Motion Pictures," often called Rave and owned by Rave Cinemas, LLC, is a movie theater brand founded in 1999. It is formerly headed by Thomas W. Stephenson, Jr., former CEO of Hollywood Theaters, and currently headed by Rolando B. Rodriguez, former Vice President and Regional General Manager for Walmart in Illinois and northern Indiana. The company is based in Dallas, Texas.

Rave Cinemas, LLC was formed in late 2009 by TowerBrook Capital Partners L.P and investors Lambert Media Group and Charles B Moss, Jr. Rave Cinemas then acquired four properties, corporate infrastructure and leadership, and the Rave Motion Pictures brand from Boston Ventures owned Rave Reviews Cinemas, LLC (RRC). RRC continues to own 21 other properties which will operate under the "Rave Motion Pictures" branding under a management services agreement with Rave Cinemas, LLC. Concurrently with the RRC acquisition, Rave Cinemas, LLC, purchased the business operations and real estate of 35 properties owned by National Amusements, Inc. (NAI), parent company of Viacom and CBS Corporation. The former NAI assets were rebranded "Rave Motions Pictures" in the second quarter of 2010.

In October 2012, Rave Cinemas, signed an agreement to sell 16 theaters with 251 screens to Carmike Cinemas for $19 million in cash and $100.4 million of assumed lease obligations. Of the 16 theaters being acquired, six are in Alabama, four in Florida, two in Indiana, and one each in Illinois, Pennsylvania, Tennessee and Texas. Before the sale Rave owned or managed 62 theaters and 939 screens located in 21 states across the country.

As of November 2012, Cinemark has entered into an agreement to purchase 32 Rave Cinema locations for $240 million. The sale is subject to antitrust approval. Only 9 locations will remain under the Rave Cinemas umbrella after the Cinemark sale is complete, however there much speculation within the industry that these remaining 9 locations will either be sold or shuttered.

On November 27, 2012, AMC Theatres entered into an agreement to purchase 4 Rave Cinemas theaters not purchased by Carmike Cinemas or Cinemark. Of the 4 theaters being acquired, two in Louisiana, and one each in Alabama and Florida.

The company also co-owns "Rave Digital Media" along with Continental Retail Development, with headquarters in Columbus, Ohio, and operates four properties under the "Rave Digital Media" brand.