Centennial-based operator of in-theater ads seeks IPO

By The Denver Post Staff

Article Last Updated:10/12/2006 11:12:44 PM MDT

Centennial-based National CineMedia Inc., which operates an in-theater advertising network, said late Thursday that it filed a registration statement for an initial public offering.

Proceeds from the offering will allow the company to acquire an equity interest in and become the sole manager of National Cine Media LLC, which is currently a venture of AMC Entertainment Inc., Cinemark USA Inc. and Regal Entertainment Group.

The company's registration statement was not immediately available Thursday night, and the company declined to comment beyond its original news release.

National CineMedia operates its advertising network in 13,095 theaters in 45 states, according to its website. The company annually reaches more than 550 million moviegoers, representing roughly one-third of all movie ticket sales in the United States.

The IPO market was generally stronger earlier in the year, but demand remains strong for companies with visible top-line revenue growth, said Francis Gaskins of IPODesktop.com.

Three companies - Hexion Specialty Chemicals Inc., El Pollo Loco Holdings Inc. and Light Sciences Oncology Inc. - withdrew or postponed their IPOs indefinitely Thursday.

KRISTI ARELLANO