Cineworld in talks to buy Regal Entertainment

Britain’s Cineworld Group is in talks to purchase Regal Entertainment Group, the movie-theater chain controlled by billionaire Philip Anschutz, for more than $3 billion to double its size and create a bigger international rival to industry leader AMC Entertainment Holdings Inc.

The companies are negotiating a price for Regal of $23 a share, they said in separate statements, confirming earlier reports by Reuters and Bloomberg. The talks could still fall apart, the companies said.