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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934
Date of Report: November 3, 1998
(Date of earliest event reported)
SILVER CINEMAS INTERNATIONAL, INC.
(exact name of registrant as specified in its charter)
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DELAWARE Commission File Number: 72-2656147
(State or other jurisdiction (I.R.S. Employer Identification
of incorporation or No.)
organization)
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4004 BELTLINE ROAD
SUITE 205
ADDISON, TEXAS 75001-4363
(Address of Principal executive offices, including zip code)
(972) 503-9851
(Registrant's telephone number, including area code)
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ITEM 5. OTHER EVENTS
On November 3, 1998, Silver Cinemas International, Inc. (the
"Registrant") disseminated a press release, a copy of which is filed herewith as
Exhibit 5.1. The press release discloses the fact that Brentwood Associates and
certain members of management of the Registrant purchased equity of the
Registrant for approximately $7.5 million.
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ITEM 7. FINANCIAL STATEMENT AND EXHIBITS.
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EXHIBIT
NO. DESCRIPTION
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5.1 Press Release dated November 3, 1998
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized,
SILVER CINEMAS INTERNATIONAL, INC.
Date: November 3, 1998 By /s/ STEVEN L. HOLMES
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Name: Steven L. Holmes
Title: Chief Executive Officer and
Chief Financial Officer
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EXHIBIT INDEX
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SEQUENTIALLY
EXHIBIT NUMBERED
NO. DESCRIPTION PAGE
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5.1 Press Release dated
November 3, 1998
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EXHIBIT 5.1
Contact:
Steve Kauzlaric
Vice President, Treasurer
Silver Cinemas International, Inc.
(972) 503-9851
For Immediate Release
SILVER CINEMAS INTERNATIONAL, INC. ANNOUNCES ADDITIONAL ACQUISITIONS AND
CONSTRUCTED THEATERS
Dallas, Texas, November 3, 1998 - Silver Cinemas International, Inc. Monday
announced the pending acquisition of a four-screen theater in Texas. In
addition, the Company announced the signing of two leases for new theaters to be
constructed in Chicago and Washington, DC. The acquisition is expected to close
prior to year end, and the new theaters are expected to finish construction in
1999. The three theaters will be operated as art theaters, and the 19 screens
added will increase the Company's market leading position in that segment.
Silver Cinemas also reported that financial sponsor Brentwood Associates and
certain members of Silver Cinemas management team invested an additional
approximately $7.5 million in equity in the Company. The equity investment was
made in order to capitalize on the increasing demand for independent and
specialty films through the construction of art theaters in prime locations
throughout the United States. The Company has already opened two new art
theaters this year in St. Louis, Missouri and Waltham, Massachusetts and expects
to complete the construction of several additional theaters by the end of 1999.
Silver Cinemas, through its Landmark Theatre Division, is the largest exhibitor
of specialty motion pictures and one of the largest operators of second run
theaters in the United States. The Company currently operates 105 theaters with
534 screens located in 18 states.
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This press release includes forward-looking statements that involve a number of
risks and uncertainties. Factors that could cause actual results to differ
materially from those reflected in the forward looking statements include, but
are not limited to, adverse developments in economic factors influencing the
exhibition industry, inability to complete the construction of new theaters, or
lack of demand for art films by the general public.
