By Zachariah Bryan
If you take the carpool exit in Federal Way on your commute, something may have been amiss from your daily routine. The sign for the Gateway Movies 8 theater — formerly known as the Galaxy 8 $2 theater — didn’t have any movie titles displayed on it.
Instead, it said something along the lines of, “Check us out at www.amctheatres.com.”
That’s because the owner of Gateway 8, Texas-based Starplex Cinemas, was acquired last July by AMC Theatres in a $172 million transaction. The deal, which encompassed 33 theaters with 346 screens across 12 states, was finalized in December. Now, the Federal Way theater is now called the AMC Gateway 8.
“This transaction adds a number of complementary non-urban and suburban markets to our portfolio, allowing us to serve a wider spectrum of guests while broadening our movie going appeal” said AMC Interim CEO Craig Ramsey in a December statement. “We believe that through this transaction, we’ve created value for guests and shareholders through the deliver of innovative new amenities which is expected to deliver incremental revenue, earnings and operating cash flow and to position us for further growth.”
Galaxy 8 was originally acquired by Starplex Cinemas in 2005, when former owner Mirror Galaxy Cinemas left, citing the bankruptcy proceedings of Gateway Center and potential competition from the incoming theater at the Federal Way Commons mall, according to the Federal Way Mirror.
AMC spokesman Ryan Noonan said no additional changes are planned for the Gateway 8 theater at this time. Except now you’ll have to look at movie listings (still featuring $2 matinee tickets) on the AMC website, instead of the sign.