Regal Entertainment Group, which reported lower third-quarter sales and profit, said that it’s considering strategic options including the sale of the company, the largest U.S. cinema chain, Bloomberg News reported yesterday. Regal, controlled by billionaire Philip Anschutz, retained Morgan Stanley to advise the board on “a thorough review of options,” according to a statement today. The company has a market value of $3.2 billion and total debt of $2.36 billion. A sale would mark the biggest deal yet in an industry that’s been consolidating for years. That’s included large operators buying family owned cinemas struggling to upgrade their circuits with digital technology and larger screens. Exhibitors have also attracted foreign investors. AMC Entertainment Holdings Inc., the No. 2 chain, was purchased by China’s Dalian Wanda Group in 2012 and went public last year.
