A deal under which Cinemark Holdings Inc. would buy Rave Cinemas LLC, the dominant theater chain in the Toledo area with three cinema complexes, is still on hold while the U.S. Justice Department continues to review it for any potential antitrust conflicts.
The acquisition was announced Nov. 16 and involves the sale of 32 theaters — a total of 483 screens — in 12 states. At the time, Cinemark and Rave were told the antitrust review could take three to six months, but likely would be done by the end of March.
But Chanda Brashears, a spokesman for Texas-based Cinemark, said Friday the process appeared to have been somewhat delayed by preparations for the Jan. 20 inauguration of President Obama.
Ms. Brashears said Cinemark anticipates approval by no later than next month. “We could have news by the end of this month, but it may be mid-May” before a decision, she said.