Red Bank’s Clearview Cinemas theater may be getting a new owner.
The two-screen White Street arthouse, a favorite of local fans of indie films, is presumably among the assets expected to be acquired by a century-old, family-owned theater chain in a deal announced earlier this week.
Bow Tie Cinemas, a company with roots in the nickelodeon and Vaudeville eras, said in a press release issued Monday that it would acquire “substantially all of the Clearview Cinemas theaters” from Cablevision Systems.
Following the close of the transaction, Bow Tie intends to make a substantial investment in the newly acquired Clearview theaters, including Chelsea Cinemas, to fund key upgrades that are designed to enhance the movie-going experience for customers, including: digital projection and 3D installations, concession stand upgrades, decorative improvements, and point of sale technology that will allow Bow Tie to enhance its customer loyalty programs.
Clearview leases its Red Bank space from property owner Philip J. Bowers & Company, based in Tinton Falls.