National CineMedia reported fiscal second quarter revenue of $58.4 million, a 12.7% increase year-over-year, driven by strong box office momentum and operational execution that delivered $2.7 million in cost savings. The company announced a definitive agreement to acquire Captivate Holdings for an enterprise value of $275.0 million, funded entirely with new committed term debt. This transaction is expected to close in the second half of 2026 and will create a leading premium video and digital out-of-home advertising platform with over 48,000 screens across 185 designated market areas. In connection with the acquisition and resulting leverage, National CineMedia has paused its quarterly dividend program. The company operates the largest cinema advertising platform in the U.S., connecting brands to audiences through movie theater screens.

National CineMedia, Inc. agreed to acquire 100% of Captivate Holdings, LLC for an enterprise value of $275.0 million in cash. The transaction is financed via a $275.0 million senior secured term loan and a $25.0 million revolving credit facility committed by Crestline Management and Encina Commercial Finance. Expected to close in the second half of 2026, the acquisition combines NCM's cinema advertising network with Captivate’s digital video elevator and lobby advertising platform across North America. The combined entity will operate over 48,000 screens in 185 Designated Market Areas. To prioritize debt reduction following the transaction, National CineMedia is pausing its dividend and share repurchase programs. National CineMedia operates as the largest cinema advertising platform in the U.S., connecting brands with audiences through movie theater screens.