{"schema_version":"secwatch.filing_event.v1","accession":"0001193125-25-283977","form_type":"8-K","ticker":"NCMI","cik":"0001377630","company_name":"National CineMedia, Inc.","filed_at":"2025-11-17T23:59:59+00:00","discovered_at":"2026-05-14T18:02:39.258947+00:00","generated_at":"2026-05-16T19:09:43.725957+00:00","sec_items":["7.01","9.01"],"event_type":"m_and_a","sentiment":"positive","materiality_score":0.7,"calibrated_materiality_score":0.7,"confidence":"high","headline":"NCM acquires Spotlight Cinema Networks; adds ~6% market share, expands NY/LA 30%","bullets":["Acquired Spotlight Cinema Networks, the only U.S. cinema ad firm serving luxury/art house exhibitors.","Increases NCM's national market share by ~6% and expands NY+LA theater presence by 30%.","Purchase multiple of 4.5x pro forma EBITDA; expected to be accretive with full run-rate synergies by end of 2026.","Spotlight's partners include Cinépolis Luxury Cinema, Landmark Theatres, Flix Brewhouse, and LOOK Dine-In Cinemas."],"urls":{"canonical":"https://secwatch.observer/filing/0001193125-25-283977","json":"https://secwatch.observer/filing/0001193125-25-283977.json","markdown":"https://secwatch.observer/filing/0001193125-25-283977.md","text":"https://secwatch.observer/filing/0001193125-25-283977.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1377630/000119312525283977/0001193125-25-283977-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1377630/000119312525283977/ncmi-20251117.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-16T19:09:43.725957+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}