---
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"
generated_at: "2026-05-16T19:09:43.725957+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# NCM acquires Spotlight Cinema Networks; adds ~6% market share, expands NY/LA 30%

## Summary
- 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.

## SEC filing metadata
- 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
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 7.01, 9.01
- 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

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-25-283977
- JSON: https://secwatch.observer/filing/0001193125-25-283977.json
- Plain text: https://secwatch.observer/filing/0001193125-25-283977.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.