A California company said it will pay $69.3 million for 15 theaters in Hawai'i and California owned by the parent of Consolidated Theatres.

In a filing with the Securities and Exchange Commission yesterday, Reading International Inc., which largely operates cinemas in Australia and New Zealand, said the price for the Consolidated theaters was reduced from $72 million.

The deal, which was first announced in October, originally was set to close at the end of 2007, but Reading said the closing date has been pushed back to Friday.

Reading said its purchase will be partially financed by the seller. Pacific Theatres has agreed to lend the buyers $21 million and provide a $3 million line of credit, Reading said in its SEC filing.

Officials at Reading and Pacific Theatres could not be reached for immediate comment.

Pacific Theatres previously declined to identify the locations of individual cinemas being sold but said the theaters were outside the Los Angeles region. Outside Los Angeles, Pacific Theatres operates 181 screens at 15 cinemas.

In Hawai'i, Pacific Theatres is the dominant player, with nine locations and 98 screens, all under the Consolidated brand.

Consolidated Theatres' history in Hawai'i dates to the 1917 founding of affiliate Consolidated Amusement Co. Pacific Theatres, founded in 1946 by William Forman, acquired Consolidated in 1959.

In August, Consolidated closed the Aikahi Twin cinema in Kane'ohe. That came after the company closed the Varsity Twin Cinema in Mo'ili'ili in June and exchanged the property with Kamehameha Schools for the 14-acre Kamehameha Drive-In property in 'Aiea.

Reach Rick Daysog at rdaysog@honoluluadvertiser.com.