Heritage Entertainment Inc. has reached an agreement...

Heritage Entertainment Inc. has reached an agreement in principal to purchase Seven Gables Corp., which includes acquisition of Renaissance Entertainment Inc., as well as the private purchase of all the preferred stock in parent company Specialty Theatres Inc. Seven Gables owns 34 screens in Seattle and Portland, Ore. Heritage had also recently agreed to acquire Landmark Theatre Corp. Heritage is primarily in the business of producing and distributing television and motion pictures. The combination of Heritage, Landmark and Seven Gables will create a theater circuit that is among the nation’s 40 largest chains.