Here's the email that Keresotes sent out:
Dear Five Buck Club Member of City North 14 and Webster Place,
I wrote you recently about AMC's acquisition of the Kerasotes Theatres. In a subsequent transaction, AMC has sold the City North 14 and Webster Place to Regal Cinemas. Regal will take over management of these two locations effective May 25, 2010.
We have been asked by Regal to inform you that they will not be honoring Five Buck Club cards after they assume operation of these locations on May 25, 2010.