Cineplex will acquire a Northwest theater chain.

Cineplex Odeon, based in Toronto, said it will pay $45.5 million to acquire the 99-screen indoor movie theater circuit from Sterling Recreation Organization as well as its 15 drive-in screens. Seattle-based SRO operates theaters in Tacoma, Tri-Cities, Spokane and Bellingham, Wash., and is currently building a complex in Portland, Ore. Cineplex Odeon President Garth Drabinsky said the company will have no difficulty financing the acquisition from its existing credit line and noted that Cineplex will not assume any SRO liabilities.