ATLANTA (CNN) - AMC Entertainment Inc. and Loews Cineplex Entertainment Corp. announced Tuesday that they have agreed to merge.

The merged company, to be called AMC Entertainment Inc., will be headquartered in Kansas City, Mo., and will own, manage or have interests in about 450 theaters with about 5,900 screens in 30 states and 13 countries, the companies said in a statement.

Peter Brown, AMC chairman, chief executive officer and president, will maintain that role.

"This merger is a combination of the oldest and most respected names in the business -- AMC and Loews," said Brown. "The transaction provides us with a unique opportunity to blend the best practices of two remarkable organizations as we create an extraordinary company."

Completion of the merger, expected in six to nine months, is subject to antitrust approval and completion of financing.

The merger agreement also provides for the merger of their respective holding companies, Marquee Holdings Inc. and LCE Holdings Inc., with Marquee Holdings, which is controlled by affiliates of J.P. Morgan Partners LLC and Apollo Management LP, continuing as the holding company for the merged businesses.

Shares of Loews (down $0.47 to $79.02, Research) edged lower in early afternoon trading on the New York Stock Exchange.

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