- Share this article on Facebook
- Share this article on Twitter
- Share this article on Flipboard
- Share this article on Email
- Show additional share options
- Share this article on Linkedin
- Share this article on Pinit
- Share this article on Reddit
- Share this article on Tumblr
- Share this article on Whatsapp
- Share this article on Print
- Share this article on Comment
LONDON – U.K. exhibition chain Cineworld’s $76 million purchase of City Screen Group, the parent company of arthouse movie theater operator Picturehouse Cinemas, is to be investigated by British competition authorities.
Cineworld, listed here on the stock exchange, told the market the local Office of Fair Trading has referred the buyout to the Competition Commission “because of concerns that it may reduce local competition in certain areas.”
Cineworld, the U.K.’s second largest exhibition chain, said it will assist the Competition Commission with its investigation.
Before the deal was struck, Cineworld operated 80 sites, of which 77 are multiplex sites with five screens or more.
The deal adds 21 sites and 60 screens to Cineworld’s real estate and also Picturehouse Entertainment, the distribution arm operated by the group.
THR Newsletters
Sign up for THR news straight to your inbox every day