Shakeup due for London cinemas as Cineworld and Empire announce major new deal

Empire and Cineworld have just announced a deal that looks like it will shake up the arrangement of some of London's key cinema sites. Cineworld has just confirmed a $124m deal for five Empire cinemas including the nine-screen Empire Leicester Square. However as part of the deal, Cineworld's three-screen Haymarket location will be taken over by Empire.

Apart from the prestigious nine-screen Empire Leicester Square location in London’s West End, the other sites are the 18-screen multiplex in Basildon, the 17-screen Hemel Hempstead site, the 16-screen multiplex in Poole and a four-screen location in Bromley. They will re-branded as Cineworld locations.

Cineworld CEO Mooky Greidinger commented on the acquisition: “[This deal] underscores our commitment to operating high quality and modern cinemas across all of our nine operating countries, and our mission to be the best place to watch a movie."

Empire chairman Thomas Anderson said: “[Cineworld’s] reputation as good operators gives me confidence in a bright future for the cinemas and their employees, and as a shareholder in Cineworld, I trust the company’s ownership will enable it to maximise the value of these premium assets as part of its continued growth.”

You can read more here.

 

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