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UK: Cineworld’s buyout may yield unhappy ending

By  |  August 21, 2013
UK: Cineworld’s buyout may yield unhappy ending

Silver screen giant Cineworld heard bad news regarding its recent acquisition of rival City Screen Limited, the operator of Picturehoues theatre group, say reports. The UK’s Competition Commission said it may require Cineworld to divest three theaters in three geographical locations following the buyout to ensure its dominance does not negatively affect competition. Two other locations that came under question by the watchdog were found to not negatively impact competition in the areas enough to require Cineworld to sell theatres. Cineworld chief executive Stephen Wiener called the news “disappointing,” claiming competition with Picturehouse should not impact Cineworld theatres as the two companies have different markets.

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