National Amusements UK for sale
The three major cinema chains in the UK have submitted first round bids for National Amusement’s Showcase Cinemas.
The three leading cinema chains in the UK – Odeon, Cineworld and Vue – which control almost three-quarters of the market, have all submitted first round bids for some of the 21 UK cinemas put up for sale by Sumner Redstone, the US media magnate.
An outright purchase by any one of the cinema operators would face thorny UK competition issues but the chains are hoping they can parcel up the assets between them.
Read the full story in the Financial Times.(reg rqr’d)