Warner Brothers exits from China’s movie theater market

posted by Michael Zoldessy on November 16, 2006 at 6:30 am

After years of holding a stake in numerous theater operations, Warner Brothers is letting go of its interests in China.

Warner Brothers International Cinemas (WBIC) has decided to pull out of six movie theatres it currently runs with Chinese partners, citing “major regulatory changes.”

The WBIC, a subsidiary of the US media giant Time Warner, has ceased investment in China’s movie theatre market due to major regulatory changes, ‘Beijing News’ reported, quoting a company announcement.

The Chinese government in 2005 barred foreign investors from holding majority stakes in joint ventures in the entertainment sector.

For more, visit the Hindu News Update.