OMC sale postponed

World Brief

The privatization of Norway’s largest cinema circuit, Oslo Municipal Cinemas, will be delayed.

Cultural councilor Kjell Veivåg is expected this week to recommend to the Oslo City Council that the sale of 66% of the company’s shares be postponed after the city declined three bidders –allegedly Sweden’s Sandrew Metronome, Denmark’s Nordisk Film and Norway’s Kino 1, offering between $2.7-$3.4 million.

Veivåg believes the municipality should not be the sole owner of OMC, which accounts for 30% of the country’s theatrical business but needs $1.7 million a year for rent.

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