Warner and Village now share Italian chain
LONDON — Focus Partnership has sold its 10% stake in Italian exhib chain Warner Village Cinemas to its partners Warner Bros. Intl. Cinemas and Village Cinemas, which now each own 50% of the business.
“With Focus, we were able to build a thriving and robust Italian exhibition business,” said WBIC president Millard Ochs. “We’ll continue to operate and expand our Italian cinema business and look forward to being a vital part of this exciting market.”
Warner Village Cinemas operates 14 cinemas in Italy, with a total of 146 screens and more than 33,000 seats.
“Warner Village Cinemas is the No. 1 cinema circuit in Italy, drawing 10 million admissions yearly,” said Ettore Rosboch, president of Focus. “With the business firmly established, it’s time for us to move on and face new exciting challenges in real estate development projects.”