Village Roadshow has acquired the 50% stake it didn’t already own in Roadshow Distribution from its joint venture partner Amalgamated Holdings for A$129.4 million ($106.5 million).
Roadshow Distribution is the largest locally owned distrib Down Under.
Amalgamated topper David Seargeant called the partnership with Village a success but said, “We need to more fully focus our investment strategy on our core businesses and those which we directly control and manage.”
Seargeant said the sale proceeds would repay debt and fund property development.
Amalgamated has no plans to offload its exhib joint venture with Village, which includes nearly 40 multiplex theaters on Oz’s East coast.