Partners set multiplex for Belgrade

MOSCOW — Yugoslavia’s first multiplex could be opening its doors in Belgrade as early as July 1998, developed jointly by U.S. operators Golden Ring Entertainment (GRE), which runs Moscow’s successful Kodak Kinomir screen, and Belgrade-registered Delta Holding.

GRE’s U.S. directors, Paul Heth and Ray Markovich, have settled on one city-center site, where an existing building would be suitable for conversion into a four- to six-screen venue, offering 925-1,000 seats, according to Markovich. Heth is set to return to Belgrade in mid-November to finalize site details.

Markovich said capital costs on the project would be $2 million to $2.5 million, split equally between GRE and Delta. “We are interested in the conflict markets — everyone’s scared of Belgrade at the moment, but we have proved that what we call cinema with attitude can work in Moscow,” Heth said, citing Romania, Hungary and Poland as future target markets. “We feel strongly about the potential of Yugoslavia as a vibrant filmmaking and film-viewing nation.”

GRE will provide cinema management, while Delta, with wide interests in real estate, banking and other fields around the former Yugoslavia, should manage all local questions. The multiplex is Delta’s first media and entertainment venture.

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