×
You will be redirected back to your article in seconds

Cineworld clear to buy exhib UGC

World Brief

LONDON — U.K. competish authority the Office of Fair Trading (OFT) has given the green light to the purchase by Cineworld U.K. of UGC’s Blighty exhibition business.

Move waves through the creation of the territory’s second-largest circuit. In October 2004, Cineworld U.K. bought rival chain Cine-U.K.

The OFT made the all-clear dependent on Cineworld U.K. selling theaters in areas where both UGC and Cine-U.K. operate to address competition concerns. These are in Boldon, Harlow, Swindon, Wigan, Birmingham, Ealing and Slough.

Cineworld U.K., which is owned by U.S. venture capitalists the Blackstone Group, reportedly paid around $400 million for UGC, which has 408 screens in 42 theaters.

The U.K.’s three big chains — Odeon, Cineworld and Vue — are now all owned by venture capital groups rather than film companies.

Odeon Cinemas and UCI were snapped up last year by Guy Hands; Vue Entertainment was created in 2003 by the merger of Warner Village and SBC.

More Biz

  • Contract Placeholder Business WGA ATA Agent

    Signs of Solidarity and Strain Emerge as Week 2 of WGA-Talent Agency Standoff Begins

    Hundreds of WGA members rallied solidly behind their union last week as the industry grappled with uncertainties spurred by the sudden break between writers and their talent agency representatives. But as the standoff heads into its second week, signs of strain among some WGA members are beginning to emerge. Shalom Auslander, author and creator of [...]

  • Woodstock 50 Festival Postpones Ticket On-Sale

    Woodstock 50 Festival Postpones Ticket On-Sale Date

    UPDATED: The troubled Woodstock 50 festival has run into more difficulties, as multiple sources told Variety late Friday that the April 22 on-sale date for the event has been postponed. Agents for artists scheduled to perform at the festival — which include Jay-Z, Dead & Company, Chance the Rapper, Miley Cyrus, Imagine Dragons and Halsey [...]

  • National Enquirer - Jeff Bezos

    Hudson Media CEO James Cohen Purchases the National Enquirer

    Hudson Media’s CEO James Cohen announced Thursday that he will purchase the National Enquirer as well as American Media’s other tabloids, the Globe and the National Examiner. With the purchase of the National Enquirer, which Cohen reportedly bought for $100 million, he plans to strengthen their collaborative efforts, documentary shows, weekly podcasts, and theme parks. [...]

  • Amazon

    Amazon Music’s Free Tier Is More Advertising Play Than Spotify Killer, Analysts Say

    When news began to spread last week that Amazon Music’s long-anticipated free streaming tier was imminent, headlines emerged about its threat to Spotify and Apple Music, with some stories saying that Spotify’s stock price dropped in response to the news. But not only was today’s launch of the free tier basically a soft one — [...]

  • Nicki MinajCFDA Vogue Fashion Fund Dinner,

    Nicki Minaj Parts Ways With Longtime Managers (EXCLUSIVE)

    Nicki Minaj has parted ways with Gee Roberson and Cortez Bryant and Blueprint/ Maverick Management, a source close to the situation confirms to Variety. She had worked with the pair for the majority of her career. The source says the decision was mutual and amicable, and there was no specific reason for the split, adding [...]

  • Amazon

    Amazon Music Launches Free Streaming Tier, Through Alexa Only (for Now)

    Amazon Music today basically soft-launched its free streaming tier, in which U.S. customers of its Alexa voice assistant will have access to top Amazon Music playlists and thousands of stations, at no cost. The limited access that the new free service provides — it’s only available through Alexa, and when the listener requests a song, [...]

More From Our Brands

Access exclusive content