Paris-based film group Mk2 is expanding its footprint in Spain with the acquisition of a 15-screen theater in Madrid, becoming the country’s third-largest exhibitor.
Following the acquisition of the cinema chain Cine/Sur in Andalusia in 2014, MK2 has acquired Cines Dreams Palacio de Hielo, Spain’s busiest theater with 930,000 tickets sold in 2016.
MK2, which was advised by the lawyers firm Perez-Llorca, now boasts 10 theaters with 128 screens and an estimated 5 million moviegoers in Spain.
The company has now 22 theaters in total across France and Spain. With 196 screens in total, MK2 attracts a cumulated 10 million moviegoers.
MK2’s Cine/Sur circuit hosts the Seville film festival, among other events.
Founded by Marin Karmitz in 1974, MK2 has pioneered the creation of arthouse cinemas boasting a diverse programming, as well as lifestyle and cultural components in France.
In recent years, MK2 has also been investing in virtual reality and launched Europe’s first permanent location-based VR facility in Paris, adjacent to its multiplex, the MK2 Bibliotheque.
The company also bowed MK2/Mile End, a distribution venture with Charles Tremblay in Canada last year.