Recent News Stories

  1. Pirates raids Korea B.O. again
  2. Bona reports strong growth in 2014 Q2
  3. Assassination Classroom goes live-action
  4. Tien Feng to receive Golden Horse honour
  5. Hualien International launches in Taipei
  6. CatchPlay legal saga nears endgame
  7. Tokyo festival expands with new partners
  8. Doraemon wins round three in Japan
  9. Huayi reports 2014 H1 earnings
  10. The Four finale tops China box office
  11. Pirates overtakes Currents in South Korea
  12. Singapore directors team up for omnibus
  13. Lucy sizzles at Taiwan box office
  14. Youku-Tudou projects net loss in Q2
  15. Asian Film Summit completes lineup
  16. New Kang Je-gyu film locks cast
  17. Toronto festival completes 2014 lineup
  18. Doraemon takes second weekend in Japan
  19. Giddens' Café charms HK and Taiwan
  20. Roaring Currents sets Korean B.O. record
  21. Shinya Shokudo to become feature film
  22. Lav Diaz wins top Locarno prize
  23. Enlight Media reports lower profits
  24. Gwei Lun-mei is Golden Horse ambassador
  25. Toronto adds Heart, Revenge and Love Hotel
  26. Witch tops second weekend in China
  27. Doraemon defeats Transformers in Japan
  28. Alex Yang returns with Love in Vain
  29. Roaring Currents breaks 10m admissions
  30. Uzumasa tops Fantasia awards
  31. Haemoo to compete at San Sebastián
  32. Lawson acquires Japan's United Cinemas
  33. Montreal World festival fixes line-up
  34. Fox boards Na Hong-jin's new film
  35. Taiwan's Serenity Entertainment shuttered
  36. Triumph in the Skies feature starts production
  37. Zhang Qiang joins Alibaba Pictures
  38. Lunar Kingdom bewitches China box office
  39. Kenshin sequel heats up Japan box office
  40. Busan celebrates Ann Hui

Aeon buys out Warner Mycal cinemas


Aeon buys out Warner Mycal cinemas

By Patrick Frater

Thu, 20 December 2012, 20:50 PM (HKT)


Exhibition News

Japanese retailing giant Aeon Group is to buy out Warner Bros Entertainment's 50% stake in the Japanese cinema chain Warner Mycal.

Warner Mycal is one of the largest exhibitors in Japan with 60 theatres and 496 screens, and was established in 1993 as a joint venture between Warner and Aeon, which was then known as Mycal.

According to a stock market filing by Aeon the deal is expected to complete in Feb or March 2013.

By combining the Warner Mycal cinemas with Aeon's wholly owned chain, which totals some 70 complexes and 600 screens, the new group expects to become the largest movie theatre operator in Japan. The current market leader is Toho Cinemas, which previously bought out the Virgin chain in Japan.

Aeon, which operates the MaxValue and TopValue supermarket chain and is in the process of buying Tesco's supermarkets in Japan and Carrefour's stores in Malaysia, did not disclose the value of the Warner Mycal stake purchase. But it said that it would fund the purchase from its own balance sheet.

Warner Bros International Cinemas has over the past two decades been a pioneer of multiplex cinemas around the world, opening more than 170 cinemas and almost 1,600 screens in 11 countries internationally. Including Portugal, Japan, Holland, Italy, China, and Taiwan. Most of these have been sold to local players, with Japan remaining the last disposal.


Sign up with your email address for our free weekly newsletter: