Recent News Stories
- Tsai Ming-liang on being a stray in Taiwan
- First Feature Film Initiative winners announced
- Quiet start for new films at Taipei B.O.
- Japanese documentaries after Fukushima
- China B.O. passes RMB20 billion in 2013
- Farooki on fibbing, fantasy and box office
- Conan-Lupin collaboration tops Japan B.O.
- Four, No Man's Land lead China B.O.
- Metro Manila heists British indie awards
- Killers to premiere at Midnight in Sundance
- The Second Coming closes deals
- No Man's Land has strong China opening
- Singapore IFF to be relaunched in 2014
- Japanese film-makers protest state secrets bill
- Live-action Attack on Titan relaunched
- South Korean films break local admissions record
- White Storm defies Gravity at China B.O.
- Local documentaries strong at Taipei B.O.
- SPEC finale dethrones Kaguya at Japan B.O.
- In Bloom takes top prize at Tokyo Filmex
- Talent Campus Tokyo awards Filipino project
- Huace strikes pact with Guo Jingming
- Miike Takashi to adapt psycho-thriller manga
- Ang Lee awarded by Cinemanila
- Grandmaster leads Asia-Pacific award nominations
- Yukisada Isao adapts Five Minutes in China
- Great Passage tops 38th Hochi Film Awards
- Dexter Studios opens Beijing office
- Lupin III live-action film coming in 2014
- Fist, Z Storm, Taoist scripts approved by SAPPRFT
- Ant Story premieres in AsiaAfrica competition
- Ghibli back on top with Princess Kaguya
- APSA to host public screenings
- Gravity starves Hunger Games at China B.O.
- Hope wins through at Blue Dragon Awards
- ASEAN Film Festival launches in Singapore
- Beyond Beauty stays strong in Taipei
- Lost in Thailand secures Taiwan import quota
- Tiny Times 3 set to begin production
- Singapore, France major winners at Golden Horse
Aeon buys out Warner Mycal cinemas
By Patrick Frater
Thu, 20 December 2012, 20:50 PM (HKT)
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.