Recent News Stories

  1. Hollow fills Vietnam cinemas
  2. Tiny Times 3 dazzles at China box office
  3. ChinaVision issues profit warning
  4. Hollow pushes new horror trend in Vietnam
  5. Misono and Clover announce additional cast
  6. Panna Rittikrai (1961-2014)
  7. Truth and Exit top Taipei Film Awards
  8. Film Bureau releases official 2014 numbers
  9. Tiny Times sequel sets China 2-D record
  10. iQiyi launches film division
  11. Kyoto festival to embrace film and art
  12. Asian trio competes at Locarno
  13. Bona launches Secret Treasure
  14. Planet of the Apes rises at Korea box office
  15. Maleficent takes second weekend in Japan
  16. Bona shifts shares
  17. Old Boys second-placed at China B.O.
  18. Summer HKIFF announces line-up
  19. Hiroki Ryuichi goes to Kabuki-cho
  20. Pia Film Festival announces 2014 lineup
  21. Chinese stars launch VC company
  22. SMG rumoured to acquire Galloping Horse
  23. Erik Matti, Kim Sung-soo join PiFan jury
  24. WCF supports Apichatpong's Cemetery
  25. Wulong Karst to sue Transformers producers
  26. Market share of South Korean films plummets
  27. Maleficent dethrones Frozen in Japan
  28. Transformers rules 2nd weekend in China
  29. 10 Minutes wins Taipei New Talent Competition
  30. South Korea and China sign co-pro deal
  31. Pia Film Festival to receive Kawakita Award
  32. Hollywood dominates Greater China in H1 2014
  33. Summer HKIFF to close with Partners in Crime
  34. Jo Yan to run Universal's China office
  35. Transformers invades South Korea box office
  36. Yoshow Culture wins Bunshinsaba lawsuit
  37. Frozen wins 16th round at Japan box office
  38. Transformers towers over China box office
  39. My Man wins top prize in Moscow
  40. Transformers breaks records in Greater China

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: