Vue Entertainment
| Vue Entertainment
|
|
|---|---|
 |
|
| legal form | |
| founding | 2003 |
| Seat |
London , UK
|
| management | Timothy Richards ( CEO ) |
| Number of employees | about 3000 |
| sales | 281 million pounds |
| Branch | Cinema operators |
| Website | vue-international.com |
| Status: November 24, 2011 | |
Vue Entertainment , brand identity vue , is a cinema chain based in London . It operates around 85 cinemas with 800 screens in the United Kingdom , Ireland , Poland , Germany , Denmark , Italy , Latvia , Lithuania , the Netherlands and Taiwan . According to the company, sales in 2011 were the equivalent of around 378 million euros, and the number of employees was around 3,000.
history
The company was formed in May 2003 from the merger of the chain SBC International Cinemas , founded by Tim Richards, CEO of Vue Entertainment, with the 36 houses of the Warner Village Cinemas UK chain that he had taken over . For its part, Warner Village Cinema was a joint venture established in 1996 between the US company Warner Brothers and the Australian company Village Roadshow .
In 2005, Vue took over the Anglo-Irish cinema chain Ster Century from Aurora Entertainment . Ster Century was originally a subsidiary of the South African group Ster-Kinekor , which emerged from the takeover of the South African cinemas from 20th Century Fox in 1969 by the insurance company Sanlam .
In 2006, a management buy-out took place , in which management took over 51 percent of the shares in Vue and the rest of the Bank of Scotland . 2010 Vue Entertainment has been on the London investment company Doughty Hanson & Co sold.
In July 2012 Vue Entertainment announced its intention to take over the Hamburg multiplex cinema group Cinemaxx with 31 theaters in Germany and three in Denmark for 174 million euros. Its largest shareholder, Herbert Kloiber , agreed to sell his stake of almost 85 percent. After taking over 95 percent of the shares, an application was made in October 2012 to squeeze out the minority shareholders. After the acquisition of Cinemaxx, Vue Entertainment had around 5100 employees and a turnover of over 570 million euros.
In June 2013, Doughty Hanson & Co sold Vue Entertainment to Omers Private Equity and Alberta Investment Management , both investment companies of Canadian pension funds, for $ 1.5 billion .
From October 2018, after approval by the Cartel Office, the Cinestar chain with 55 plus two multiplex cinemas (449 screens) under construction will also be taken over. The Federal Cartel Office approved the takeover on March 2, 2020 on the condition that five Cinestar cinemas and one Cinemaxx cinema be sold to competitors within six months in order to prevent a monopoly in the six cities.
Web links
Individual evidence
- ↑ Vue Holdings (UK) Limited Financial Statements period ended 24th November 2011 (PDF; 4.2 MB)
- ↑ spiegel.de: Cinemaxx: British investor Vue buys German cinema chain , Spiegel Online , July 10, 2012
- ↑ aktiencheck.de: CinemaxX -Share: Squeeze-out application of Vue Beteiligungs AG .
- ↑ Doughty Hanson sells Vue cinema chain for $ 1.5 billion , reuters.com June 10, 2013.
- ↑ Cinemaxx owner buys Cinestar , tagesschau.de October 22, 2018.
- ↑ Marc Mensch: Federal Cartel Office gives the green light for CineStar takeover - subject to conditions. In: blickpunktfilm.de. March 2, 2020, accessed March 2, 2020 .