Member Article

Odeon snapped up in £921m mega deal creating world’s largest theatre network

The parent company of Odeon and UCI cinemas, Odeon and UCI Cinemas Group, has been snapped up in a £921m deal by American operator AMC.

Current owners Terra Firma, a private equity firm who unsuccessfully tried to sell the chain in 2013, combined the two marquee cinema names after buying Odeon and UCI in 2004 for €650m (approx. £475m) and €350m respectively.

The deal will see Odeon and UCI Cinemas, which oversee 242 theatres with 2,236 screens, continue to be based out of London but will function as a subsidiary of AMC, who now boast a presence in eight countries with 627 theatres and over 7,600 screens.

American chain AMC are themselves owned by Chinese commercial property firm Dalian Wanda, the world’s biggest theatre operator who are helmed by China’s richest man Wang Jianlin, meaning today’s edition of Europe’s biggest cinema chain creates an unrivalled global network of theatres.

AMC Chief Executive Officer and President Adam Aron described the acquisition as a ‘once-in-a-generation opportunity’ to acquire Europe’s biggest cinema chain and create a global entertainment juggernaut.

He added: “By introducing AMC’s operational expertise, scale and innovative guest initiatives across Odeon & UCI’s prime theatre locations and digital channels, we expect to drive attendance in these international markets and leverage the growing international demand for movie-going.”

Paul Donovan, Odeon & UCI Chief Executive Officer commented: “With our shared vision for creating a world class cinema experience, we are delighted to be joining the AMC family.

“As an innovator in guest experiences, AMC is the ideal partner for the next stage of our long-term growth in Europe, and this is very exciting news for our guests, our colleagues and the wider film industry.”

The deal will be confirmed once it has received competition clearance from the European Commission.

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