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Cineworld acquires Picturehouse Cinemas from Arts Alliance

Dec 7, 2012

Arts Alliance has sold City Screen Group, which trades as Picturehouse Cinemas, to Cineworld Group plc, for £47.3 million in cash. Arts Alliance has been the majority shareholder of Picturehouse since 2002.

Thomas Høegh, founder of Arts Alliance and a director of Picturehouse, commented: “Over the last ten years, Lyn Goleby and her team have been at the forefront of developing a customer-centric, quality cinema experience, and successfully brought the unique Picturehouse proposition to an ever-increasing number of passionate audiences. In Cineworld, Arts Alliance could not have found a better partner for Picturehouse to scale the circuit to many more.”

Picturehouse is the U.K.’s leading art-house cinema operator. It was the first major cinema group in the U.K. to convert 100% of its screens to digital projection. The group also provides programming and ticketing solutions to over 50 independent cinemas throughout the U.K. and Norway, and operates a standalone distribution company, Picturehouse Entertainment. The company reports that revenues and earnings increased more than four-fold between 2002 and 2011.

Arts Alliance continues to own majority interests in Arts Alliance Media, Europe's largest digital-cinema integration company, and Met Film, a fast-growing film school and award-winning feature film production and post-production company. Arts Alliance Media continues to provide digital in-cinema solutions, services and support to Cineworld and to Picturehouse cinemas.


Cineworld acquires Picturehouse Cinemas from Arts Alliance

Dec 7, 2012

Arts Alliance has sold City Screen Group, which trades as Picturehouse Cinemas, to Cineworld Group plc, for £47.3 million in cash. Arts Alliance has been the majority shareholder of Picturehouse since 2002.

Thomas Høegh, founder of Arts Alliance and a director of Picturehouse, commented: “Over the last ten years, Lyn Goleby and her team have been at the forefront of developing a customer-centric, quality cinema experience, and successfully brought the unique Picturehouse proposition to an ever-increasing number of passionate audiences. In Cineworld, Arts Alliance could not have found a better partner for Picturehouse to scale the circuit to many more.”

Picturehouse is the U.K.’s leading art-house cinema operator. It was the first major cinema group in the U.K. to convert 100% of its screens to digital projection. The group also provides programming and ticketing solutions to over 50 independent cinemas throughout the U.K. and Norway, and operates a standalone distribution company, Picturehouse Entertainment. The company reports that revenues and earnings increased more than four-fold between 2002 and 2011.

Arts Alliance continues to own majority interests in Arts Alliance Media, Europe's largest digital-cinema integration company, and Met Film, a fast-growing film school and award-winning feature film production and post-production company. Arts Alliance Media continues to provide digital in-cinema solutions, services and support to Cineworld and to Picturehouse cinemas.

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