Warner Bros International Cinemas (WBIC) and VillageCinemas, who jointly owned 90% of Warner Village Cinemas in Italy, have boughtthe remaining 10% of the venture currently held by Focus Partnership.
As of yesterday (22) WBIC and Village Cinemas each own 50% of the business.
"With Focus, we were able to build a thriving and robust Italian exhibitionbusiness," WBIC president president Millard Ochs said in a statement. "We'llcontinue to operate and expand our Italian cinema business and look forward tobeing a vital part of this exciting market."
"Warner Village Cinemas is the number one cinema circuit in Italy, drawing10million admissions yearly," Focus Partnership. president Ettore Rosbochadded.
"With the business firmly established, it's time for us to move on and face new exciting challenges in real estate development projects."
Warner Village Cinemas operates 14cinemas in Italy, with a total of 146 screens and more than 33,000 seats. WBIC also runs more than 70 multiplexes and more than 650 screens in China, Japan, Spain and Taiwan.