Palace Cinemas says it isnegotiating to purchase the Hollywood Multiplexes in
Neither Palace Cinemas nor InterCom would comment on the price, date of handover,number of facilities involved or whether the purchased cinemas would remain inoperation.
Admissions have beendropping precipitously in
In February, Palace Cinemas general director V.J. Maurytold ScreenDaily.com that theexhibition market was not growing and that it was unlikely that moremultiplexes would be built in the country.
InterCom was the top exhibitor in
Palace Cinemas currently hasfour multiplexes in the Hungarian capital, two of which it purchased inNovember 2005 from Budapest Film, and a total of 47 screens. In 2005, PalaceCinemas saw roughly 2 million admissions.
Presently the two companiesaccount for slightly less than half of