14/03/2003 - Exhibitors are looking buyers since the market has reached saturation point. Warner Vil-lages Cinema UK soon to SBC?

Warner Bros Cinemas and Australia’s Village Roadshow Ltd announced they were discussing the sale of their joint exhibition venture, Warner Village Cinemas UK, with UK independent exhibitor, Spean Bridge Cinemas International (SBC International).
With 36 sites and 354 screens, Warner Village Cinemas UK is the second biggest exhibition circuit in the United Kingdom after Odeon Cinemas.
In recent times the UK exhibition sector has experienced some major changes, since new site development has reached saturation point and many operators are looking into cashing in on their assets while admissions are at a record high (176 million in 2002).
Just last week, Odeon Cinemas was sold to a syndicate led by German investment bank WestLB, and last January, the South African group Ster Century, put its seven UK and Irish sites up for sale. Another circuit, Cine UK is looking for new buyers and Universal is also said to be thinking about selling its share in the UCI cinema circuit, the UK’s fourth largest. Only French-owned UGC, the UK’s third-largest exhibitor with 42 sites/403 screens has not (for now) put up a “For Sale” sign.