Denmark’s Nordisk buys Norway’s largest cinema chain to become market leader
- The Danish major will take over Oslo Kino - 15 theatres in and outside Oslo, last year selling three million tickets – to control 27.8% of the market
With the take-over of Oslo Kino from the City of Oslo – Norway’s largest cinema chain – Danish major, Nordisk Film, will become market leader among private exhibitors controlling 27.8% of the Norwegian market, which is otherwise dominated for municipally-owned theatres.
So far SF Kino, controlled by Swedish major, Svensk Filmindustri, and a co-owner of Bergen Kino, has been the No 1 independent cinema operator, with a market share of 24.6%. There are still 135 publicly run theatres in Norway against 53 private, now with market shares of 47.6% and 52.4%, respectively.
“For many years we have wanted to expand our activities in Norway, so we are happy Oslo chose us as the new owners. We carry 100 years of experience and love of cinema in our luggage, which we look forward to use in the development of Oslo Kino,” said Nordisk CEO Allan Hansen.
Already the co-owner of Drammen’s KinoCity theatre, the Danish company paid €105 million for all shares in Oslo Kino, which operates seven theatres/25 screens in Oslo, and eight cinemas outside the capital (through Norsk Kinodrift), selling three million tickets annually.
Norsk Kinodrift and other subsidiaries Media Direct Norge and local distributor, Norsk Filmdistribusjon, were included in the deal – altogether the Oslo enterprise had a 2012 turnover close to $0.9 million. Nordisk’s acquisition will come into effect during the second quarter of 2013.
Owned by Denmark’s Egmont media concern, Nordisk has partnership in several Norwegian film companies, including Filmweb, Neofilm and Maipo Film. Egmont itself controls several publishers, and has since last year been the sole owner of Norwegian commercial broadcaster TV2.
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