|
Cinema exhibitor, film production and leisure group Village Roadshow is in
discussions to sell another asset as it sharpens its focus on film production
operations.
Village has already sold its interest in a South Korean cinema operation for
a pre-tax profit of $84 million, refinanced its film production division, and
moved to take full ownership of Village Roadshow Films.
This year it announced plans to dramatically expand its co-production deal
with Warner Bros, committing an extra $206 million to fund the Matrix sequels
and other big budget movies.
Now Village and Warner Bros are in discussions with a third party about the
sale of their jointly owned cinema circuit in the United Kingdom.
In yesterday's two-paragraph statement, Village said it would say more about
its latest divestment if and when it went ahead.
Chairman Robert Kirby was not available for further comment yesterday.
This month, Village posted a 2.5 per cent rise in interim profit to $46.5
million, after tax, special items and discontinuing operations.
On the basis of continuing operations, net profit slumped to a $17.6 million
loss from a $35.4 million profit in the previous corresponding period.
Shares in Village yesterday slipped 1c to $1.01.
|
Print Entire Page
