Movie giant Cineworld was today forced to sell three cinemas as competition officials reacted to its £47.3 million acquisition of arthouse group Picturehouse.
The Aberdeen and Bury St Edmunds Picturehouse branches are to be sold, while in Cambridge boss Steve Wiener said he was still deciding whether to dump the local Cineworld or Picturehouse.
The Competition Commission demanded the sales after ruling that the deal “could lead to higher prices for local cinema goers.” Any buyers of the three cinemas will have to be approved by the commission, which said the new operators of the site must continue running them as cinemas.
Wiener said he was “very disappointed” by the decision but added: “We will be selling these cinemas as going concerns and will be supporting our affected cinema teams through the sale.”
