SkyCity Cinemas changed its owners last month; now Hoyts has acquired the Berkeley Group (with its 21 screens across four cinema complexes in Botany Downs, Mission Bay, Takapuna and Hibiscus Coast).
“The Berkeley Cinema Group is a perfect fit for Hoyts. It gives us a greater presence in New Zealand’s largest market and Berkeley’s design and operations are highly complementary to our own,” said Hoyts chief executive Delfin Fernandez.
The agreement is conditional regulatory approvals and is expected to be completed by June.
Hoyts’ New Zealand cinema circuit will increase from seven multiplexes and 49 screens to 11 multiplexes and 70 screens as a result of the acquisition.
As the adspend numbers above suggest, cinema advertising hasn’t been high on the agenda for Kiwi marketers. Offshore, 3D advertising is starting to become the next big thing in the movie business — we might not rush to follow suit over here, but as 3D international material becomes available in this market, expect to see a few fancy prints popping up down under.
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