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| Thursday, November 20, 2008 23:43:33 |
Warner Brothers to expand cinemas in 2006
Warner Brothers International Cinemas
announced in Shanghai
Friday that it will open its first digital theater on the Chinese mainland in
2006, National Business Daily
reports. It also said that it would expand its Chinese theater operations by
six locations annually beginning next year. Warner Brothers International Cinemas
vice president of operations John Green, Jr., said that the company's digital
cinema in Beijing is awaiting approval; following its completion, further
expansion will bring Warner Brothers theaters to other areas of the country. In
seven Chinese cities - Beijing, Shanghai, Guangzhou, Chengdu, Xi'an, Wuhan, and
Nanjing - a foreign party may own up to a 75% share in a theater joint venture.
WBIC is the largest multiplex operator in China; the company intends to have
170 screens on the Chinese mainland by the end of 2007. Its current eight
locations saw revenues up 81% to 107 million yuan (US$13.2 million) in the
previous year; box-office receipts are projected to hit 121 million yuan (US$14.9
million) in 2005.
Link: http://www.nbd.com.cn/admin/module/news/newsFile/200512260143.htm
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