Printer Friendly

MGM ACQUIRES THEATERS IN UNITED KINGDOM

 CULVER CITY, Calif., April 7 /PRNewswire/ -- Metro-Goldwyn-Mayer Inc. today reported that it had completed the acquisition of a significant number of theater properties in the United Kingdom for approximately $93 million. MGM has been operating these theaters under a management contract, but has now acquired the underlying real estate from Credit Lyonnais Bank Nederland N.V., which had acquired them as a result of a default by the prior owner.
 "This acquisition is a key element in our plan to restructure our theater operations in order to develop synergy and increase the underlying values of our operations through the growth of our international theater business," said William Doeren, chairman of MGM's International Cinema Group.
 MGM is involved in the worldwide production and distribution of motion picture and television programs and operates theater chains in Europe.
 -0- 4/7/93
 /CONTACT: Craig A. Parsons of Pondel Parsons & Wilkinson, 310-207-9300, for Metro-Goldwyn-Mayer/


CO: Metro-Goldwyn-Mayer ST: California IN: ENT SU: TNM

MS-JL -- LA009 -- 3673 04/07/93 09:03 EDT
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Apr 7, 1993
Words:167
Previous Article:ADI ANNOUNCES BREAKTHROUGH MPEG FULL-MOTION CHIP
Next Article:DAYTON MINING CORP. ANNOUNCES INVESTMENT BANKER RETAINED FOR MERGER PROPOSALS
Topics:


Related Articles
MGM-PATHE TO MAKE INTEREST PAYMENT ON SENIOR SUBORDINATED NOTES, SUBORDINATED DEBENTURES
MGM-PATHE COMMUNICATIONS SAYS IT HAS MADE NO OFFER FOR ANY MOTION PICTURE COMPANY
MGM REPORTS FIRST QUARTER RESULTS
MGM ANNOUNCES POSSIBLE FUTURE DEBT ACQUISITION
MGM EXPANDS DOMESTIC DISTRIBUTION DIVISION
MGM TO MAKE INTEREST PAYMENT
CL taps Mancuso to top A MGM tipping to solvency.
READING COMPANY ANNOUNCES IT HAS ELECTED NOT TO PARTICIPATE IN THE ACQUISITION OF MGM CINEMA OPERATIONS IN THE UNITED KINGDOM
Industry Veteran Chris Aronson Joins MGM's Theatrical Distribution Team as Executive Vice President and General Sales Manager.

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters