Warner Bros in talks to open multiplex cinemas

The US-based Warner Bros. International Cinemas Corp and Vietnam’s Galaxy Thien Ngan Film Co on March 14 announced their joint programme to build and operate international standard multiplex cinemas in Vietnam.
Phan To Hong Hai, marketing director of Galaxy Thien Ngan, said the cooperation with Warner Bros. is to provide excellent entertainment quality to the Vietnamese market and to be the number one entertainment group in Vietnam.
Hai said on March 14 that he hoped the cooperation would bring high quality cinema service to the Vietnamese market given the prestige vested with the US partner.
“We are pleased to partner with Warner Bros. International Cinemas who is not just part of one of the most famous studios in Hollywood but also a successful leading developer of cinemas worldwide,” he said.
Meanwhile, Millard Ochs, president of Warner Bros. International Cinemas said in a statement that “building multiplex cinemas in Vietnam is absolutely in line with our overall business plan to grow the movie going audience in underserved markets.”
“Vietnam is a country of 80 million people and there are currently less than 60 screens in operation. By building state-of-the-art cinemas in this region, we hope to not only increase the public’s habit of going to the movies, but also strengthen and grow the country’s filmmaking industry as whole.”
Initial terms of this deal are still being finalised and an announcement of the partnership’s first project is expected shortly, Hai of Galaxy Thien Ngan said.
Warner Bros. International Cinemas has a strong global presence. Since 1991, it has been responsible for the creation of more than 170 cinemas and almost 1,600 screens in 11 countries worldwide. The company currently operates 83 cinemas with 648 screens in four countries, including management of the Mann Theatres chain in the US.
Thien Ngan Galaxy film Co, meanwhile, is one of the first Vietnamese private companies to enter the film business when the government opened this scene to private investment in 2003. Galaxy Thien Ngan film Co also produced a number of successful local films. The company opened first modern cinemas with three screens in the centre of HCM City in May 2005.

 

Category: Business