Competition Commission orders Cineworld to sell three cinemas

 
Oliver Smith
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CINEWORLD has been told it must sell three of its cinemas in Aberdeen, Bury St Edmunds and Cambridge by the Competition Commission (CC) following an investigation triggered by Cineworld’s purchase of the Picturehouse chain.

“The CC has concluded that the acquisition could lead to a substantial lessening of competition in the three areas where Cineworld and Picturehouse face limited competition, this could lead to higher prices,” said the CC.

The cinema group said that it would reluctantly dispose of the sites, but that it would reinvest the proceeds of the sales into its remaining cinemas in the area.

Cineworld chief executive Stephen Weiner said: “Cineworld Group will continue to invest in and grow both Picturehouse and Cineworld estates.”