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Lietuvos Kinas sale suspended

Auksė Kancerevičiūtė 2010-07-19
The planned sale of real estate properties by Lithuanian distribution company Lietuvos Kinas (www.lietuvoskinas.lt) has been suspended by the Ministry of Culture.

The Ministry stopped the sale, stating that it was necessary to clarify the conditions of the sale. The director of Lietuvos Kinas, Juozas Koreiva argued that doubts about his activity are generated by "some film community members who see that we can become their competitor."

In 2009, the company reduced prices for rental of the premises due to the economic crisis. It had a negative impact for the financial results of the company; the losses incurred increased by some 90%.

Lietuvos Kinas has been in business since 1944. The name and status of the company has changed many times, but the activity stayed the same: to collect and display quaity films. Over the years, the company has assembled a large archive of films. Lithuanian Cinema preserves about 6,600 feature films, over 7,700 documentaries and 400 animated films. Among them is a unique collection of silent film and modern cinema classics and works by Lithuanian Filmmakers.

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