Cinema City Plans Second Sofia Multiplex

By FNE Staff

    SOFIA: Cinema City International's Bulgarian unit has leased space in the Paradise Center shopping mall in Sofia with plans to open a multiplex at the end of 2011. The ten-year lease is renewable for five year periods.

    Cinema City already operates a multiplex in Sofia with the country's only IMAX screen.

    "Bulgaria is a country where our operations have still a sound potential to grow. In Sofia we are present already five years," Moshe (Mooky) Greidinger, CEO of Cinema City, said in a statement.

    Cinema City is the largest multiplex cinema operator in Central and Eastern Europe and in Israel. It currently operates four multiplexes in the country with a total of 41 screens: in Sofia, Plovdiv, Russe and Stara Zagora. The cinemas in Russe and Stara Zagora were opened during 2010. In 2011 Cinema City plans to open in shopping centers in Varna and Burgas. In 2010 its cinema related operations in Bulgaria brought over EUR 8 million in revenues, selling over 1.3 million tickets.

    In Bulgaria Cinema City also operates film distribution through Forum Film Bulgaria, the exclusive representative of the Walt Disney Studio, Paramount and Universal studios in Bulgaria. The company also offers cinema advertising via its subsidiary New Age Media.

    Cinema City International NV is listed on the Warsaw Stock Exchange.