NEWS: Carlton Communications bids for Cinema Media
By JANET IZATT, campaignlive.co.uk, Friday, 07 June 1996 12:00AM
Carlton Communications is in negotiations to buy Cinema Media, the UK’s biggest cinema sales house, from a company backed by Schroder Ventures.
Carlton Communications is in negotiations to buy Cinema Media, the UK’s
biggest cinema sales house, from a company backed by Schroder Ventures.
Schroder bought Cinema Media from Rank in September 1992, when it was
called Rank Screen Advertising.
News of the move comes only days after Carlton’s chairman, Michael
Green, announced his interest in further expansion when reporting that
pre-tax profits for the six months to 31 March were up 29 per cent year
on year to pounds 143 million.
‘I am determined that we should fulfil all our undoubted potential,’
Both Carlton and Cinema Media are remaining tight-lipped about the deal.
‘We do not comment on market rumours,’ a Carlton spokeswoman said.
However, industry sources say Carlton is interested in Cinema Media
because it offers the potential to expand its advertising sales
Carlton signalled its intention to cast its sales net beyond terrestrial
television sales in January, when it acquired Selec TV’s cable channel.
It then went on to pick up sales contracts for the cable jukebox
channel, the Box, and the Travel Channel in April.
Cinema Media handles advertising sales for the cinema chains MGM, Odeon
and UCI, giving it an 80 per cent share of the market. Its rival, Pearl
and Dean, has the remaining 20 per cent share.
Cinema Media’s sister company, Video Media, the UK’s only video airtime
contractor, could also complement Carlton’s video production and
distribution division. Operating profits for the video division were up
33 per cent to pounds 37.1 million for 1995/96.
This article was first published on campaignlive.co.uk
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