December 10 2013 Latest news:
Tuesday, August 20, 2013
The Cineworld or Picturehouse cinema in Bury St Edmunds may have to be sold, the Competition Commission has suggested.
The commission has just published its preliminary findings as part of its investigation into the acquisition of the Abbeygate Picturehouse by Cineworld.
The preliminary findings are that there is a “substantial lessening of competition” in Aberdeen, Bury St Edmunds and Cambridge.
A spokesman for the Abbeygate Picturehouse said: “This is clearly disappointing news as we had hoped to persuade the Competition Commission that Picturehouse and Cineworld are two fundamentally different businesses that could operate in the same area.
“However, the Competition Commission have concluded that the acquisition would lead to higher prices for customers in these areas.
“The Competition Commission have suggested the sale of either the Cineworld or Picturehouse cinema may be required in each of these areas.
“We will now be moving on to the next stage of the process which is to meet with the Competition Commission to discuss the possibility of other remedies that might avoid sales.”
These findings are part of an ongoing process which is expected to be concluded by mid October.