Cineworld denies sales talks with Odeon owner

3rd January 2023 | Jack Oliver

Bankrupt cinema chain Cineworld has denied being in talks with Odeon owner AMC to break up its business and sell its individual cinemas.

Instead, it insists that it is only interested in a sales process for the whole business.

This comes after reports that Cineworld, which declared bankruptcy in the US in September and is the second-largest cinema chain globally, had been looking to offload some of its cinemas to AMC Entertainment.

The company failed to bounce back from closures during the Covid-19 outbreak. Lockdowns forced most of its 751 sites to close and led to a $708m (£592m) loss last year.

“Cineworld would like to clarify that neither it nor its advisers have participated in discussions with AMC Entertainment Holdings Inc regarding the sale of any of its cinema assets”, it said on Tuesday.

The British cinema firm, which also owns the Picturehouse brand, said it was planning to approach potential buyers later this month.

Founded in 1995, Cineworld operates 500 sites in the US and over 100 in the UK and Ireland. 


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