No plain sailing for cinema giant as Hoyts heads to float
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Cinema company Hoyts Group is again considering listing on the stockmarket, tipped to take place sometime later this year. It’s expected that the float will be valued at around A$700 million.
The group has an impressive footprint, controlling about 18% of the approximately 2000 cinema screens in Australia. It edges out nearest rival Greater Union to command the largest slice of the market.
As well as its numerical supremacy, Hoyts also owns Val Morgan, the cinema advertising business which controls 95% of the Australian market. Last year, Val Morgan posted a 30% rise in revenue.
But a challenging landscape lies before the company.
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The Conversation
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© The Author(s) 2014. This is an Open Access article distributed under the terms of the Creative Commons Attribution-NoDerivs 3.0 Unported (CC BY-ND 3.0) License (http://creativecommons.org/licenses/by-nd/3.0/) which permits unrestricted distribution and reproduction in any medium, providing that the work is properly cited. You may not alter, transform, or build upon this work.
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Screen and digital media
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Swinburne, S, No plain sailing for cinema giant as Hoyts heads to float, The Conversation, 2014