Carlton Communications Plc and Thomson multimedia have signed a joint agreement to acquire the cinema advertising interests owned by UGC of France and the Belgian broadcaster RTBF.
The acquisition will be made via a new joint venture company, 50% owned by Carlton and 50% by Thomson. The deal comprises a cash consideration of Euros 100 million (£62 million) and completion is expected to take place within six weeks, when the necessary regulatory consents have been obtained.
The acquisition will give Carlton and Thomson cinema advertising interests in France, Belgium, Italy, Spain and nine other European countries and secures relationships with key European exhibitor chains such as UGC and Warner Village as well as major domestic exhibitors in each country. Carlton Screen Advertising remains wholly-owned by Carlton.
Gerry Murphy, chief executive of Carlton, said: “Cinema is increasingly international in scope for exhibitors and advertisers as well as for distributors. This acquisition expands our capability to deliver screen advertising solutions to important markets in Europe.”
