Danish Egmont's daughter Nordisk Film has has acquired all shares in the biggest cinema chain in Norway, Oslo Kino AS.
Nordisk Film will thereby be adding 15 cinemas to the existing 18 cinemas owned in Denmark and Norway.
Nordisk Film is expecting to take over Oslo Kino in the second quarter of 2013. The total fee that the municipality of Oslo receives amounts to approximately 600 million Norwegian Kroner.
As the new owner of Oslo Kino with its 15 cinemas and annual sales of about 3 million tickets, Nordisk Film will become a significant player on the Norwegian cinema market in the future. Nordisk Film is already part owner of KinoCity Drammen in Norway. With the addition of Oslo Kino’s cinemas the market share will add up to 28 percent.
“For many years, Nordisk Film has wished to expand our activities in Norway. We are really happy that the municipality of Oslo has chosen us to be the right future owner of Oslo Kino. We are looking forward to contributing to the development of Oslo Kino with our more than 100 years of experience and love for film,” says Allan Hansen, Managing Director of Nordisk Film.
Nordisk Film has already been present in Norway for a number of years, initially as a TV and movie production company and later on also within promotion and sales of films, computer games and gaming consoles.
Nordisk Film owns 66,7 percent of KinoCity Drammen in a close and sound partnership with the municipality of Drammen. With KinoCity, Drammen is the fifth largest cinema city in Norway with more than 350.000 visitors per year.
The mother company, Egmont, has been present in the Norwegian society for more than 100 years and owns, beyond Nordisk Film, the magazine company Egmont Hjemmet Mortensen, Egmont Kids Media and Cappelen Damm (50 percent). After having been co-owner of Norwegian TV 2 since 1992 Egmont finally became the sole owner with the acquisition of the remaining 50 % in 2012.