Cineworld Signs Deal To Run 11-Screen O2 Multiplex Cinema

LONDON (Dow Jones)--U.K. cinema company Cineworld Group PLC (CINE.LN) Friday said it has signed a deal for an undisclosed sum to operate the 11-screen multiplex cinema at the O2 arena in London. Cineworld has agreed a 25-year lease with the Waterfront Limited Partnership, which is part of the Anschutz Entertainment Group, to operate the cinema from June 25. The cinema--which seats 2,844 people and houses London's largest cinema screen--is located inside the O2. The cinema drew box office sales of about GBP4.1 million in 2009. "Not only does this transaction see us expand our London estate, in what is a thriving entertainment facility, but in doing so we will be involved with one of the leading entertainment operators in the world," Cineworld Chief Executive Steve Wiener said in a statement. Cineworld said the financial terms of the agreement are confidential. -By Hannah Benjamin, Dow Jones Newswires; 44-20-7842-9298; hannah.benjamin@dowjones.com (END) Dow Jones Newswires June 25, 2010 02:43 ET (06:43 GMT)