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Australia’s Village Roadshow Limited has begun exclusive sale talks with BGH, one of two finance companies that at the beginning of the year made takeover approaches to the company. The company also said that keeping its cinemas, film studios and theme parks closed is costing it $6.45 million to $9.68 million (A$10-15 million) per month, even after government subsidies for staff salaries.
Village Roadshow Limited owns one of Australia’s largest cinema circuits, film distribution company Roadshow Pictures and the Village Roadshow Studios at Gold Coast in Queensland. It also owns 31% of New York-based sales and production company FilmNation, and 20% of Village Roadshow Entertainment Group (VREG), a U.S-based content development and production firm.
On Monday it revealed the complicated, exclusive, but non-binding terms of its next stage of negotiations with BGH. The finance company has agreed to offer up to A$2.40
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