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UFG Sells Rising Star Media’s KinoStar DeLuxe Cinemas to Cinema Park of ProfMedia

Files under: News
Posted by: admin @ 06:00 [7. 06. 11]

The leading Russian nationwide cinema network Cinema Park has agreed to acquire Rising Star Media, operator of KinoStar DeLuxe Cinemas chain of movie theaters in Russia from UFG Private Equity, Shari Redstone and Paul Heth, according to ProfMedia press announcement. The acquisition was financed from own funds of Cinema Park‘s owner ProfMedia of Russian billionaire Vladimir Potanin. The cinema chain Kinostar could be valued at $100 million, which could be more than 3x capital invested back in late 2009.

Founded in 2002, KinoStar DeLuxe Cinemas chain includes six multiplex movie theaters with 75 screens (including 4 IMAX screens) in Moscow and St. Petersburg. Rising Star Media revenues of KinoStar DeLuxe Cinemas amounted to $100 million in 2010. The private equity firm UFG, Shari Redstone and Paul Heth acquired Rising Star Media from National Amusements in late 2009.

Founded in 2002, Cinema Park operates 20 multiplex movie theaters with 169 screens in 15 cities in Russia. Cinema Park reported revenues of $120 million in 2010. Cinema Park is majority owned by ProfMedia. Its partner in Cinema Park is International Finance Corporation (IFC).

The united entity of Cinema Park and Kinostar DeLuxe (Rising Star Media) will create the largest cinema chain in Russia with 244 screens (incl. 9 IMAX screens), thus implying 9.6% market share in movie theaters in Russia.

In 2009, AlloCine of France acquired Russian cinema information site KinoPoisk.ru.

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