griffin
5th December 2010, 12:32 AM
Found out the other day that my nearby AMC cinema is being re-branded as a Hoyts, so had to do a bit of research on it, as I liked supporting the underdog... but now it looked like it was being absorbed by 'Goliath'.
As of last month, Hoyts was approved to purchase the 5 cinema complexes of AMC, of which 3 are in Brisbane (because its HQ is in Brisbane).
I was originally of the impression that Hoyts was part of the BCC/GU/Village consortium that pretty much monopolises the movie theatre market in this country. But reading up on it, I was wrong.
It turns out that when Hoyts was bought out by the Packer family, they sold off many of the cinemas to the growing rival (purchasing an asset just to break up and sell off for quick profit). So when I noticed the Hoyts cinemas in Brisbane becoming re-badged as BCC in the mid-90s, I just assumed that Hoyts was just merging with BCC and GU/Village... I didn't realise (all this time) that Hoyts has remained a rival to the BCC/BU/Village consortium.
I was initially disgusted at the thought that this monopoly had acquired AMC, as it, and the 4 Cineplex cinemas, were the only real rival here... but now I'm quite happy to find out that this should instead help create better (pricing) competition in Brisbane.
Not to mention investment to the nearby Sunnybank Theatres (they need a new sound system to begin with). Hope they build an IMAX... :p
As of last month, Hoyts was approved to purchase the 5 cinema complexes of AMC, of which 3 are in Brisbane (because its HQ is in Brisbane).
I was originally of the impression that Hoyts was part of the BCC/GU/Village consortium that pretty much monopolises the movie theatre market in this country. But reading up on it, I was wrong.
It turns out that when Hoyts was bought out by the Packer family, they sold off many of the cinemas to the growing rival (purchasing an asset just to break up and sell off for quick profit). So when I noticed the Hoyts cinemas in Brisbane becoming re-badged as BCC in the mid-90s, I just assumed that Hoyts was just merging with BCC and GU/Village... I didn't realise (all this time) that Hoyts has remained a rival to the BCC/BU/Village consortium.
I was initially disgusted at the thought that this monopoly had acquired AMC, as it, and the 4 Cineplex cinemas, were the only real rival here... but now I'm quite happy to find out that this should instead help create better (pricing) competition in Brisbane.
Not to mention investment to the nearby Sunnybank Theatres (they need a new sound system to begin with). Hope they build an IMAX... :p