Business
Acquisition of a Dynamic Arthouse Cinema in Hobart, Tasmania by Reading International, Inc.
CULVER CITY, Calif.--(BUSINESS WIRE)-- Reading International, Inc. (NASDAQ: RDI) (“Reading”) announced that as of today, it is honoured to take over the
About this update from Reading International Inc
[{"type":"text","content":" CULVER CITY, Calif.--(BUSINESS WIRE)--\nReading International, Inc. (NASDAQ: RDI) (“Reading”) announced that as of today, it is honoured to take over the operation of the iconic State Cinema in Hobart, Tasmania. The State Cinema has been a vibrant part of the cultural life of North Hobart for over 100 years. Today, due to the hard work of local visionary businessman John Kelly, the State Cinema features ten screens, a rooftop cinema and bar, a large café and an independent bookstore. For decades, the State Cinema has been exhibiting a range of specialty films and is known as one of Australia’s most prolific arthouses in terms of both range of programming and box office.\n\n\nThe acquisition of the State Cinema in Hobart represents Reading’s first international step into the arthouse and specialty cinema space. The State Cinema will join a strong portfolio of specialty cinemas in the United States, whose foundation is the Angelika Film Center & Café in New York City, which continues to be one of the highest grossing dedicated arthouses in North America.\n\n\nThis acquisition is Reading’s second cinema acquisition in Tasmania in 2019. During the first quarter of 2019, Reading purchased the CMax Cinemas in Devonport, which has since been rebranded Reading Cinemas Devonport. With these two cinemas, Reading represents the second largest exhibitor in terms of box office in Tasmania\n\n\nAbout Reading International, Inc.:\n\n\nReading International (http://www.readingrdi.com) is a publically listed company in the United States (NASDAQ: RDI), which is in the business of owning and operating cinemas and developing, owning and operating real estate assets. Our business consists primarily of the development, ownership and operation of cinemas in the United States, Australia and New Zealand; and the development, ownership and operation of retail and commercial real estate in Australia, New Zealand and the United States, including entertainment-themed retail centers in Australia and New Zealand and live theater assets in Manhattan and Chicago in the United States.\n\n\nReading manages its worldwide cinema business under various different brands in the United States, under the Reading brand (http://www.readingcinemasus.com), Angelika Film Center brand (http://www.angelikafilmcenter.com), Consolidated Theatres brand (http://www.consolidatedth...