22 Apr 2010

Cinema takeover approved

7:03 am on 22 April 2010

The Commerce Commission has cleared the way for the Hoyts cinema chain to buy the Berkeley cinemas.

Berkeley has 21 screens across four complexes in Auckland, and the acquisition will boost Hoyts' New Zealand portfolio to 11 multiplexes and 70 screens.

Commission chair Mark Berry says he's satisfied the acquisition won't substantially lessen competition in the Auckland market.