Greenwich positive about Titanic Cinema’s new owner

7 September 2010 (11:07)

The Titanic Cinema, a movie theater located in Greenwich Trade & Entertainment Center in Yekaterinburg, now has a new owner. OAO VUZ-Bank sold the movie theater to ZAO Profit Cinema. The shopping mall’s management expects positive changes only, since the business was never a core one for the bank, whereas Profit Cinema runs a movie theater network throughout the entire country.

‘No changes for the worse are likely to occur. We hope for better things, because this movie theater is going to be the investor’s core asset. VUZ-Bank treated this business as a secondary one. We also hope that Profit Cinema will finally launch a coffee bar and invest in the decoration of the halls; in fact, the design of the project has already been adopted. Then, another remote booking office will be opened. All these things have been planned beforehand and will probably become available in September. All of these innovations are introduced by the new proprietor; the company has already replaced the screens and had the movie halls remodeled. All in all, things have been going very well so far,’ Director of Greenwich Trade & Entertainment Center Dmitry Sarapultsev said to UrBC.

However, the shopping mall’s management does not know the exact terms of the selling transaction.

‘We were not involved in this deal, so we cannot provide any details. We just understood that the new owner and the mall spoke the same language, this is why we agreed to the sale,’ he added.

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