Hoyts cleared to buy Berkeley cinemas
Hoyts Corporation Holdings (NZ) has received a green light from New Zealand's competition watchdog to buy Berkeley cinemas in Auckland.
The Commerce Commission has cleared Hoyts to acquire the Berkeley film exhibition business from Everard Entertainment.
Hoyts operates seven cinema complexes in New Zealand, of which two – one at Wairau Park and the other at Sylvia Park – are in Auckland.
Berkeley operates four cinema complexes in greater Auckland, one each at Mission Bay, Botany Downs, Takapuna and Whangaparaoa.
The commission said it was satisfied that the proposed acquisition would not have, or would not be likely to have, the effect of substantially lessening competition in any of the affected markets.
It noted competition from SkyCity Cinemas and from fringe competitors, and the role of major film distributors who supply films to exhibitors.