Cineworld adds O2 multiplex to estate

Main auditorium houses largest cinema screen in London

LONDON -- U.K. stock listed theater operator Cineworld Group said Friday it has added the multiplex cinema housed at the 02 live event center in Greenwich, London to its estate.

The cinema chain has signed a 25-year lease deal with 02 owner Waterfront Limited Partnership, part of the Anschutz Entertainment Group, to operate the 11-screen multiplex.

The main auditorium houses the largest cinema screen in London and seats up to 770 people.

The financial terms of the agreement are confidential.

Cineworld, the second largest cinema chain here, takes over the cinema's operation from rival and the U.K.'s third largest operator Vue.

Cineworld CEO Steve Wiener said: "The O2 is a landmark destination in London and we are delighted to have signed this deal with AEG. Not only does this transaction see us expand our London estate, in what is a thriving entertainment facility, but in doing so we will be involved with one of the leading entertainment operators in the world."

The 02 plays host to myriad live events including previous events such as the ATP Masters Tennis finals, Russell Brand's stand up shows and Friday night sees Bon Jovi rock out the venue.
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