ANDERSON BUYS CINEMA ADVERTISING BUSINESS
Tom Anderson, a director of the Ward Anderson cinema chain in this country, has purchased the famous Pearl & Dean cinema advertising company in the UK, for the nominal sum of £1. Image, a new venture backed by Anderson, bought the company from STV, which is ITV’s Scottish licensee. As part of the deal STV will recoup £9.1 million (€10.4 million) it loaned Pearl & Dean. The Pearl & Dean company has about 36 per cent of the UK cinema advertising market.
Meanwhile, Vue Entertainment, the British cinema group that owns the 14-screen multiplex at the Liffey Valley shopping centre in Dublin, has been put up for sale for an estimated £400 million.