Warner Bros., 2 Others Plan Spain Theater Chain
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Warner Bros., a Burbank entertainment company, has signed an agreement with the Spanish multimedia group PRISA and the Portuguese firm Lusomundo Adiovisuais-SGPA, S.A. to jointly develop 20 multiplex theaters with a total of 200 screens throughout Spain over the next four years.
The agreement stipulates that the three create a new company to build and operate the theaters in which each will have a stake totaling 33.3% of capital. Warner Bros. declined to release the value of its stake.
The first of the theaters, built in Madrid by a partnership of Warner Bros. and Lusomundo, is already operating. PRISA will acquire a one-third equity in that theater.
