PAG-Backed Xingyi Cinema Nears Majority Stake In Broadway Circuit China Business

Shanghai Xingyi Cinema Management is close to acquiring a majority stake in Broadway Circuit's mainland China business, according to Bloomberg, citing people familiar with the matter. The people said Broadway Circuit, controlled by Hong Kong film distributor Edko Films, operates 29 cinemas in mainland China, with several new sites under preparation. The deal would lift Xingyi Cinema's total number of cinemas to nearly 200. Xingyi, backed by private equity firm PAG, plans to expand in first-tier cities and attract new audiences to strengthen its mass-market network. The two cinema chains are expected to continue operating independently after the transaction, ETNet reported.