Golden Village and Cathay Cineplexes May merge While Waiting Approval From S’pore and HK
As far as the current pandemic which is causing severe damage to the cinematic industry, the latest news of Golden Village (GV) and Cathay Cineplexes which are popular among all moviegoers where they might be emerging soon to form the largest cinema operator here in Singapore.
According to The Straits Times, mm2 Asia which owns Cathay’s 8 cinemas in Singapore has entered a stage of the agreement with GV over this merging process and the agreement is a nonbinding document that outlines the terms of the tentative partnership. Whereby this merging process it would allow both companies to save up cost through this rough economy and enjoy more stability during these uncertain times.
As cinema is being hit hard by consumers where they are mostly moving towards streaming apps now. However, this deal will still get the shareholders of both mm2 Asia and Orange Sky Golden Harvest Entertainment to approve regarding this merging and also approved by both Singapore Exchange and Hong Kong Stock Exchange also.
Let hope that both cinemas can work out the best way to overcome this challenge ahead.
