Vue’s monopoly is broken after sell-off (From This is Hampshire)

Vue’s monopoly is broken after sell-off

2:25pm Monday 2nd October 2006 in News By Alex Kalinik

A BASINGSTOKE cinema complex has changed hands after an industry watchdog ordered Vue to break its monopoly in the town.

In February, The Gazette reported that the Competition Commission had ordered Vue to sell either its Festival Place or Basingstoke Leisure Park multiplex to avoid the possibility of higher prices and lower-quality service for customers.

Vue acquired the Festival Place site when it bought out the previous owner, Ster Century, in April last year.

Now, a deal has been sealed for rival cinema chain Odeon to take over ownership of the 10-screen leisure park facility.

Katie Walker, general manager of the new Basingstoke Odeon, said: "We are delighted to become the first Odeon in Basingstoke and are extremely pleased about the investment Odeon is making into our cinema.

"The entire team is looking forward to welcoming the residents of Basingstoke to the Odeon experience."

‘We are delighted to become the first Odeon in Basingstoke’

Odeon’s Katie Walker

Odeon bosses have not disclosed how much the firm paid for the leisure park complex. However, as part of the takeover, the interior of the cinema will be refitted with a new refreshment and retail area as well as ultra-plush Odeon Premier seating.

All of the existing cinema staff have been retained during the handover and new Odeon signs will be erected once planning permission has been granted.