Village Roadshow
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| Type | Public (ASX: VRL) |
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| Industry | Media, Entertainment |
| Founded | Croydon, Victoria, Australia (1954) |
| Founder(s) | Roc Kirby |
| Headquarters | Melbourne, Australia (headquarters) |
| Key people | Robert G. Kirby, CEO |
| Products | Cinemas, Radio, Themeparks, Film Distribution, Film Studio |
| Revenue | A$1,256 million (2010, [1]) |
| Website | www.village.com.au |
Village Roadshow Limited ASX: VRL is an Australian media company with interests in cinema, theme parks, film production and distribution. The company is a publicly listed entity on the Australian Securities Exchange. It is majority owned by Village Roadshow Corporation, run by John and Robert Kirby and Graham Burke.
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[edit] History
Village Roadshow commenced operations in 1954, when founder Roc Kirby began running one of Australia's first drive-in cinemas in the Melbourne suburb of Croydon. The drive-in was adjacent to a shopping strip called "Croydon Village"; hence the company adopted the "Village" name. The company later expanded into traditional cinemas in major areas, though it still operates the Coburg Drive-In in Coburg.
In the 1960s the company started its film distribution business (once a 50-50 joint venture with Greater Union) and moved into film production in the 1970s.
In the 1980s, Village Roadshow was one of the leading forces in creating state of the art multiplex cinema complexes. Innovations brought in during this period included using stadium-style seating, sophisticated sound systems and the latest in projection technologies. The cinemas of that era were the forerunners to the multiplexes of today.
In 1988, Village Roadshow took over De Laurentiis Entertainment Group, which brought on a change of name: Village Roadshow Limited. This allowed the company to raise more capital to fund further expansion.
In the 1990s, the company diversified into complementary media and entertainment businesses. This included the purchase and development of theme parks, the purchase and integration of the Triple M and Today radio networks to create Austereo Group Limited, the creation of Village Roadshow Pictures, and the commencement of a co-production deal with Warner Bros.
In 2003, the company incurred massive losses due to several box office flops.[citation needed] In 2004, a move by Village Roadshow Corporation to acquire more stock was halted by German company Boswell Filmgesellschaft, who argued that Village had misinformed shareholders about their voting rights because holders of ordinary shares who also held preference stock were excluded from voting on the buyback.
In 2008, Village Roadshow and Concord Music Group, co-owned by television producer Norman Lear, said they completed a merger forming a new company to exploit their film and music assets. Investors in the new company include Lambert Entertainment and private equity firms Tailwind Capital Partners and Clarity Partners.[1]
[edit] Assets
[edit] References
- ^ Tourtellotte, Bob (7 February 2008). "Village Roadshow, Concord Music complete merger". Reuters (Los Angeles: Thomson Reuters). http://www.reuters.com/article/privateEquity/idUSN0742922320080208.
