SINGAPORE:  , Cathay Cineplexes ‘ parent company mm2 announced on Friday ( Oct 18 ) its acquisition and takeover of operations at WE Cinemas ‘ 321 Clementi outlet.
It will take result from Nov 1, when the film will remain businesses as , Cathay Cineplexes Clementi 321, mm2 and Eng Wah Global , said in a joint declaration.
The package shows mm2’s” continued trust in the theater company and our steadfast belief that blockbusters may return to our screens quickly”,  , Melvin Ang, the media company’s executive chairman, said.
Deadpool &, Wolverine, the next biggest picture of the year, was a significant lack from Cathay Cineplexes ‘ stone of movie earlier in the year. This was a “business choice”, a Cathay Cineplexes director told CNA next.
Mr Ang said that , 321 Clementi was” also located in the heart of Clementi,  , in a well-positioned land which serves a good spread of public and private accommodation estates, colleges and colleges, and is the nearest to town for all our other cinemas operating today”.
Mr Ang said that the , film company has yet to recuperate entirely in the years since the COVID-19 crisis, citing factors like , restricted power occupancies due to social distancing,  , strikes in Hollywood that resulted in a blockbuster shortage and the changing consumer habits of filmgoing audiences.
” The company treatment is taking longer than expected”.
Recently, the company has seen a rise at the box company as well as several renowned acquisitions, joint endeavors and large-scale film development plans in the US, China and Southeast Asia,  , mm2 noted.