Crowd behind Creative Europe logo

European fund to support “cinemas as innovation hubs”

The European Commission has launched ‘Cinemas as innovation hubs’ which will allocate a total of €2 million to projects that test new initiatives in regard to rethinking the cinema experience. The European Commission has launched a new call for proposals titled ‘Cinemas as innovation hubs’ which will allocate a total of €2 million to projects that test new initiatives in regard to rethinking the cinema experience. The funding has been designed to empower cinemas to innovate and play a more important role in their local communities. This preparatory action or…

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Cameron Toll shopping centre – ALAMY

UK retail crisis leaves banks hesitant to fund shopping centres

Investment firm Franklin Templeton had to pull out of a £38m deal to buy an Edinburgh shopping centre after failing to raise bank debt, reflecting growing concern among lenders about the retail industry. Sources said Franklin Templeton had agreed to buy the Cameron Toll centre from Oaktree Capital, but three banks refused to lend. Retail insolvencies and store closures have spooked banks and sapped investor demand for properties, particularly in suburban shopping centres such as Cameron Toll, which changed hands for £84.5m in 2005. A bid for shopping centre owner…

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Vue Cinema Leicester Square, by Oxyman for Wikimedia Commons

Blockbuster first-half results for UK cinema chain Vue International

| UK pioneer of VIP seating, Vue has hailed record first-half results, while its acquisition strategy has paid off with the launch of a new Netherlands-based arm | Turnover for the chain was £381.8m in the 26 weeks to 26 May, showing growth of 4.4 per cent against its £365.7m in the first half of last year. Earnings before interest, tax, depreciation and amortisation (Ebitda) rose 5.7 per cent to £77.8m. Over the last twelve months Ebitda stands at £130.2m – exceeding £100m for six consecutive quarters. A €120m​(£100m) refinancing loan will help pay for the transfer of Dutch…

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