Harry Potter , characters and elements are trademarks of and © Warner Bros. Entertainment Inc. Harry Potter Publishing Rights © JKR. EVER dreamt of owning a cinema? The company has an ambitious expansion program at its Gold Coast theme parks. Village Roadshow said its board believed it was in shareholders’ interests to hold talks with PEP to determine if a firm offer could be made, and … Robert and former CEO Graham Burke are co-chairmen of the business, and Clark Kirby is the chief executive. Australia's biggest movie and home entertainment company. PEP has already agreed to buy a 19% stake (at A$3.90 per share) from Village Roadshow Corporation, a privately-owned company that … Insiders own AU$54m worth of shares in the AU$492m company. Village Roadshow is now worth $553 million, while Event is valued at $2.1 billion. China relations, Nuix, plastic pollution, Liberal Dries, budget deficits. Tonagh says the changed industry dynamics in cinemas was the key question which exercised the Village board of directors as it examined the BGH takeover offer and compared it with the status quo. For a common shareholder, it is worth checking how many shares are held by company insiders. International students are wary of how countries respond to COVID-19 outbreaks and are now hedging their bets. The films in the Village Roadshow library have achi… Robert Kirby’s son Clarke is also involved in the business, now managing Village Roadshow’s theme park operations, and has been tipped as a possible successor to head the company. Among its interests and activities, Village Roadshow owns 31% of the New York-based sales and production company FilmNation, and a 24% stake in iPic, … Together, the Kirby brothers and Mr Burke control about 42 per cent of Village Roadshow, through a combination of direct shareholdings and their ownership of Village Roadshow Corp, which speaks for 34 per cent of the ASX-listed company. You’ve been with Village Roadshow a while, what are some of the highlights? I have just celebrated 26 years at Village and I am always asked why I have stayed so long. He was the public face of a successful takeover of AAP by a group of business people and philanthropists. "We are on a very positive trajectory as demonstrated by the ticket sales of the most important category, which is the annual and multi-day passes," he said. In January, when Village was facing competing takeover offers from BGH and Pacific Equity Partners, the company had a positive growth story and a stated intention to reduce its debt. The company had to draw down $70 million on its debt facility in order to get through the period when its cinemas and theme parks were closed. Along with Mr Burke, the brothers own a combined 42 per cent stake in the company. Village Roadshow chief executive Graham Burke has led the company for three decades.Credit:Eddie Jim. But Australia is off limits to many in China. Village Roadshow Pictures is an American co-producer and co-financier of major Hollywood motion pictures, established in 1986. Tonagh, a former News Corp executive and former CEO of Foxtel, has witnessed plenty of disruption in his career. Market analysts have been scathing of Village Roadshow management in recent months, including brokers at investment bank CLSA, who told clients that the quality of the company’s assets “has never been in question – it is the management of these assets that is the issue”. Village Roadshow's lead independent director, Peter Tonagh, has capped a big year with the successful completion of the BGH Capital takeover of the cinema and theme park operator. BGH will have to spend money to make money at Village. He said the company had endured two difficult years due to an "act of God" following the 2016 Thunder River Rapids tragedy at Dreamworld. But at least BGH can tap the lowest cost of capital in the world. The bitter family feud could reshape the company, which owns a string of cinemas in Victoria, operates Warner Brothers Movie World, Sea World and Wet ‘n’ Wild Gold Coast, and runs a studio where Aquaman and Thor: Ragnarok were filmed, among other productions. Village Roadshow has lost more than $500 million in market value over the past five years, with its share price crashing from $7.15 to as little as $1.77 in July. Now a division under Village Roadshow Entertainment Group (VREG), it has produced over 100 films since its establishment in 1986 including, as co-productions with Warner Bros., The Matrix series, the Sherlock Holmes series, the Happy Feet series, the Ocean’s series, The Lego Movie and Joker. It is understood Arnold Bloch Leibler, which assisted Solomon Lew’s Premier Investments in its pursuit of department store chain Myer, has provided advice on Village Roadshow’s corporate governance arrangements. Village Roadshow could be forced to offload its struggling movie production business, behind films such as Zoolander and Ocean's 8, with members of the wealthy Kirby family that controls the sprawling entertainment heavyweight feuding over the best way to restore its lacklustre performance. It appears that Village Roadshow insiders own 10% of the company, worth about AU$61m. The BGH deal, priced at $3 a share, which was recommended by the Village Roadshow board, put an end to the family feud between John Kirby and Robert Kirby. The business has been incredibly dynamic and entrepreneurial. In the Village deal, Tonagh provided much-needed independent governance as the 66-year-old company founded by Roc Kirby moved into the ownership of private equity. Village Roadshow Pictures-Wikipedia. Also upcoming with Warner Bros. is Sherlock Holmes 3 with director Dexter Fletcher. Mr Burke said John Kirby was a "very disgruntled and bitter individual" and pointed to a recovery in the theme park business to highlight a "dramatic turnaround" for Village Roadshow. Since Mr Kingston's appointment, considerable pressure has been brought to cut costs and capital expenditure, pushing the share price to $2.94, its highest point since April last year. The top offer on the table was $4 a share from BGH. "The board has full confidence in management," Mr Burke said. Village Roadshow Pictures, after a period of financial difficulty, is now controlled by American private equity outfits Vine Alternative Investments and Falcon Investment Advisors. Village Roadshow chief executive Graham Burke has led the company for three decades. Village Roadshow Entertainment Group was founded by Village Roadshow Limited and owns Village Roadshow Pictures Entertainment, which controls Village Roadshow Pictures. Village Roadshow Theme Parks (VRTP) is Australia’s largest theme park operator, providing some of the world's most thrilling entertainment rides and slides to over 5 million visitors per year. But then COVID-19 hit. The company will use the proceeds from the sale to reduce debt, and completion is expected by the year end, Village Roadshow said. 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They each own a third of Village Roadshow … Village Roadshow reported a net profit of $219,000 last year, and a loss of $67 million a year earlier. Kylar Loussikian is The Sydney Morning Herald's CBD columnist. The value of the ASX-listed company dived from $1.2 billion in 2014 to just $370 million at the end of the last financial year, when Village Roadshow was forced to put Wet ‘n’ Wild Sydney up for auction. Rhett Wyman. It was clearly better for shareholders to take the cash. Follow updates here. The woman who provided intensive care to Boris Johnson when he was seriously ill with COVID-19 has attacked his government’s poor response to the pandemic. Mr Burke has been chief executive for almost 30 years, well beyond the average tenure of bosses of publicly-listed companies. A notice to the ASX yesterday reveals that US group, Mittleman Investment Management increased its stake in Village Roadshow last week from 12.9% to 14.4% after buying 2.8 million shares through its subsidiary Aimia Inc. The changes would include the sale of Village Roadshow's British marketing business, its stake in the American iPic Theatres premium cinema outfit, and its Hollywood holdings. Village Roadshow owns and operates Warner Bros. Movie World on the Gold Coast. In the Village deal, Tonagh provided much-needed independent governance as the 66-year-old company founded by Roc Kirby moved into the ownership of private equity. Village Roadshow owns the nearby Sea World, Movie World and Wet n Wild theme parks and it is understood that Ardent has for some time been eager to … Our most recent data indicates that insiders own a reasonable proportion of Village Roadshow Limited. Experience the Southern Hemisphere’s biggest collection of thrill rides, slides, shows and animal experiences, including more great attractions coming soon! Wet 'n' Wild in Sydney was a financial disaster for Village Roadshow, and was last year sold for just $37 million to Spanish firm Parques Reunidos. This structure means that BGH co-founders Ben Gray, Robin Bishop and Simon Harle can tap into the valuable corporate memory and networks of the Kirby family and Burke. The big shareholder groups in Village Roadshow Limited have power over the company.Generally speaking, as a company grows, institutions will increase their ownership. Cinemas were struck a particularly heavy blow because the pandemic changed consumer attitudes to viewing video content. The use of mobile phone apps has surged in recent years, helping a new generation into investing, but desktop computers remain a favourite of traders. LIVIN is hitting the ground running this year with mental health awareness for 2021 after being announced as an official charity partner for the 2021 Village Roadshow Gold Coast Theme Parks Gold Coast Marathon.”We are excited to be a part of this fantastic event and the awesome atmosphere of the Gold Coast Marathon weekend.” Over the course of the years we have bought and sold businesses, gone through IPOs and delisted companies. Village Roadshow, which owns Movie World and Wet’N’Wild on the Gold Coast, on Thursday entered into a trading halt related to the takeover offer from BGH Capital. John Kirby resigned as a Village Roadshow executive in 2015. Last week's decision by Warner Bros to release its entire 2021 movie slate simultaneously in cinemas and on streaming video service HBO Max, tells you the cinematic world will never be the same. Family behind Village Roadshow in feud over company's future. There is something for everyone at Village Roadshow Theme Parks- … A company founded in Melbourne in 1954 with the opening of a drive-in cinema, fell into the hands of private equity largely because COVID-19 killed the cinema. Tonagh's success at Village comes less than six months after he was heavily involved in the rescue of AAP, the 85-year-old newswire. They found themselves locked together in a trust which controlled the Kirby family shareholding in Village. Village Roadshow was forced last year to write down to zero its investment in Hollywood film production house Village Roadshow Pictures even though it has been responsible for blockbuster movies including Ocean’s 8, The Lego Movie, The Great Gatsby and Zoolander. Over 120 Rides, Slides and Shows. The ASX-listed entertainment company acquired exclusive rights in 2016 to bring Topgolf to Australia. "Village would benefit from an independent chairman and the injection of some new senior management.". Clark Kirby's early appointment does have the support of major shareholder Vijay Vijendra Sethu, who owns 5.1 per cent of Village shares. Village Roadshow Ltd on Friday said it has received an unsolicited buyout offer from a private equity firm that valued the Australian movie theater and theme park operator at … The BGH shareholding structure for the vehicle that now owns Village includes separate shareholdings for John and Robert Kirby. Village Roadshow lost more than $500 million in market value over five years.Credit:Scott McNaughton. In February 2008 Village Roadshow acquired Sydney Attractions Group and now owns Sydney Aquarium, the Sydney Tower and other attractions. BGH Capital’s move comes in the wake of PEP striking a pre-Christmas option deal with the Kirby family-controlled Village Roadshow Corporation, which owns a major stake in the listed Village Roadshow that gave it an option over a 19 per cent stake in the company. Village Roadshow lost more than $500 million in market value over five years. We’re sorry, this service is currently unavailable. Please try again later. In happier times: John Kirby, left, and Robert Kirby at the Village Roadshow AGM in 1998. It also owns 31% of New York-based sales and production company FilmNation, and 20% of Village Roadshow Entertainment Group (VREG), a U.S-based content development and production firm. Based on Roald Dahl's 1983 classic book 'The Witches', the story tells the scary, funny and imaginative tale of a seven year old boy who has a run in with some real life witches! John Kirby — the older of two brothers who control the outfit founded by their father, Roc Kirby — is pushing for a sell-off of the company’s film production business and the removal of long-time chief executive Graham Burke, according to sources familiar with his plans. Village Roadshow - which owns theme parks including Warner Bros. Movie World and Sea World on the Gold Coast - has issued two profit warnings this year. It is great to see insiders so invested in the business. Village Roadshow owns and operates the popular theme parks on Queensland's Gold Coast: Warner Bros. Movie World, Sea World, … Follow the topics, people and companies that matter to you. Event, which operates cinemas of the same name in NSW and Queensland as well as Rydges and QT hotels and the Thredbo snow fields, had half the value of Village Roadshow in 2000. More importantly, it changed the mindset of film content makers. SPLASHTACULAR and all related indicia are trademarks of and © Village Roadshow … Mr Burke also backed Village Roadshow's ownership of the iPic and Hollywood production stakes, and said the latter "has strong medium-term prospects and no requirement for investment". Chairman of Village Roadshow Corporation Pty. Village Roadshow stood up a real-time analytics system in the weeks prior to opening its first Topgolf driving range on the Gold Coast last year after encountering “localisation” problems with the system run by Topgolf’s US operations. Robert Kirby opposes the changes, according to board sources. Village Roadshow co-pro The Matrix 4 re-started production this week in Berlin following the pandemic hiatus. Insider Ownership. "[However], they have been diluted by too much focus on Village's film and distribution investments and other non-core assets," said Mr Kingston, who runs K Capital. Village Roadshow Pictures has produced successful titles including The Matrix trilogy, the Ocean's trilogy, Charlie and the Chocolate Factory , Happy Feet , Get Smart , I am Legend , Sherlock Holmes , The Great Gatsby and The Lego Movie . CCZ Equities analyst Roger Colman compared Village Roadshow to another local diversified cinema operator, Event Hospitality and Entertainment, controlled by the rich-list Rydge family. Village Roadshow Having acquired 100 percent of the theme parks in mid-2006, Village Roadshow remains Time Warner’s licensed partner for the Warner Bros. Movie World property in Australia. I reckon it's a good sign if insiders own a significant number of shares in the company. Mr Kirby, a former Village Roadshow executive, late last year engaged former Rothschild & Co investment banker David Kingston and major Melbourne commercial law firm Arnold Bloch Leibler to push for major changes at the company, which is chaired by his brother Robert Kirby. Wet 'n' Wild in Sydney was a financial disaster for Village Roadshow, and was last year sold for just $37 million to Spanish firm Parques Reunidos.Credit:Nic Walker. village roadshow entertainment group is one of the leading independent entertainment companies in the world Cinemas owned by Village Roadshow founders in Sorrento, Rosebud on the market. John and Robert were unable to act independently and this caused plenty of friction. John Kirby's and Mr Kingston’s preference would be to bring in an independent executive to run the company if Mr Burke departs. The Kirby brothers have been mainstays of Australian rich lists, with a fortune of more than $500 million tied closely to the value of their investment in Village Roadshow. But he would never have seen an industry turned on its head in the space of nine months as happened with cinemas. Ltd. Mr. Kirby has held a wide number of executive positions in cinema exhibition, film distribution, radio, theme parks, construction and strategy over his 45 years within Village Roadshow, and has been at the forefront of many of the Group’s successful growth outcomes today. John Kirby declined to comment but Mr Kingston confirmed his appointment and told The Age and The Sydney Morning Herald that "the cinemas and theme parks are quality assets". When it comes to security, VRTP have always chosen world leading access control and perimeter supplier Gallagher as their long-term partner. Village Roadshow's lead independent director Peter Tonagh steered the company through a tumultuous period. Village Roadshow has access to some exclusive IP through its ownership of the Rysher Entertainment library, among other holdings. Robert Rough. 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