PRICE FEARS DRIVE CINEWORLD TO SELL

CINEWORLD has been forced to sell three cinemas due to fears its takeover of Picturehouse will cause it to hike ticket prices.

Watchdog the Competition Commission ruled the firm must sell venues in Cambridge, Bury St Edmunds and Aberdeen.

Yesterday Cineworld said it would ‘reluctantly’ sell its Picturehouse cinemas in Aberdeen and Bury St Edmonds but is still evaluating what to do in Cambridge.

It has decided to hoist the ‘for sale’ sign in the university city for both its larger multiplex cinema and its Picturehouse venue, which is currently showing Rush – starring Chris Hemsworth ( pictured) as motor racing legend James Hunt.

It will decide which one to sell once it has received offers.

Cineworld (down 1.75p to 367.75p) bought the Picturehouse chain for £47.3m in December.

Competition Commission deputy chairman Alasdair Smith, who is chairman of the merger inquiry group, said: ‘We listened carefully to the many local filmgoers who wrote to us or signed a petition.’