Nu Metro changes hands

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Nu Metro Cinemas VIP offering Scene boasts its own exclusive lounge where you can relax and enjoy a drink from the bar ranging from alcoholic beverages to fresh fruit juice, teas or coffees.

JOHANNESBURG - Cinema group Nu Metro has a new owner. The current owners, Times Media Group, say the sale is part of its turnaround strategy.

It&39;s sold Nu Metro and Popcorn Advertising to Subcocept, which is a purpose-built company funded by private-equity firm, One Fifty Capital.

Times Media says the deal is worth 75-million rand, with payment spread over two years.

Nu Metro is South Africa’s second-largest movie house operator. The company has about a third of the cinema market, and owns 19 cinema complexes‚ with 149 screens.

Times Media Group also recently sold its stake in financial information provider I-Net Bridge, and retailer, Exclusive Books.

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