SBC International Cinemas has acquired the Warner Village Cinema chain in the UK.

The purchase of 36 Warner Village sites nationwide boosts its number of multiplex cinemas from 6 to 42 with a total of 383 screens.

|The deal involves the creation of a company named Vue and the new circuit will be completely rebranded over the next six months as Vue.

Boston Ventures, which founded SBC in 1998, is providing significant additional funding for the transaction and has been joined as equal partners by Clarity Partners and Legal & General Ventures. CIBC World Markets provided the debt financing for the acquisition.

Barry Baker, chair of Vue, said: 'We are excited to the management team in buying these high quality assets, backed by experienced media and leisure investors who are committed to the growth of this company and to its mission to deliver the best cinematic experience to consumers of all ages throughout the UK.'

Millard Ochs, president of Warner Bros International Cinemas said the company is proud of the 'market-leading' circuit it had built in the UK: 'We are confident that under Vue's experienced management team, the business will grow from strength to strength. Selling our interest at this time enables us to further our strategy of seeding new markets.' Details: www.warnervillage.co.uk