The prestigious British arthouse cinema chain Curzon has been acquired by New York-based investment firm Fortress for a mere £3.9 million, raising eyebrows across the UK film industry. The transaction, executed through a foreclosure auction of Cohen Realty Enterprises’ assets, represents what industry insiders are labelling an exceptional bargain for a company boasting 350 employees, 16 venues, and 58 screens.
The deal marks a significant shift in ownership for the 90-year-old cinema organisation, which has built its reputation on delivering high-calibre international films to discerning audiences since 1934. The company’s strategic acquisition of Artificial Eye in 2006 and subsequent launch of a streaming service in 2010 demonstrated its forward-thinking approach under former CEO Philip Knatchbull’s leadership.
Market analysis suggests the arthouse cinema sector remains commercially viable, particularly when targeting affluent demographics. Recent successes include an 18-week run of ‘La Chimera’ at Curzon Bloomsbury and strong performances from investments such as ‘Kneecap’ and ‘My Favourite Cake’, proving the enduring appeal of non-mainstream cinema.
The transition comes at a crucial moment as the chain faces uncertainty over its flagship Curzon Mayfair location. The Grade II listed building’s landlord, 38 Curzon Lease, seeks redevelopment into a hybrid cinema-dining establishment, potentially excluding Curzon’s involvement. The cinema’s status as an “asset of community value” has prompted objections to Westminster City Council.
Industry observers remain cautiously optimistic about Fortress’s acquisition, suggesting the new ownership could inject fresh capital and strategic vision into the beloved British cinema institution. The relatively modest purchase price may provide ample headroom for future investment and expansion in the specialised film exhibition sector.
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