Cineworld Group plc
11 December 2007
Embargoed until 7am
11 December 2007
Renegotiation of contract with Carlton Screen Advertising
Cineworld Group plc ('Cineworld') announces that it has been approached by
Carlton Screen Advertising ('CSA') and its sole shareholder ITV with a proposal
materially to amend the terms of its existing contract, which is due to expire
in January 2011. The next payment under the contract, for the six month period
to June 2008, is due on 23 December 2007.
To enable the parties to work towards a mutually acceptable solution, Cineworld
has agreed in principle to accept payment in the short term on a month by month
basis while negotiations are ongoing. If at any point CSA fails to fulfil its
obligations under the contract Cineworld will seek to enforce its rights.
Cineworld's financial results for the current year will be unaffected.
-Ends-
Contact:
M Communications Nick Miles 020 7153 1530
1 Ropemaker St
London, EC2Y 9HT Georgina Briscoe 020 7153 1548
Briscoe@MComGroup.com
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