Cinemark sells operations in Mexico to Cinemex

Texas-based Cinemark has entered into an agreement to sell its Mexico theater circuit to rival exhibitor Cinemex for an undisclosed amount.

The deal, which requires approval from antitrust regulators, would leave Mexico with just two major players in the exhibition market:

Cinemex and market leader Cinepolis.

Cinepolis, which says it's the fourth-largest theater outfit worldwide in terms of screen count, has nearly 2,600 screens in Mexico and about a 66 percent market share, according to Rentrak Mexico.

Source: Hollywood reporter