Village Roadshow Limited
Encyclopedia
Village Roadshow Limited is an Australia
n media company with interests in cinema
, theme parks, film production
and distribution
. The company is a publicly listed entity on the Australian Securities Exchange
. It is majority owned by Village Roadshow Corporation, run by John and Robert Kirby and Graham Burke.
began running one of Australia's first drive-in cinemas
in the Melbourne
suburb of Croydon
. The drive-in was adjacent to a shopping strip called "Croydon Village"; hence the company adopted the "Village" name. The company later expanded into traditional cinemas in major areas, though it still operates the Coburg Drive-In in Coburg
.
In the 1960s the company started its film distribution business (once a 50-50 joint venture with Greater Union
) and moved into film production in the 1970s.
In the 1980s, Village Roadshow was one of the leading forces in creating state of the art multiplex
cinema complexes. Innovations brought in during this period included using stadium-style seating, sophisticated sound systems and the latest in projection technologies. The cinemas of that era were the forerunners to the multiplexes of today.
In 1988, Village Roadshow took over De Laurentiis Entertainment Group
, which brought on a change of name: Village Roadshow Limited. This allowed the company to raise more capital to fund further expansion.
In the 1990s, the company diversified into complementary media and entertainment businesses. This included the purchase and development of theme parks, the purchase and integration of the Triple M
and Today radio networks to create Austereo Group Limited, the creation of Village Roadshow Pictures
, and the commencement of a co-production deal with Warner Bros.
In 2003, the company incurred massive losses due to several box office flops. In 2004, a move by Village Roadshow Corporation to acquire more stock was halted by German company Boswell Filmgesellschaft, who argued that Village had misinformed shareholders about their voting rights because holders of ordinary shares who also held preference stock were excluded from voting on the buyback.
In 2008, Village Roadshow and Concord Music Group
, co-owned by television producer Norman Lear
, said they completed a merger forming a new company to exploit their film and music assets. Investors in the new company include Lambert Entertainment and private equity firms Tailwind Capital Partners and Clarity Partners
.
Australia
Australia , officially the Commonwealth of Australia, is a country in the Southern Hemisphere comprising the mainland of the Australian continent, the island of Tasmania, and numerous smaller islands in the Indian and Pacific Oceans. It is the world's sixth-largest country by total area...
n media company with interests in cinema
Film
A film, also called a movie or motion picture, is a series of still or moving images. It is produced by recording photographic images with cameras, or by creating images using animation techniques or visual effects...
, theme parks, film production
Film producer
A film producer oversees and delivers a film project to all relevant parties while preserving the integrity, voice and vision of the film. They will also often take on some financial risk by using their own money, especially during the pre-production period, before a film is fully financed.The...
and distribution
Distribution (business)
Product distribution is one of the four elements of the marketing mix. An organization or set of organizations involved in the process of making a product or service available for use or consumption by a consumer or business user.The other three parts of the marketing mix are product, pricing,...
. The company is a publicly listed entity on the Australian Securities Exchange
Australian Securities Exchange
The Australian Securities Exchange was created by the merger of the Australian Stock Exchange and the Sydney Futures Exchange in July 2006. It is the primary stock exchange group in Australia....
. It is majority owned by Village Roadshow Corporation, run by John and Robert Kirby and Graham Burke.
History
Village Roadshow commenced operations in 1954, when founder Roc KirbyRoc Kirby
Roscoe "Roc" Kirby AM was an Australian businessman who founded the Village Roadshow cinema chain and film production company....
began running one of Australia's first drive-in cinemas
Drive-in theater
A drive-in theater is a form of cinema structure consisting of a large outdoor screen, a projection booth, a concession stand and a large parking area for automobiles. Within this enclosed area, customers can view movies from the privacy and comfort of their cars.The screen can be as simple as a...
in the Melbourne
Melbourne
Melbourne is the capital and most populous city in the state of Victoria, and the second most populous city in Australia. The Melbourne City Centre is the hub of the greater metropolitan area and the Census statistical division—of which "Melbourne" is the common name. As of June 2009, the greater...
suburb of Croydon
Croydon, Victoria
Croydon is a suburb in Melbourne, Victoria, Australia, 27 km east from Melbourne's central business district. Its Local Government Area is the City of Maroondah. At the 2006 Census, Croydon had a population of 22,029.-Public transport:...
. The drive-in was adjacent to a shopping strip called "Croydon Village"; hence the company adopted the "Village" name. The company later expanded into traditional cinemas in major areas, though it still operates the Coburg Drive-In in Coburg
Coburg, Victoria
Coburg is a suburb in Melbourne, Victoria, Australia, 8 km north from Melbourne's central business district. Its Local Government Area is the City of Moreland, although a handful of properties on Coburg's Eastern boundary are located in the City of Darebin...
.
In the 1960s the company started its film distribution business (once a 50-50 joint venture with Greater Union
Greater Union
Greater Union, Birch Carroll and Coyle, Event Cinemas, Skycity Cinemas and Damodar Village Cinemas together form a chain of cinema multiplexes across Australia, New Zealand and Fiji...
) and moved into film production in the 1970s.
In the 1980s, Village Roadshow was one of the leading forces in creating state of the art multiplex
Movie theater
A movie theater, cinema, movie house, picture theater, film theater is a venue, usually a building, for viewing motion pictures ....
cinema complexes. Innovations brought in during this period included using stadium-style seating, sophisticated sound systems and the latest in projection technologies. The cinemas of that era were the forerunners to the multiplexes of today.
In 1988, Village Roadshow took over De Laurentiis Entertainment Group
De Laurentiis Entertainment Group
De Laurentiis Entertainment Group was a production company/distribution unit founded by producer Dino De Laurentiis.The company is notable for producing Manhunter, Blue Velvet, the horror films Near Dark and Evil Dead II, King Kong Lives , and Bill & Ted's Excellent Adventure, as well as...
, which brought on a change of name: Village Roadshow Limited. This allowed the company to raise more capital to fund further expansion.
In the 1990s, the company diversified into complementary media and entertainment businesses. This included the purchase and development of theme parks, the purchase and integration of the Triple M
Triple M
The Triple M Network is an active rock radio network in Australia owned by media company Austereo, who also own the Today Network.- History :...
and Today radio networks to create Austereo Group Limited, the creation of Village Roadshow Pictures
Village Roadshow Pictures
Village Roadshow Pictures is an Australian motion picture production company. It is a subsidiary of Village Roadshow Entertainment Group, an Australian entertainment company. Most of its films are co-produced in partnership with Warner Bros. and New Line Cinema...
, and the commencement of a co-production deal with Warner Bros.
Warner Bros.
Warner Bros. Entertainment, Inc., also known as Warner Bros. Pictures or simply Warner Bros. , is an American producer of film and television entertainment.One of the major film studios, it is a subsidiary of Time Warner, with its headquarters in Burbank,...
In 2003, the company incurred massive losses due to several box office flops. In 2004, a move by Village Roadshow Corporation to acquire more stock was halted by German company Boswell Filmgesellschaft, who argued that Village had misinformed shareholders about their voting rights because holders of ordinary shares who also held preference stock were excluded from voting on the buyback.
In 2008, Village Roadshow and Concord Music Group
Concord Music Group
Concord Music Group is a record company owned by Village Roadshow formed in 2004 by the merger of Concord Records and Fantasy Records. In 2005, the company acquired the classics and jazz label Telarc International. On December 18, 2006, Concord announced the re-launch of the soul label Stax;...
, co-owned by television producer Norman Lear
Norman Lear
Norman Milton Lear is an American television writer and producer who produced such 1970s sitcoms as All in the Family, Sanford and Son, One Day at a Time, The Jeffersons, Good Times and Maude...
, said they completed a merger forming a new company to exploit their film and music assets. Investors in the new company include Lambert Entertainment and private equity firms Tailwind Capital Partners and Clarity Partners
Clarity Partners
Clarity Partners, LP is a private equity firm headquartered in Beverly Hills, California that focuses on investments in media, telecommunications and business services. Clarity Partners also manages an affiliated China investment private equity fund....
.