Abbeygate Picturehouse in Bury St Edmunds has been sold following a decision by the Competition Commission (CC).
The sale was forced by the CC after it ruled that Cineworld’s take over of City Screen, which ran the Picturehouse chain, could have led to a lack of competition and higher ticket prices in the town.
The new owners, led by former City Screen founding partner Tony Jones, announced the sale on Tuesday, saying it was ‘very much business as usual’ for the now Abbeygate Cinemas.
They plan to have a ‘seamless transition’ with the popular venue’s mix of arthouse, independent and quality mainstream film programming being retained.
Pat Church, Abbeygate general manager, said: “After months and months of hard work, it’s finally come to fruition.
“What a brilliant outcome for Bury because we’re going to carry on in the same vein.”
The cinema’s membership scheme will be continued, with members’ existing benefits being honoured including free tickets, priority booking and discounts on food and drink.
Mr Church said: “I’ve known Tony for several years and I think he’ll be a good asset for us. He’s got the interest and I think we’ll have a good partnership with him.”