CJ CGV, the largest operator of multi-screen theaters in S. Korea, will enter the Turkish market by adding Turkey’s largest cinema chain brand to its global network. CGV is already operating multiplex theaters in China, the US, Vietnam, Indonesia and Myanmar.
On April 4, CJ CGV agreed to buy a 100 percent stake in Mars Entertainment Group from the largest shareholders, including Odyssey S.A.R.L. and Mars founder Muzaffer Yildirim. CGV will pay 605 million euros for a 100 percent stake in the Turkish film company.
The acquisition will enable CJ CGV to engage in all aspects of the film industry from film screenings and investment to distribution and advertisement in Turkey.
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