Reading International, Inc. (NASDAQ:RDI) announced the closing of its
AUS$65 million (US$59.1 million) Burwood, Victoria, Australia property
sale, to an affiliate of Australand Holdings Limited.
The closing took place in Melbourne, Australia on Friday, May 23, and we
received the agreed upon closing amount of AUS$13.1 million (US$11.8
million), which included the 10% deposit of AUS$6.5 million (US$5.9
million); the GST on the sale, of AUS$6.5 million (US$5.9 million); and
the balance being closing adjustments.
As of May 23, 2014 title and ownership of the property has passed to the
purchasing affiliate of Australand Holdings. Reading retains only a
first right to provide a cinema on the site if such a cinema is to be
included in any future development.
About Reading International, Inc.
Reading International (http://www.readingrdi.com)
is in the business of owning and operating cinemas and developing,
owning and operating real estate assets. Our business consists primarily
of:
the development, ownership and operation of multiplex cinemas in the
United States, Australia and New Zealand; and
the development, ownership, and operation of retail and commercial
real estate in Australia, New Zealand, and the United States,
including entertainment-themed retail centers (“ETRC”) in Australia
and New Zealand and live theater assets in Manhattan and Chicago in
the United States.
Reading manages its worldwide business under various different brands:
in the United States, under the
Reading brand (http://www.readingcinemasus.com);
Angelika Film Center brand (http://www.angelikafilmcenter.com);
Reading International, Inc. is an entertainment and real estate company. The Company is engaged in the development, ownership, and operation of cinemas and retail and commercial real estate in the United States, Australia, and New Zealand. The Companyâs segments are Theatrical Motion Picture Exhibition (Cinema Exhibition), and Real Estate. The Cinema Exhibition segment is engaged in cinema experiences for its guests through hospitality-styled comfort and service, state-of-the-art cinematic presentation, designed venues, curated film, and event programming, and crafted food and beverage options. The Companyâs Real Estate segment is engaged in the real estate business through the development and its ownership and rental or licensing to third parties of retail, commercial, and live theatre assets. Its commercial brands include Reading Cinemas, Consolidated Theatres, Angelika Film Center, State Cinema, Angelika Anywhere, 44 Union Square, Newmarket Village, and Cannon Park.
READING INTERNATIONAL, INC. 
