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Cinema Park Buys Kinostar

Cinema Park, the country's largest cinema chain, purchased rival Rising Star Media from Shari Redstone, daughter of Viacom and CBS chairman Sumner Redstone, for undisclosed terms.

The sale was completed earlier this month, Rising Star announced last week. The company, which operates as Kinostar de Lux, generates more than $100 million in annual revenue, has 75 screens between Moscow and St. Petersburg and owns the five highest grossing locations in Russia.

Massachusetts-based National Amusements entered the Russian market in 2002 and sold the Rising Star operation in 2009 to Shari Redstone, Paul Heth and investment banker Charlie Ryan.

Cinema Park was founded in 2002 and is part of ProfMedia Group. It owns 20 theaters in Russia with 169 screens in 15 cities.

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