Cinema City International
Cinema City International is a Netherlands-based cinema and entertainment group established by the Greidinger family, formerly one of Europe’s largest multiplex operators.
Last updated October 30, 2026
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Overview
Cinema City International is a cinema and entertainment company associated with the Greidinger family, whose exhibition business developed from a long-running Israeli cinema operation into a major multiplex network across Central and Eastern Europe. The company is headquartered in Rotterdam and historically operated cinemas under the Cinema City name in several European markets, while its Israeli operations used the Planet and Rav-Chen banners. Before the sale of its cinema operations, the group was described as the third-largest film exhibitor in Europe, with 99 multiplexes and 966 screens across Central and Eastern Europe and Israel. The group’s origins predate the Cinema City International corporate structure by several decades. Moshe Greidinger began constructing cinemas in Haifa in 1929, opening the Ein Dor cinema in 1931. In 1935, the family opened the large Armon Cinema in Haifa, an art-deco venue with approximately 1,800 seats that became an important entertainment venue in the city. The family expanded to Tel Aviv in 1958 through the acquisition of the Chen cinema at Dizengoff Square and later developed additional Israeli sites. In 1982, the Chen venue became Israel’s first multiplex, marking an early transition from traditional single-screen cinemas to multi-screen exhibition. The family entered film distribution in 1967 through the acquisition of Forum Film. That business later became an important part of the group’s vertically integrated model, alongside cinema advertising through New Age Media. Forum Film and related distribution operations handled theatrical releases in Israel and, through Forum Hungary, in Hungary. In 2005, Forum Hungary represented distributors including Disney, Spyglass and Revolutionary Releasing and became one of Hungary’s leading film distribution companies during the first half of 2006. Cinema City International began its international expansion in 1997, opening its first international cinema in Budapest, Hungary. It expanded into Poland in 1999 and acquired the only multiplex operating in Prague at that time. By 2005, it had become Hungary’s largest multiplex operator and had built a substantial Polish network. The group subsequently operated cinemas in Bulgaria, Romania and Slovakia, using large multiplex formats and developing associated commercial and real-estate interests. The company went public on the Warsaw Stock Exchange in December 2006. Poland had become its largest market and accounted for roughly 40 percent of group revenue at the time of the listing, making Warsaw a strategically relevant venue for the offering. The IPO raised approximately $106 million at a post-money valuation of about $343 million, based on the contemporary reference account. In 2014, Cinema City International agreed to sell its cinema business to the British exhibitor Cineworld in a cash-and-stock transaction valued at approximately £503 million. Cinema City International transferred its exhibition operations while retaining its real-estate portfolio and receiving an approximately 24.9 percent minority interest in Cineworld Group. Moshe Greidinger, the group’s chief executive, became chief executive of Cineworld. The retained assets included property interests in Bulgaria, Israel and Poland, including the Mall of Rousse, development land in Poland, an indirect interest in Ronson Europe NV, an office building in Herzliya and other Israeli properties. Following the transaction, Cinema City International’s identity became more closely associated with its holding, property and legacy interests than with direct operation of the former Cinema City cinema network. The Cinema City banner continued within the Cineworld portfolio in relevant markets, while Israeli operations were associated with Planet and Rav-Chen. The company and its distribution subsidiary Forum Film also faced competition-law consequences connected with a 2010 acquisition of the Matalon distribution business. In December 2022, Forum Film and Moshe Greidinger were reported to have received fines and a six-month suspended sentence for violating competition-law conditions associated with that transaction. The company listed on the Warsaw Stock Exchange in December 2006. Poland had become its largest market, accounting for approximately 40 percent of group revenue at the time of the listing, making Warsaw a strategically relevant location for the offering. The IPO raised approximately $106 million and valued the company at approximately $343 million on a post-money basis according to contemporary accounts. After the transaction, Cinema City International’s identity became more closely associated with its holding, real-estate and legacy interests than with direct operation of the former Cinema City network. The Cinema City brand continued within Cineworld’s portfolio in the relevant markets, while Israeli operations were associated with Planet and Rav-Chen. The company and its distribution subsidiary Forum Film also faced competition-law consequences related to the 2010 acquisition of Matalon’s distribution business. In December 2022, Forum Film and Moshe Greidinger were fined and given a six-month suspended sentence for violations connected with conditions imposed on that acquisition, including alleged coordination intended to stop a competing cinema chain from screening eight films distributed by Forum Film.
History
Cinema City International grew out of the Greidinger family’s cinema and film-distribution activities in Israel. Moshe Greidinger began building a cinema in Haifa in 1929, and the Ein Dor venue opened in 1931. The family added the Armon Cinema in Haifa in 1935. With approximately 1,800 seats, Armon became a major local entertainment venue and was also used for performances by the Israel Philharmonic Orchestra and the Israeli Opera. The family entered Tel Aviv in 1958 by acquiring the Chen cinema at Dizengoff Square. It continued to expand its Israeli presence, including the opening of another Armon cinema in Ramat Gan during the mid-1960s. In 1967, it diversified into film distribution by acquiring Forum Film. The family’s exhibition business adopted the multiplex model early: in 1982, the Chen cinema was converted into Israel’s first multiplex. Cinema City International N.V. was established in 1997 as the vehicle for international expansion. Its first international cinema opened in Budapest, Hungary. The company expanded into Poland in 1999 and, in the same year, acquired the only existing multiplex in Prague. By 2005 it was Hungary’s largest multiplex operator and operated 12 multiplex cinemas in Poland. It later expanded its exhibition footprint into Bulgaria, Romania and Slovakia. The group also developed related distribution and advertising operations. Forum Hungary opened in Budapest in 2005 and represented several international film distributors, including Disney, Spyglass and Revolutionary Releasing. During the first six months of 2006, it became Hungary’s second-largest film-distribution company. New Age Media provided cinema advertising services, supporting the group’s broader entertainment platform. Cinema City International completed an initial public offering on the Warsaw Stock Exchange in December 2006. The offering was priced at 19.30 Polish zloty per share and raised approximately $106 million, giving the company a post-money valuation of approximately $343 million according to the contemporary account. Warsaw was selected in part because Poland had become the company’s most important market, contributing about 40 percent of group revenue at that stage. The company’s cinema expansion was accompanied by real-estate investments. These included holdings in Bulgaria, Israel and Poland, such as the Mall of Rousse, development plots in Bulgaria, land intended for an amusement-park project in Poland, an indirect 39.78 percent interest in Ronson Europe NV, an office building in Herzliya and additional Israeli properties. In January 2014, Cineworld agreed to acquire Cinema City International’s cinema operations in a transaction valued at approximately £503 million. The structure combined cash and shares. Cinema City retained its real-estate assets and acquired an approximately 24.9 percent minority holding in Cineworld Group. Moshe Greidinger moved into the role of Cineworld chief executive. The transaction shifted direct ownership of the cinema network to Cineworld, while the Cinema City corporate entity retained property and investment interests. The former exhibition operations used different local banners. Cinema City remained the principal brand in Central and Eastern Europe, while Israeli cinemas operated under Planet and Rav-Chen names. Forum Film continued to represent the group’s distribution heritage. In December 2022, Forum Film and Moshe Greidinger were sentenced in connection with competition-law violations relating to the 2010 acquisition of Matalon. The reported violations concerned non-compliance with merger conditions and alleged efforts to keep a competing cinema chain from screening eight films distributed by Forum Film.
- 2022
Competition-law sentencing
[1]Forum Film and Moshe Greidinger were sentenced over reported breaches of competition-law conditions tied to the Matalon acquisition.
- 2014
Cinema business sold to Cineworld
[1]Cineworld acquired the company’s cinema operations, while Cinema City retained real-estate assets and took a minority stake in Cineworld.
- 2006
Warsaw Stock Exchange IPO
[1]The company raised approximately $106 million through an initial public offering in Warsaw.
- 2005
Forum Hungary opens
[1]The group opened a distribution office in Budapest and expanded its Hungarian film-distribution operations.
- 1999
Expansion into Poland and the Czech Republic
[1]Cinema City International entered Poland and acquired the only existing multiplex in Prague.
- 1997
Cinema City International begins international expansion
[1]The company opened its first international cinema in Budapest, Hungary.
- 1982
Israel’s first multiplex conversion
[1]The Chen cinema was converted into Israel’s first multiplex.
- 1967
Entry into film distribution
[1]The family acquired Forum Film and added film distribution to its cinema activities.
- 1958
Expansion to Tel Aviv
[1]The family entered Tel Aviv by acquiring the Chen cinema at Dizengoff Square.
- 1935
Armon Cinema opens in Haifa
[1]The family opened a large art-deco cinema with approximately 1,800 seats.
Products and positioning
A large-scale cinema exhibition and entertainment platform built around multiplex operations, film distribution, advertising and supporting property assets, with historic strength in Israel and Central and Eastern Europe.
Cinema exhibition · 1997
Cinema City multiplexes
The Cinema City banner represented the group’s principal multiplex network in Central and Eastern Europe. Before the 2014 sale to Cineworld, the wider exhibition business comprised 99 multiplexes and 966 screens across the region and Israel. The venues formed the core customer-facing business, combining multi-screen film programming with the scale efficiencies of modern multiplex operations.
Cinema exhibition
Planet
Planet was one of the banners used for the group’s Israeli cinema operations. It belonged to the Israeli exhibition portfolio developed from the Greidinger family’s long-standing cinema business and continued the group’s multiplex-oriented approach in the domestic market.
Cinema exhibition
Rav-Chen
Rav-Chen was another Israeli cinema banner associated with Cinema City International’s exhibition activities. It formed part of the local network that complemented the Cinema City and Planet brands in Israel.
Film distribution · 1967
Forum Film
Forum Film was acquired by the Greidinger family in 1967 and provided theatrical film-distribution capabilities alongside cinema exhibition. Its activities extended to Hungary through Forum Hungary, which represented several international distributors and became one of Hungary’s leading distribution companies in 2006.
Cinema advertising
New Age Media
New Age Media was the group’s cinema-advertising subsidiary. It supported the commercial side of the exhibition network by selling advertising opportunities associated with Cinema City and related cinema venues.
Controversies
2022
Forum Film competition-law case
Forum Film and Moshe Greidinger were reported to have been fined and given a six-month suspended sentence for violations connected with conditions imposed on Forum’s 2010 acquisition of competing distributor Matalon. The case concerned alleged coordination intended to stop a competing cinema chain from screening eight films distributed by Forum Film.
Brand decisions
2014
Sell the cinema exhibition business to CineworldM&ABackground
Cinema City International sought to separate its cinema operations from its retained real-estate and investment assets through a transaction with British exhibitor Cineworld.
Action taken
The company sold its cinema business in a cash-and-stock deal valued at approximately £503 million and received an approximately 24.9 percent stake in Cineworld while retaining real-estate assets.
Aftermath
Cineworld became the owner of the transferred exhibition network, and Moshe Greidinger became Cineworld’s chief executive.
Transaction value. Approximately £503 million (2014)
2006
List the company on the Warsaw Stock ExchangeStrategyBackground
Poland had become the group’s largest market, accounting for approximately 40 percent of total revenue around the time of the listing.
Action taken
Cinema City International completed an initial public offering in Warsaw at 19.30 Polish zloty per share.
Aftermath
The offering raised approximately $106 million and gave the company a reported post-money valuation of about $343 million.
IPO proceeds and post-money valuation. $106 million raised; approximately $343 million post-money valuation (December 2006)
1982
Convert Chen cinema into a multiplexGeneration changeBackground
The family’s traditional cinema business was adapting to the emerging multi-screen exhibition model in Israel.
Action taken
The Chen cinema was converted into Israel’s first multiplex.
Aftermath
The conversion established an early foundation for the family’s later multiplex expansion in Israel and Europe.
Recent events
- Unconfirmed
Cinema City acquires Cine Gold multiplex in Promenada Mall Sibiu[2]
Cinema City is acquiring the Cine Gold multiplex in Promenada Mall Sibiu, which will become its 30th location in Romania, as part of a EUR15 million investment program.
Sources2 sources
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