Hoyts Multi-Plex Cinemas Pty Limited - variation - s.87B undertaking

Company or individual details

  • Hoyts Multi-Plex Cinemas Pty Limited
    006 564 585
  • The Greater Union Organisation Pty Limited
    000 024 439
  • Birch Carroll & Coyle Limited
    009 659 643
  • Village Cinemas Australia Pty Limited
    006 735 002
  • Entertainment of the Future Pty Limited
    066 861 514
  • Val Morgan and Co (Aust) Pty Limited
    004 806 857
  • Media Entertainment Group Limited
    007 290 539
  • Independent Cinema Advertising Pty Limited
    060 535 882
  • Val Morgan Holdings Pty Limited
    102 805 756

Undertaking

These are Variations to the Undertakings accepted by the Commission on 13 December 2002.

The Variation provides for the closure of the Val Morgan slide advertising business.

Val Morgan will:

  • honour existing contractual obligations to exhibitors and advertisers;
  • honour their contractual obligations to Independent Exhibitors and, where required by those obligations, continue to pay agreed minimum guarantee payments where there is no mechanism to adjust the minimum guaranteed payment as a result of ceasing to sell any further slide advertisements for exhibition on the screens of the Independent Exhibitor.

In addition:

  • Val Morgan are to provide reasonable notice (2 months) to exhibitors as soon as possible that Val Morgan will not continue to sell slide advertising; and
  • that all existing contracts with advertisers (including those entered into during the notice period) being honoured and allowed to continue after the date on which Val Morgan cease to sell slide advertising until their contractual obligations are satisfied

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