Undertaking date
Undertaking type
s.87B undertaking
Reference number
D04/1836
Section
s. 50
Company or individual details
-
Name
Hoyts Multi-Plex Cinemas Pty LimitedACN
006 564 585 -
Name
The Greater Union Organisation Pty LimitedACN
000 024 439 -
Name
Birch Carroll & Coyle LimitedACN
009 659 643 -
Name
Village Cinemas Australia Pty LimitedACN
006 735 002 -
Name
Entertainment of the Future Pty LimitedACN
066 861 514 -
Name
Val Morgan and Co (Aust) Pty LimitedACN
004 806 857 -
Name
Media Entertainment Group LimitedACN
007 290 539 -
Name
Independent Cinema Advertising Pty LimitedACN
060 535 882 -
Name
Val Morgan Holdings Pty LimitedACN
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
Variations
current position | date | title | variation status |
---|---|---|---|
❯ | 12 Nov 2003 | Hoyts Multi-Plex Cinemas Pty Limited - variation - s.87B undertaking | variation of original |
13 Dec 2002 | Hoyts Multi-Plex Cinemas Pty Limited - s.87B undertaking | original |