13 Jun – 20th Century Fox is moving its Asia Pacific Theatrical Operations from Sydney, Australia to Singapore.
The primary purpose of the move is to be closer to the growing international theatrical markets in Asia, specifically China, which is currently the second largest theatrical market of the world.
Though a public statement has yet to be issued, it has been confirmed by the Hollywood Reporter that a memo was circulated within the company about the move.
This move has instigated a change in executive ranks of the regional operations in Asia Pacific.
Executive VP Sunder Kimatrai, who has headed the Asia Pacific operations in Sydney since 2005, is going to be replaced by Kurt Rieder, the former CEO of a Turkish movie theatre called Mars Cinema Group.
Kimatrai has been a part of Fox International since 1993 as the managing director for India and rose through the ranks from there.
He can be rest assured that his successor is very much capable of handling things, since Rieder has been leading Mars for three years before it was acquired by South Korea's CJ-CGV. The company is now the largest exhibitor in Turkey by far.
Rieder then spent over a decade as the CEO of Golden Village, Singapore's biggest cinema chain and serving as a managing director at Artisan Gateway, a consulting firm specialising in the film industries of Asia Pacific.