Blockbuster (BBI) is getting into the movie business in a different way as they're taking their first steps into the multiplex business, said spokeswoman Karen Raskopf.
What's unique is that they're building it in Cholula, Mexico ... a city about 75 miles southeast of Mexico city. It's also about 10 minutes from Mexico's fifth-largest city - Puebla.
The company has a licensing agreement with Promotora Forjadores, which is a real estate investment company in Mexico.
Jorge Saldivar, who heads up Blockbuster Mexico, said that "Cholula has a population of about 220,000, so it's good in terms of population density." There is also no other competition in the city as it has no multiplexes.
Promotora Forjadores provided the financing for the 11-screen multiplex, which will include state-of-the-art digital sound and stadium seating.
At this time Blockbuster has no further plans to expand beyond this until they see how the project does. At that time they'll decide if they want to pursue things further.
Along with licensing, Blockbuster has also signed a 10-year operations agreement concerning the theater.
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