Reading International Intends to Sell Burwood Property

LOS ANGELES--()--Reading International, Inc. (NASDAQ: RDI) announced today that it has retained Macquarie Capital Advisors Limited as a financial advisor with respect to the sale of its Burwood Square property in Melbourne, Australia. That property will now be carried as an asset held for sale. The 50.6-acre Burwood property was acquired by Reading in 1996, has never been encumbered, and is currently carried on its books at $46,707,000.

About Reading International, Inc.

Reading International (http://www.readingrdi.com) is in the business of owning and operating cinemas and developing, owning and operating real estate assets. Our business consists primarily of:

  • the development, ownership and operation of multiplex cinemas in the United States, Australia and New Zealand; and
  • the development, ownership and operation of retail and commercial real estate in Australia, New Zealand and the United States, including entertainment-themed retail centers (“ETRC”) in Australia and New Zealand and live theater assets in Manhattan and Chicago in the United States.

Reading manages its worldwide cinema business under various different brands:

Contacts

Reading International, Inc.
Andrzej Matyczynski, Chief Financial Officer
(213) 235-2238

Release Summary

Reading retained Macquarie Capital Advisors with respect to the sale of its 50.6-acre Burwood property in Melbourne, Australia. That property will now be carried as an asset held for sale.

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Contacts

Reading International, Inc.
Andrzej Matyczynski, Chief Financial Officer
(213) 235-2238