Reading International, Inc. Announces Final Award in STOMP Arbitration

LOS ANGELES--()--Reading International, Inc. (NASDAQ: RDI) announced today that it has received a Final Award in its arbitration with The STOMP Company Limited Partnership, the producer of the show STOMP, currently playing at our Orpheum Theater in New York City. The Final Award awards us $2,268,009 in attorney’s fees and costs. As previously disclosed, in the Partial Final Award issued in December, 2015, the Arbitrator (i) issued a permanent injunction prohibiting the producer from transferring or taking actions to market, promote, or otherwise facilitate any transfer of, STOMP to another theatre in New York City having fewer than 500 seats without our prior written consent, and (ii) determined that the Producer’s Notice of Termination purportedly terminating the parties’ license agreement was invalid, null and void and the License Agreement remains in full force and effect.

STOMP is continuing to play at the Orpheum. We intend to now proceed with the collection of that award.

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 in Australia and New Zealand and live theater assets in Manhattan and Chicago in the United States.

Reading manages its worldwide business under various different brands:

Contacts

Reading International, Inc.
Dev Ghose, 213-235-2240
or
Andrzej J. Matyczynski, 213-235-2240

Contacts

Reading International, Inc.
Dev Ghose, 213-235-2240
or
Andrzej J. Matyczynski, 213-235-2240