Fairfax Media’s events division has acquired the national Australian Openair Cinemas business for an undisclosed sum, believed to be at seven figures.
The business, which began in Bondi in 2003, runs five capital city venues every summer, and moves into the Gold Coast this season.
Andrew McEvoy, Fairfax life media and events managing director, said the publishing company planned to find new Australian and international sites for the venture.
“We genuinely believe in the experience economy and Ben & Jerry’s Openair Cinemas perfectly complements our other events in areas such as food, health and fitness, parenting, sports and the arts,” he said.
The company runs the world’s biggest food festival, the annual Good Food Month, which opened in Sydney yesterday, with the popular night noodle market now being rolled out to Melbourne, Brisbane, Canberra and Adelaide, as well as the City2Surf, and the events division has become an increasingly lucrative part of the business as the company’s print division fortunes have waned.
* Disclosure: Fairfax Media owns 100% of Allure Media, publisher of Business Insider Australia.
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