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VILLAGE Roadshow is spending $254 million to buy-out partner Warner Bros' joint venture interest in the lucrative Gold Coast theme parks at the same time as announcing it is hunting for new acquisitions in Asia.
Village, which has watched its share price steadily decline over the past year after ongoing criticism about the company's hefty directors' fees, yesterday announced the buyout move, hailing it as a major advancement.
However analysts were not so sure, questioning why Warner would suddenly agree to sell out of the theme parks while retaining an ongoing licensing agreement with the group.
Under the terms of the deal, Village will move from 50 per cent to 100 per cent of the assets, the acquisition being funded by a drawdown on the company's...