The day I last watched a movie in Sarit Centre where the screen was out of focus and sound unclear saw me bid 'adios' to Fox Theatres.
I was not selling short - the color, ambience, surround at Numetro theatres had me snookered. And it looked as good a business as any, what with the media store, many theatres in mall locations etc.
But you definitely could not write off Fox Theatres, owned by Popat family of the Simba Colt/Bavaria fame, who also own the whole 20th Century building plus constructing hotel in Westlands, and the rights to all 20th Century Fox movies in East Africa. They are paid royalties if their movies are shown in the region.
Several years later, Numetro sold as a going concern to Silverbird. But the CEO
Antony Ward is at war with Silverbird, and an expensive battle it will be. He used Nigerians' $3m to buy the theatres from Numetro (his previous employer). But Silverbird wants their money back as they were not alloted their shares, and prohibited Antony Ward from using their name.
--'Numetro' has closed its media store at Junction, now occupied by Text Book Centre
--Most employees of media stores have now moved to TBC and elsewhere
--'Numetro' is left with only 2 theatres Westgate and Village
--Shelves in media store at Westgate quickly becoming empty as stock runs out or is reclaimed
And the end of the court dispute is not in sight.