Blockbuster opening Mexico multiplex

MEXICO CITY -- Blockbuster will launch an 11-screen multiplex here in mid-May, marking the video rental giant's first foray into the theatrical exhibition business.

Dubbed Blockbuster Cinema, it is the company's first theater opening worldwide. Company spokeswoman Karen Raskopf said Friday that Blockbuster Mexico has entered into a licensing agreement with Promotora Forjadores, a Mexican real estate investment firm.

Promotora Forjadores provided 100% of the capital investment. No additional financial details were available.

With stadium seating and digital sound, the state-of-the-art multiplex will open in Cholula, Mexico. Cholula lies 75 miles southeast of Mexico City and 10 minutes from the city of Puebla, Mexico's fifth-largest city.

Raskopf said the company has no immediate expansion plans in Mexico or elsewhere. Jorge Saldivar, who oversees marketing and new business for Blockbuster Mexico, said the company will evaluate expansion opportunities if the Cholula model works well.

In addition to licensing its brand, Blockbuster also will operate the theater under a 10-year operation services agreement.

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