Regulator Opens Investigation Into Simultaneous Price Hike by Cinemas (1)
The Competition Authority said it is investigating Coca-Cola Plaza and Solaris, the two major movie theaters in Tallinn, for simultaneously increasing prices on June 21.
Forum's director, Kristjan Kongo, said there was no foul play involved, and the increases were just a coincidence, adding that they had been planning the rise since April.
Forum Cinemas, which operates Coca-Cola Plaza, announced on Wednesday that it plans to purchase Solaris Cinema, pending an approval from the Competition Authority.
The cost of movie tickets took a plunge when Solaris opened its doors in 2009, taking major market share from Coca-Cola Plaza. Kongo said yesterday that if the purchase is green-lighted, prices will not increase.