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overview
holdings
chronology
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overview
This profile considers Australian-based Amalgamated Holdings
Ltd (AHL).
It covers -
introduction
Amalgamated Holdings (AHL) is a hotel, cinema, film-lab
and ski-resort operator.
It is best known for control of the Greater Union Organisation
(GUO), a major Australian cinema chain. Prior to 2003,
when AHL/GUO disposed of their stake, the group had been
a dominant shareholder in entertainment group Village
Roadshow since the 1950s.
The group is controlled by the Rydge family: Sir Norman
Rydge was prominent as a company doctor and publisher
last century.
The AHL corporate site is here.
history
AHL's history is similar to that of the US entertainment
conglomerates and UK groups such as Granada
and Carlton, traced back to
the consolidation of local cinema companies during the
first decades of last century.
Union Theatres Ltd was formed in 1913, was renamed Greater
Union Theatres in 1937 and half-sold to Britain's Rank
in 1945. (That 50% stake was repurchased by AHL in 1984).
AHL secured an interest in competitor Village Roadshow
Group in the 1950's, subsequently increased to 33% in
the 1960s before being sold down. Diversification in 1987
saw acquisition of hotelier Noahs Limited and subsequent
development of the Rydges hotel chain. The Thredbo Ski
Resort was acquired in 1987, the same year in which Rydges
magazine was absorbed by Fairfax's
Business Review Weekly.
AHL continued to acquire businesses in the tourism sector,
notably the Matilda and Sail Venture Cruises and the Featherdale
Wildlife Park.
In late 2002 a Village, AHL and Hoyts
joint venture acquired the Australian cinema advertising
group Val Morgan. In February 2003 AHL announced that
it had divested its shares in Village Roadshow to VRC
Investment Co Pty Ltd for $46 million, representing "a
loss on disposal" of $35.1m. The divested shares
represented a 34.2% interest in Village's ordinary issued
capital.
In 2003 AHL's Greater Union subsidiary subsequently moved
to 50% ownership of the cinema joint venture with Warner
Bros and Village Roadshow (319 screens in 29 multiplexes
across Australia), buying half of the AOL Time Warner
stake.
In 2006 AHL sold Matilda Cruises and Blue Rock Catering.
holdings
The group has three operating subsidiaries: The Greater
Union Organisation, Kosciusko Thredbo and Rydges Hotels
& Resorts. Details are here.
studies
There have been no major academic studies of AHL or the
Rydge family.
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page (AHL holdings)
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