Liberty Lands & Developments (LLD) has successfully completed the acquisition of the remaining shares of Scope Cinemas, achieving full ownership of the cinema chain as part of a larger restructuring initiative and long-term strategic vision.
This acquisition signifies a pivotal move for LLD in its mission to consolidate its entertainment portfolio and enhance its commitment to providing top-tier cinema experiences, while also improving operational synergy. With Scope Cinemas now entirely under LLD’s control, the organization is well-positioned to foster greater integration across its various businesses, ultimately reinforcing its core mission of delivering unforgettable experiences that aim to “put a smile on everyone’s face.”
As part of this transition, Mr. Thushan Rangana Meemanage will resign from his positions as Chief Executive Officer and Director of Scope Cinemas, along with his roles in affiliated companies, effective March 31. This change reflects a shift in leadership that aligns with the evolving strategic goals of the group.
In light of this transition, Mr. Naveed Cader has been appointed as the Interim CEO of Scope Cinemas, effective immediately, while he continues to serve as Executive Chairman. This appointment guarantees continuity in leadership and supports the company’s forthcoming growth and transformation efforts.
LLD boasts a diverse portfolio that includes ventures in entertainment, hospitality, real estate, and food and beverage. Its key subsidiaries comprise Scope Cinemas and Food Studio, in addition to holding significant interests in Alhambra Hotels and Cine Digital.
In response to the acquisition, Mr. Cader remarked, “This transition is part of a comprehensive restructuring initiative aimed at enhancing alignment across our various businesses and positioning Scope Cinemas for its next growth phase. Our priority remains on developing a robust, future-ready organization while continuing to provide exceptional cinema experiences for our audiences.”
Scope Cinemas continues to be a frontrunner in shaping the cinema industry in Sri Lanka, consistently focusing on enhancing audience experiences. This acquisition underscores LLD’s confidence in the long-term prospects of the entertainment sector and reinforces its commitment to establishing a more integrated and forward-thinking business model.
