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Mooky Greidinger

Moshe "Mooky" Greidinger (born 1953) is an Israeli businessman and cinema executive renowned for building and leading major international cinema chains, including serving as CEO of Cineworld Group PLC from 2014 to 2023.^[1]^[2] Greidinger hails from a family deeply rooted in Israel's film industry, with the business originating in the 1930s through two movie theaters in Haifa established by earlier generations. In 1976, at age 23, he joined and later took over the family enterprise, then known as Israel Theatres Ltd., where he remains deputy managing director.^[1] Under his leadership, the company pioneered Israel's first multiplex cinema in 1982 with the renovation of the Hen theater in Tel Aviv, establishing market dominance in the country. By 1997, Greidinger expanded internationally into Eastern Europe through Cinema City International NV (established 1994), during his tenure as CEO of the Cinema City group from 1984 to 2014, growing it to become the region's largest cinema operator.^[1]^[3] He holds a degree from the Hebrew University of Jerusalem and has served on boards including Global City Holdings NV and as co-chairman of the Cinema Owners Association.^[1] In 2014, Greidinger orchestrated the merger of Cinema City with Cineworld, assuming the CEO role at the combined entity and securing a significant stake alongside his brother Israel, who served as deputy CEO.^[1] His tenure saw aggressive expansion, including the $3.6 billion acquisition of Regal Entertainment Group in 2018, which elevated Cineworld to the world's second-largest cinema chain with over 9,500 screens across 10 countries. The family business had held Disney distribution rights since 1967; the 2010 acquisition of AD Matalon & Co. added exclusive rights for Fox and Sony.^[4] However, challenges emerged, including a failed $1.65 billion bid for Canada's Cineplex Inc. in 2020 amid the COVID-19 pandemic, regulatory scrutiny in Israel for alleged anticompetitive practices, and a 2022 conviction resulting in a six-month suspended prison sentence and fine for related violations.^[5]^[6] Cineworld filed for Chapter 11 bankruptcy protection in 2022 and emerged restructured in 2023, after which Greidinger and his brother departed with a combined payout of nearly $35 million.^[7]^[8] As of 2024, reports indicate Greidinger is exploring a return to the UK exhibition market by launching a new cinema operator, potentially acquiring former Cineworld sites, though industry reactions remain mixed due to his controversial legacy.^[9]

Early life and education

Family background

Mooky Greidinger, born Moshe Joseph Greidinger on December 12, 1952, in Haifa, Israel, was the son of Coleman (Kalman) Greidinger and Dahlia Greidinger.^[10]^[11]^[12]^[13] His paternal grandfather, also named Moshe Greidinger, immigrated from Romania and laid the foundations of the family cinema business in the 1930s. In 1930, the elder Moshe invested in his first theater, the Ein Dor cinema located in Haifa's Hadar neighborhood, followed by the opening of the Armon cinema in 1935; these ventures established the core of what would evolve into Israel Theatres Ltd., the family's holding company.^[14]^[15]^[16] Following the senior Moshe's death in 1946, Mooky's father, Kalman Greidinger, took over and significantly expanded the cinema operations in the years after World War II, building on the initial theaters in Haifa to grow the family's presence in Israel's exhibition industry.^[14] Greidinger grew up in a family immersed in the cinema sector, alongside his brother Israel Greidinger, who would later serve as deputy chief executive officer at Cineworld.^[17]^[8] The Greidinger family's longstanding involvement culminated in a collective ownership stake of approximately 29% in Cineworld, held through family trusts and holdings such as Israel Theatres Ltd.^[18]^[19]

Academic pursuits

Greidinger attended the Hebrew University of Jerusalem, where he studied economics during the early 1970s.^[20] He earned a degree in the field, completing his formal education shortly before entering the workforce in 1976.^[1]^[20] This academic background in economics equipped him with foundational knowledge in financial analysis, market structures, and economic principles relevant to business operations. Influenced by his family's longstanding involvement in the cinema sector, Greidinger chose studies that aligned with his anticipated career path in the industry.^[20]

Career

Cinema City International

Mooky Greidinger joined the family-owned Cinema City business in 1976 at the age of 23, assuming operational control of the company that had been established by his father in the 1930s with a few theaters in Haifa, Israel.^[21] Under his leadership, Cinema City opened Israel's first multiplex cinema in Tel Aviv in 1982, a six-screen facility that revolutionized local cinemagoing habits and positioned the company as the market leader in the country.^[22]^[21] Greidinger expanded the business internationally starting in 1997, launching operations in Eastern Europe with the development of large-scale megaplexes featuring over 15 screens each, which grew Cinema City International NV from domestic operations in Israel to a network spanning Central and Eastern Europe, including markets in Poland, Hungary, Romania, and the Czech Republic, by the early 2000s.^[23] He served as CEO of Cinema City International NV from 1984 until the 2014 merger, overseeing its initial public offering on the Warsaw Stock Exchange in December 2006 and directing further growth to more than 100 cinema sites across the region by the early 2010s.^[24]^[25]^[21] His strategies emphasized multiplex development in high-traffic urban locations and achieving dominant market shares, such as becoming the largest operator in Poland and a leading player in Romania and Hungary, supported by the Greidinger family's controlling ownership structure.^[26]^[27]

Leadership at Cineworld

Following the merger of Cinema City International with Cineworld Group plc, Mooky Greidinger was appointed Chief Executive Officer of the combined entity on February 27, 2014, bringing his prior experience leading Cinema City's expansion in Eastern Europe as a foundation for the enlarged operation.^[28] Under his leadership, Cineworld grew into the world's second-largest cinema chain by number of screens, operating over 9,500 screens across more than 700 sites in 10 countries by 2018, with a focus on enhancing customer experience through innovative amenities and technology.^[29]^[30] Greidinger oversaw global operations, emphasizing international diversification beyond core markets like the US and UK to include Eastern Europe, Israel, and other regions, which helped mitigate risks from regional economic fluctuations and supported steady revenue growth pre-pandemic.^[30] He collaborated closely with his brother Israel Greidinger, who served as Deputy CEO from August 2014, handling day-to-day management while Mooky focused on strategic oversight and long-term vision for the group's expansion.^[30] This partnership leveraged their shared family ownership through Global City Holdings B.V., which held approximately 20% of voting rights, enabling coordinated decision-making on operational efficiencies.^[30] During his tenure from 2014 to 2023, Greidinger implemented key strategies to modernize the chain, including the rollout of premium seating and viewing formats such as IMAX (134 screens), 4DX (88 screens), and ScreenX (57 screens) by 2020, which boosted attendance by offering enhanced immersion.^[30] He also expanded loyalty programs, notably introducing the Unlimited subscription model to the US in 2019 and Poland in 2015, alongside the Regal Crown Club rewards system, generating deferred revenue of $34.2 million in 2020 from memberships and redemptions.^[30] Digital upgrades were a priority, with the installation of 1,794 laser projectors and the transfer of 6,416 digital projectors by 2020, valued at $116.1 million, alongside improvements to online booking and mobile apps to streamline customer engagement.^[30] These initiatives positioned Cineworld as a leader in experiential entertainment, with retail concessions like Starbucks partnerships contributing 27.7% of non-UK revenue in 2020.^[30]

Major acquisitions and expansions

Under Mooky Greidinger's leadership as CEO, Cineworld executed a transformative merger with Cinema City International in January 2014, valued at approximately £503 million in cash and stock, which combined the two companies' operations to form a pan-European cinema operator with 201 sites and 1,852 fully digital screens across the UK, Israel, Poland, Czech Republic, Hungary, Romania, Bulgaria, and Slovakia.^[26]^[31] This deal positioned the merged entity as Europe's second-largest cinema chain by screen count, enhancing Cineworld's footprint in Central and Eastern Europe while leveraging Cinema City's established multiplex model.^[24] In December 2017, Cineworld announced its acquisition of Regal Entertainment Group for $3.6 billion in cash, a move that significantly expanded its North American presence by incorporating Regal's approximately 7,400 screens across 573 theaters in 42 states and Washington, D.C.^[32]^[33] The transaction, completed in February 2018, elevated Cineworld to the world's second-largest cinema operator by screen count, behind only AMC Theatres, and established it as the largest chain headquartered outside the United States.^[29]^[34] In December 2019, Cineworld announced a $1.65 billion bid to acquire Canada's Cineplex Inc., aiming to further expand in North America, but abandoned the deal in June 2020 amid the COVID-19 pandemic; Cineplex subsequently won a breach-of-contract lawsuit, awarded CA$1.24 billion in damages in December 2021, though no material recovery was expected following Cineworld's bankruptcy as of 2025.^[35]^[36]^[37] Complementing these major deals, Cineworld pursued organic growth and smaller acquisitions to enter or deepen penetration in emerging markets, notably through Cinema City's existing operations in Bulgaria, where it managed seven multiplexes in cities including Sofia, Plovdiv, and Varna.^[38] These initiatives focused on developing multiplexes in high-potential urban areas, contributing to steady site expansions without large-scale mergers.^[24] Following the Regal acquisition, Cineworld invested in post-merger integrations to unify operations, including a nationwide rebranding of Regal theaters in October 2018 with a new logo and visual identity, as part of a $1 billion commitment over five years to construct new cinemas and renovate existing ones.^[39]^[40] The company also allocated resources to technology enhancements, such as installing digital laser projectors, expanding 4DX motion seating to 80 screens, and introducing immersive formats like ScreenX across multiple sites to improve viewer experiences.^[41] From 2014 to 2019, these strategies drove substantial growth, with Cineworld's screen count increasing from 1,852 to approximately 9,500, representing an expansion of over 400 percent, while annual revenue reached a pre-pandemic peak of $4.37 billion in 2019.^[26]^[42]^[43]

Financial and legal challenges

The COVID-19 pandemic severely disrupted Cineworld's operations starting in early 2020, forcing the closure of all 787 theaters across 10 countries and leading to an 80.5% revenue decline from $4.37 billion in 2019 to $852 million in 2020.^[44]^[45] These closures, combined with prior expansions that had already elevated the company's debt load, resulted in a $3 billion pre-tax loss for 2020 and contributed to net debt (excluding lease liabilities) reaching approximately $5 billion by 2022.^[46] In 2021, revenues partially recovered to $1.8 billion amid ongoing restrictions and delayed reopenings, but the year still saw a $708 million pre-tax loss and a further $500 million increase in net debt to $4.84 billion.^[47]^[48] Exacerbated by the pandemic's effects, Cineworld filed for Chapter 11 bankruptcy protection in the United States on September 7, 2022, aiming to restructure its roughly $5 billion debt.^[49] The filing was driven by prolonged theater shutdowns, intensified competition from streaming services, and delays in major film releases that reduced box office attendance.^[50]^[51] This process involved Cineworld's U.S., UK, and Jersey operations, which constituted the majority of its business.^[52] In parallel, Greidinger faced legal challenges in Israel over antitrust violations tied to Cineworld's film distribution activities. In July 2022, an Israeli court convicted Greidinger and Forum Film Ltd., Cineworld's Israeli distribution subsidiary, of breaching conditions from a 2010 merger approval that aimed to prevent excessive market dominance in film distribution.^[53] On December 12, 2022, the court imposed a six-month suspended prison sentence on Greidinger, a personal fine of approximately $28,000, and a $184,000 fine on Forum Film for failing to prevent the breach.^[54] This case stemmed from broader Israeli antitrust scrutiny of Cineworld's practices, including an indictment filed in 2020 alleging violations that strengthened the company's control over local film markets.^[55]^[56]

Departure and restructuring

On July 31, 2023, Mooky Greidinger resigned as CEO of Cineworld Group plc, alongside his brother Israel Greidinger, who served as deputy CEO; the departure marked the end of their nine-year tenure at the company following its emergence from Chapter 11 bankruptcy protection.^[8]^[57] The resignations coincided with the completion of the restructuring process, under which Cineworld's lenders assumed control as the new owners through a debt-for-equity swap.^[58] The restructuring significantly de-leveraged Cineworld's balance sheet, reducing its funded indebtedness by approximately $4.53 billion from a pre-filing net debt of $8.807 billion as of June 30, 2022.^[59]^[60] As part of the agreement, existing shareholders, including the Greidinger family—which held about 20% of the company's shares prior to the process—saw their stakes heavily diluted, with creditors receiving the majority equity in the reorganized entity.^[61]^[62] The company also raised around $800 million in new equity and secured $1.71 billion in new debt financing to support ongoing operations.^[57] Throughout the Chapter 11 proceedings, initiated in September 2022 amid financial strains from the COVID-19 pandemic and related legal challenges, Greidinger played a central role in negotiating the restructuring agreement with lenders, emphasizing operational streamlining and a potential sale process that ultimately shifted to the debt swap.^[60]^[63] This included rejecting leases for underperforming theaters—resulting in the closure of dozens of sites across the U.S. and other markets—to reduce costs and focus resources on core operations.^[64] Following the Greidingers' exit, Cineworld transitioned to new leadership under the creditor-controlled structure, with the company prioritizing its primary markets in the U.S. (via Regal), UK, and select international locations to drive recovery and long-term growth.^[8]^[65]

Post-Cineworld activities

Fundraising for new ventures

Following his departure from Cineworld in 2023, Mooky Greidinger, in collaboration with his brother Israel, began seeking investors in January 2024 to fund acquisitions of movie theaters outside the United States.^[17] This effort was limited by a non-compete clause agreed upon during Cineworld's restructuring, which barred the brothers from pursuing ventures in the US market where the company continues to operate.^[17] The Greidinger brothers held early-stage talks with banks and investment funds to raise capital for potential deals in international markets, including Europe, Canada, and Australia.^[17] Their strategy focused on regions without Cineworld presence, such as opportunities involving operators like France's CGR Cinemas or Australia's Hoyts, while navigating challenges in areas like the Middle East amid regional conflicts.^[17] Drawing on lessons from Cineworld's financial challenges during the COVID-19 pandemic, the brothers leveraged their family's decades of expertise in cinema development and operations to identify viable acquisition targets in a still-recovering industry.^[17] No specific funding targets or deal scales were publicly disclosed at the time.^[17]

Plans for UK cinema chain

In September 2024, reports emerged that Mooky Greidinger was negotiating with UK landlords to acquire select former Cineworld venues for a new cinema operator, aiming to revive his presence in the British exhibition market. These discussions, which involved Greidinger traveling to the UK to present alternative proposals amid Cineworld's ongoing restructuring under hedge fund GoldenTree Asset Management, targeted struggling yet viable sites from Cineworld's portfolio of over 100 locations in the UK and Ireland.^[9]^[66]^[67] Greidinger's vision for the new chain emphasized a leaner operational model, concentrating on high-performing locations to sidestep the heavy debt burdens that contributed to Cineworld's 2023 administration and bankruptcy proceedings. By focusing on rent negotiations and selective acquisitions, the plan sought to create a more sustainable business structure, drawing on Greidinger's prior experience while avoiding overexpansion. The initiative was supported by broader fundraising efforts for new ventures, providing the necessary financial backing.^[66]^[9]^[67] A potential launch was projected as early as 2025, with intentions to rebrand the acquired sites and incorporate modern amenities such as enhanced seating and projection technologies to better compete against established chains like Odeon and Vue. Industry speculation suggested activity within 12-18 months, aligning with efforts to capitalize on post-restructuring opportunities in the consolidating UK market.^[66]^[9] Industry reactions to Greidinger's proposed return were mixed, reflecting his controversial legacy with Cineworld's financial collapse. Some viewed him positively as a potential "white knight" with proven expertise and landlord rapport, as noted by independent exhibitor John Sullivan, who stated, "He has got the expertise and the landlords trust him." Others expressed skepticism, with an anonymous source limiting the scope to "a couple of sites" and Vue CEO Tim Richards emphasizing that Cineworld was not for sale while anticipating broader consolidation. Critics highlighted concerns over Greidinger's role in Cineworld's debt-laden administration, tempering enthusiasm for his comeback.^[9]

Personal life

Immediate family

Mooky Greidinger is divorced and has three grown-up children, aged 38, 36, and 26 as of 2021, with whom he has four granddaughters (as of 2021).^[12] His son Idan Greidinger has assumed management positions in Cineworld subsidiaries, representing the fourth generation of the family's engagement with the cinema sector.^[14] Greidinger maintains a strong familial partnership with his brother Israel, rooted in their shared heritage within the industry.^[14] This multi-generational involvement underscores the Greidinger clan's enduring ties to cinema operations across Israel and internationally.^[14]

Residence and interests

Mooky Greidinger maintains his primary residence in a modest house in Haifa, Israel, the city of his birth and the origin of his family's cinema business dating back to the 1930s.^[68]^[69] This location underscores his enduring ties to the region's cultural and familial roots, where his grandfather established the foundational theater in 1931.^[70] His home, situated next door to that of his brother Israel, is adorned with an extensive collection of movie memorabilia, highlighting a personal affinity for cinema that extends beyond his professional endeavors.^[68] Greidinger embodies a low-profile lifestyle, favoring simple attire like polo shirts over formal wear in an industry known for glamour, and prioritizing business matters over a public persona.^[68] Known interests include supporting Liverpool Football Club and spending time with his family.^[12]^[68] Prior to Cineworld's bankruptcy, his net worth was estimated at over $1 billion; post-restructuring, he and his brother received approximately $30 million combined as part of the settlement.^[17]

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Aug 3, 2023 · Cineworld owes varying amounts to landlords and other parties for its assumed US leases totaling up to $24.4 million, according to court documents.
[58]
Cineworld Emerges From Chapter 11 Bankruptcy, Ann Sarnoff Joins ...
Aug 1, 2023 · Cineworld emerged from Chapter 11 bankruptcy in the U.S. and added former Warner Bros ... August 1, 2023 1:17am. Share on Facebook · Share on X ...
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Former Cineworld boss looks to snap up struggling UK sites for new ...
Sep 8, 2024 · Mooky Greidinger is eyeing up the UK for a new venture as the former Cineworld boss attempts to woo over the cinema chain's UK landlords.Missing: fundraising | Show results with:fundraising
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Huge new cinema chain could launch in UK as former Cineworld ...
Sep 9, 2024 · A HUGE new cinema chain could launch in UK – as a former Cineworld boss plots a comeback after the firm went bankrupt. Mooky Greidinger's ...<|control11|><|separator|>
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Cineworld boss Mooky Greidinger: I'll screen Netflix films in cinemas
Sep 26, 2021 · Vital statistics. Born: December 12, 1952. Status: divorced with three grown-up children, aged 38, 36 and 26 with four granddaughters.
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Mooky Greidinger 'a cinema guy over and out' - Financial Times
Jul 10, 2020 · Mr Greidinger entered the business in 1976, at the beginning of the multiplex era and in 1997 spearheaded a push overseas, opening the first ...
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Cineworld boss insists: We are NOT in our own disaster movie
Feb 6, 2022 · His family's 20 per cent stake in Cineworld is worth some £120million, but his home in Haifa, Israel, is modest. Greidinger's grandfather, Moshe ...
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How COVID-19 Dethroned the Would-be King of the Israeli Cinema ...
Nov 24, 2020 · Greidinger is struggling these days to save the company that his grandfather, Moshe Greidinger, founded in Haifa in 1931 after arriving in ...