Sonys is selling its Sydney Theatre venue to a Chinese company for $10 million.
Sonys Entertainment has sold out its Sydney theatre venue in just under two years, despite the fact that it is owned by China’s state-run Xinhua Group, according to a report by Australian media outlet The Australian Financial Review.
In a statement on its website, the company said the sale of the Sydney Theatre “reflects the continuing evolution of the company and its portfolio of venues across the globe, as well as its commitment to ensuring quality entertainment at its venues, including its award-winning Sonys entertainment award-nominated Sonys Theatre, Sonys Live, Sonies Cinemas and Sonys Cinema.”
Sonys is expected to have about 2,000 seats, which include three separate sections that are split into a central auditorium, a small cinema, a children’s theatre and an adult theatre.
The Sydney Theatre, which was designed by Australian architect Andrew Dyson and opened in 2011, was named Australia’s Best Theatre by the National Theatre Association and Australia’s best performing theatre in 2016.
The company also owns two other Sonys venues in Sydney, The Theatre and The Cinema.
The company has said that it intends to open new venues in other parts of Australia over the next two years.