Liberty Lands & Developments (LLD) has acquired full ownership of Scope Cinemas after purchasing the remaining shares in the cinema chain, the company announced on April 1.
The deal is part of what LLD describes as a broader group restructuring to align its businesses under a unified strategy. No acquisition price was disclosed.
Leadership changes
CEO Thushan Rangana Meenanage stepped down from Scope Cinemas and its affiliate companies effective March 31. Executive Chairman Naveed Cader has taken on the additional role of Interim CEO.
“This transition is part of a broader group restructuring initiative designed to strengthen alignment across our businesses and position Scope Cinemas for its next phase of growth,” Cader said.
Diversified portfolio
LLD operates across entertainment, hospitality, real estate, and food and beverage sectors. Its portfolio includes Scope Cinemas, the Food Studio restaurant brand, and strategic stakes in Alhambra Hotels and Cine Digital.
The consolidation comes amid a challenging period for Sri Lanka’s entertainment sector, with the ongoing energy crisis and rising costs squeezing consumer spending.
