Lotte Cinema-Megabox merger collapses

Lotte Cinema and Megabox, South Korea's No. 2 and 3 cinema chains, will no longer pursue a merger, Lotte Shopping announced Wednesday. In the company's corporate filing released Wednesday, Lotte Shopping said the memorandum of understanding signed with Contentree JoongAng to merge Lotte Cinema and Megabox was terminated on June 30. Signed on May 8, 2025, the agreement to merge Lotte Cinema and Megabox had attracted attention for potentially reshaping the theater industry. The memorandum of under