Rank has taken a big step towards the break-up of its diverse portfolio of leisure assets after agreeing to sell part of its lossmaking Deluxe Media business to a subsidiary of Sony.
The deal, which is worth £5.9m, will see Rank sell its UK DVD replication business and a UK media distribution business to the Japanese group.
The successful sale of the two units has raised the prospect of a Rank break-up. It owns Grosvenor casinos, Mecca bingo and the Hard Rock Café chain.
References: Financial Times 01/07/06 page 20, The Times Business 01/07/06 page 50
