MUMBAI: Medusa Film, the company that took over the Warner Bros cinema with Alessandro Benetton‘s 21 Investment has re-launched as The Space Cinema.

The takeover in May boosted Medusa‘s chain by 150 screens bringing its total to 242 across 13 Italian regions, which makes it the leading chain with a 15% market share. It is predicted that it could account for 15 million to 16 million in annual ticket sales.

Capitolo Settimo, led by by Giampaolo Letta (also Medusa Film‘s vice-president and CEO) controls the venture, of which 51 cent is owned by Benetton‘s 21 Investimenti and the remaining 49 per cent by Mediaset. Medusa is the film division of Italian Prime Minister Silvio Berlusconi‘s Fininvest group.

Other leading multiplex exhibition group in Italy includes UCI Italia, which has 256 screens.