Cinema in Akureyri put up for sale as management shifts focus to Reykjavík theaters

The cinema in Akureyri, located at Strandgötu, has been put up for sale. The management of the cinema chain, Sambíóin, has decided to focus its efforts on theaters in Reykjavík instead. Despite the sale, there is hope that local buyers may take over the operation.

The cinema, known as Nýja bíó, was built in 1929 and has become an iconic landmark in Akureyri. For many years, there were two cinemas in the town, but the closure of Borgarbíó two years ago left Nýja bíó as the sole venue.

The decision to sell comes in the wake of challenges faced by the film industry due to the COVID-19 pandemic and strikes in Hollywood. Björn Ásberg Árnason, the managing director, noted that recent months, particularly June and July, have seen a resurgence in business, marking one of the busiest periods since the pandemic. He expects the operation of the cinema to return to pre-pandemic levels by next year.

The asking price for the cinema is 290 million Icelandic króna. Although no formal offers have been made yet, the hope is that local operators will step in to manage it effectively, as the current management is operating from Reykjavík. If a suitable buyer cannot be found, the future of the cinema remains uncertain, but Árnason stressed the need to address that situation if it arises.