In 2004, Hoyts joined forces with Village Roadshow and Amalgamated Holdings Limited to bail out Val Morgan Cinema Advertising, eventually taking their stake to 100% in 2005. In December that year, Publishing & Broadcasting Limited and West Australian Newspapers purchased the company from Consolidated Press. In 2007, Hoyts was sold to Sydney-based private equity firm Pacific Equity Partners. The sale valued the company at A$440 million.
