Activist fund Elliott Management is reportedly pursuing ailing movie theater chain Cineworld Group plc CNNWQ CNWGQ. Paul Singer-owned Elliott is looking to buy Cineworld's operations in eastern Europe and Israel, Sky News reported on Saturday. The fund was contemplating a bid for the whole of the U.K.-based theater chain but opted to leave out the company's U.K. and U.S. operations, according to the report. Cineworld, the second-largest theater chain, is currently under bankruptcy protection and expects to emerge out of the process in the first half of this year. Rival AMC Entertainment Group, Inc. AMC had earlier been interested in buying theaters from Cineworld, which runs Regal Cinemas.