Light Cinemas will run the screens at Walsall Waterfront, creating 30 jobs. It comes just weeks after it was confirmed a rival complex in the town will also open next year.
The town's council leader Mike Bird today said he was worried Walsall would not be able to support both.
Kier Property is behind the £12m canalside development, which will also include bars and restaurants.
Work on Walsall town centre Vue cinema to start within months
Developers had initially been in negotiations with Odeon to run a nine-screen cinema, but it was announced today that agreement had been reached with Light Cinemas instead.
Kier development manager James Nicholson said: "The Light Cinemas impressed us with their approach and their track record speaks volumes."
Phil Dove, general manager of The Light Cinemas, added: "It is a great opportunity for us to create a cinema that is unique to Walsall."
Earlier this month it was announced that contracts had been exchanged for a Vue cinema to open in Littleton Street.
Council leader Mike Bird said: "I have my doubts whether Walsall can support both but that is up to them to decide. It is showing that people want to invest in the town."