EXCLUSIVE: Cineworld CEO Mooky Greidinger is in a bullish mood after this morning’s announcement that the exhibition giant is poised to acquire Canada’s Cineplex, creating North America’s lar…
The proposed $2.1 billion deal will add Cineplex’s 165 sites and 1,695 screens to Cineworld’s North American holdings and is expected to close within three to six months. Cineworld’s board of directors is unanimously supporting the acquisition of the leading Canadian exhibitor, which holds a 75% share of box office in the market.
As with Regal, Cineworld will not rebrand the Canadian operations, maintaining the Cineplex name. Says Greidinger, “In general, Canada looked attractive to us for a long time. It’s a good business and a great circuit, but it wasn’t for sale. In the last couple of months we got into negotiations, made a deal and hope all goes well.”
In general, Cineplex is in good condition and there are no plans to close cinemas. The circuit will in fact add three new sites in Canada in the next year, I’m told.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Cineworld To Acquire Canada’s Cineplex In $2.1B Deal, Making Regal North America’s Largest Exhibition CircuitExhibition giant Cineworld, which acquired U.S. chain Regal Cinemas in 2018 for $3.6B, is adding another group to its portfolio with a proposed $2.1B (C$2.8B) purchase of Canada’s Cineplex. T…
Read more »
U.K.’s Cineworld Poised to Buy Canada’s Cineplex in $2.1 Billion DealU.K.-based Cineworld is to acquire Cineplex, Canada’s leading cinema chain, in a deal that values the Toronto-listed company at $2.1 billion (C$2.8 billion) and puts Cineworld in position to become…
Read more »
Here’s What Really Rich People Will Be Buying This Holiday SeasonFrom an $18,500 trip to the spa to a $13,000 monthly shoe-subscription service, these are the most lavish gifts people are buying this holiday season:
Read more »
Love Island bosses in 'crisis talks' amid fall out of Caroline Flack's arrestSpeculation is rife about which celebrity is set to take her place - with former contestants lining up for the top job
Read more »
Saudi Aramco Reaches $2 Trillion Market Value In Record IPO’s Second Day Of TradingThe state oil giant’s value continues to rise, briefly hitting $2 trillion on its second day after going public.
Read more »
Intel acquires Israel-based Habana Labs for $2 billionIntel Corp has acquired Israel-based artificial intelligence firm Habana Labs fo...
Read more »