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Ellis Jacob, the longtime president and CEO of Canadian exhibition giant Cineplex, has announced plans to retire at the end of 2026. “After thoughtful consideration, I welcome this next chapter. For decades, I have been focused on making Cineplex a great Canadian company, and I move forward with immense pride in what we’ve built for…
Canadian exhibitor Cineplex has unveiled a definitive agreement with OpenGate Capital to sell Player One Amusement Group for $155 million, the company said Wednesday. The deal will see Los Angeles-based private equity firm OpenGate acquire all issued and outstanding common shares of the amusement gaming provider. “Player One represents a dynamic investment and opportunity to…
Canadian exhibition giant Cineplex saw its first quarter loss narrow and its overall revenues climb by nearly half as the Hollywood box office recovery continues north of the U.S. border. Toronto-based Cineplex posted a loss of CAN$30.4 million dollars (US$22.4 million), or CAN$.48 per-share (US$0.35), compared with a loss of CAN$42.2 million, or CAN$0.67-per-share in…
Movie Theater Stocks Surge Amid Report Amazon Plans $1B Theatrical Push Cinemas stocks got a boost Wednesday after a report that online retailer Amazon plans to spend $1 billion a year on theatrical film releases. Bloomberg, citing unnamed sources, reported Amazon plans to release 12 to 15 movies in theaters, with the push into the…