21:06:02 EDT Sun 12 May 2024
Enter Symbol
or Name
USA
CA



Cineplex Inc
Symbol CGX
Shares Issued 63,684,281
Close 2024-02-15 C$ 8.16
Market Cap C$ 519,663,733
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Globe says distributors pan Cineplex's Lionsgate deal

2024-02-16 08:36 ET - In the News

The Globe and Mail reports in its Friday, Feb. 16, edition that independent Canadian film distributors have accused Cineplex of engaging in unfair competition after it recently renewed its distribution agreement with Lionsgate. The Globe's Barry Hertz writes that late last year, Cineplex Pictures -- the distribution arm of Cineplex -- quietly extended its distribution partnership with Lionsgate until Dec. 31, 2024. The move came a year after Cineplex made waves in the Canadian film industry by signing a deal that saw Cineplex Pictures distribute Lionsgate's 2023 slate to Canadian cinemas. These venues included both Cineplex locations and theatres operated by competitors. The initial 2023 arrangement itself evolved from a 2019 partnership between Lionsgate, Cineplex and the independent Canadian distributor Mongrel Media, in which the three companies worked together to handle the theatrical distribution costs of Lionsgate titles. Yet after Mongrel dropped out of the equation, Cineplex effectively became both exhibitor and distributor. The Canadian Association of Film Distributors and Exporters say that the Cineplex-Lionsgate arrangement will "result in a less competitive theatrical environment."

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