12:01:52 EDT Sun 12 May 2024
Enter Symbol
or Name
USA
CA



Cineplex Inc
Symbol CGX
Shares Issued 63,684,281
Close 2024-02-27 C$ 7.96
Market Cap C$ 506,926,877
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Globe/CP say Cineplex calls Tribunal claims meritless

2024-02-28 07:05 ET - In the News

The Globe and Mail reports in its Wednesday edition that Cineplex has earned nearly $40-million in on-line booking fees that are the subject of deceptive marketing claims by Competition Tribunal Commissioner Matthew Boswell. A Canadian Press dispatch to The Globe reports that according to an agreed statement of facts presented in the case before the Competition Tribunal, Cineplex generated over $11.6-million in revenue in the six months following the implementation of the fees in June, 2022. Additionally, it earned $27.3-million from the fees in 2023. Cineplex charges $1.50 on every ticket purchased on-line, but Scene+ members get a discount and Cine Club members have the fee waived. The Tribunal has been debating whether Cineplex's way of presenting fees is deceptive marketing and drip pricing. Mr. Boswell argues that the fees are deceptive because moviegoers are not shown the full price of a movie ticket on the first page they see when buying tickets from Cineplex. He wants the tribunal to order Cineplex to stop drip pricing, remove the countdown timer from its website and app and pay a financial penalty equal to the amount Cineplex gained from "misleading conduct." Cineplex says the claims are without merit.

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