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Cineplex Inc
Symbol CGX
Shares Issued 63,333,238
Close 2019-11-14 C$ 24.32
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Globe says Cineplex open to talks with streaming firms

2019-11-15 07:57 ET - In the News

The Globe and Mail reports in its Friday, Nov. 15, edition that on Thursday Cineplex posted record third quarter revenue of $418.4-million, up from $386.4-million in the same period last year. The Globe's Susan Krashinsky Robertson writes that box-office revenue grew across the theatre industry, with a strong film slate that included The Lion King, Spider-Man: Far From Home, It Chapter Two and Fast & Furious Presents: Hobbs & Shaw. Subscription streaming services that produce movies, however, are divided on their approach to theatrical releases. Apple plans to open films in movie theatres weeks before they are available on its new Apple TV+ service, say unnamed sources. However, Amazon -- which opted for longer theatrical releases in recent years for movies such as Manchester By the Sea and The Big Sick -- is giving its new film, The Aeronauts, just two weeks in theatres before offering it on its Prime streaming service. Netflix is also giving its new Martin Scorsese film, The Irishman, only a limited release before it goes to streaming later this month. Neither movie will screen in Cineplex theatres. Chief executive officer Ellis Jacob says he is open to discussions with streaming companies.

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