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Cineplex Inc
Symbol CGX
Shares Issued 63,333,238
Close 2020-03-17 C$ 9.00
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NP says Cineplex hears virus may spell death of cinema

2020-03-18 07:12 ET - In the News

The National Post reports in its Wednesday, March 18, edition that it is already hard to believe that people ever smoked on airplanes. The Post's Chris Knight writes that sooner than we might think possible, a trip to the cinema could become a historical event, like attending a bear-baiting, a gladiatorial game or a seance. COVID-19 might well be the death of the movies. When cultural institutions started to shutter due to fears of the spreading coronavirus, it began with major North American sporting events — hockey, baseball, basketball and soccer. Galleries, museums and tourist attractions were next, along with trade shows, conferences and live theatre. Cinemas remained the lone holdout. Those in New York and Los Angeles shut only at the order of the mayor of each city, while the giant AMC chain vowed to soldier on. In Canada, Cineplex was similarly stalwart. Then on Monday, one independent after another closed its doors. Late Monday, Cineplex and Landmark, the No. 1 and two chains in Canada, finally announced they too would close, hours ahead of Ontario's declaration of a state of emergency, which would have ordered them to shut in that province anyway.

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