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Cineplex Inc
Symbol CGX
Shares Issued 63,333,238
Close 2020-06-26 C$ 10.05
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Globe says Cineplex is scaling back its reopening plans

2020-06-29 08:54 ET - In the News

The Globe and Mail reports in its Saturday, June 27, edition that Cineplex is scaling back its reopening plans after news that one of the summer's biggest movie releases has been delayed. The Globe's Susan Krashinsky Robertson and Barry Hertz write that Cineplex's decision was announced a day after Warner Bros. pushed back the release date for Tenet, a highly anticipated thriller from director Christopher Nolan. The movie, which was expected to be a tent pole for the summer film season, was initially scheduled for July 17. Earlier this month, it was delayed to July 31, and on Thursday Warner postponed it again, to Aug. 12. It is just the latest example of the uncertainty facing the movie industry in the midst of COVID-19. Theatres in two of the biggest markets in North America -- New York and Los Angeles -- remain closed, changing the outlook for studios as they mull blockbuster release dates. Even where theatres are opening, with increased investments in cleaning and limits on capacity to preserve physical distancing, it is not yet clear how comfortable customers will be returning to the multiplex. Cineplex had originally made plans to reopen a smattering of theatres across Canada on Friday, July 3.

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