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Cineplex Inc
Symbol CGX
Shares Issued 63,333,238
Close 2020-11-09 C$ 7.05
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Globe says Cineplex recognizes new reality

2020-11-10 08:18 ET - In the News

The Globe and Mail reports in its Tuesday, Nov. 10, edition that Landmark Cinemas chief executive officer Bill Walker says, "If I'm going to spend $200-million to produce a piece of content, which is the quality of content that the consumer expects, the only way for me to create monetization of that product effectively is through movie theatres." The Globe's Barry Hertz and Susan Krashinsky Robertson write that this explains the existence of the theatrical "window": the amount of time a movie is shown exclusively in theatres before moving to home entertainment. Talks of shortening the window, which is traditionally 72 days, had become a sticking point between studios and theatre owners long before the pandemic. Cineplex, Canada's largest exhibitor with 1,687 screens, has long been opposed to shortening the window, but recognizes the new reality. Cineplex CEO Ellis Jacob says: "During the pandemic, things are different. It's not to say that we accept what they're doing as being the best for the long term. But in the short term, sometimes you have to make some changes that work in favour of both sides. Everybody is basically trying to bring the movie business back."

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