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Cineplex Inc
Symbol CGX
Shares Issued 63,333,238
Close 2020-11-23 C$ 9.22
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Globe says Cineplex in deal with Universal Filmed

2020-11-23 09:36 ET - In the News

The Globe and Mail reports in its Saturday edition that the time it takes for a movie to go from the big screen to Canadians' living rooms just got shorter. The Globe's Barry Hertz writes that on Friday, Cineplex and Universal Filmed Entertainment Group, one of Hollywood's biggest studios, announced a multiyear deal for a "new dynamic window agreement" to help both companies navigate the industry-shaking effects of COVID-19. Effective immediately, Universal guarantees that its titles, as well as those of its art-house division Focus Features, will have 17 days of theatrical exclusivity at Cineplex locations, after which point Universal has the option of sending its movies directly to premium video-on-demand (PVOD) platforms, including Cineplex's on-line store. However, any Universal film that earns more than $50-million (U.S.) on its opening weekend in North America, including such franchise fare as the Jurassic World and Fast and Furious films, must play at least 31 days before heading to PVOD. Cineplex says it is pleased to work alongside like-minded partners such as Universal, "a studio that respects the theatrical window and is committed to the sustainable long-term health of the theatrical system."

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