In a letter to the Toronto-based theatre chain’s board and executive team, Windward Management urged Cineplex to prepare for a sale, saying that “now is the time to go on offence” with a “bold share buyback” and “strategic divestitures.” (Bloomberg)

Talking point: Despite the push for the theatre chain to divest its non-core assets, Windward is bullish on Cineplex’s stock, and believes its value could almost triple by the end of 2026. “The movie theatre business isn’t dying—it’s on the verge of a major resurgence, and Cineplex is perfectly positioned to ride that wave,” Windward founder Marc Chalfin said in the letter, obtained by Bloomberg. Box office hits like A Minecraft Movie and Sinners helped boost Cineplex’s results in the second quarter, with attendance rising 32.7 per cent compared to a year earlier. Ireland-based Windward owns seven per cent of Cineplex’s outstanding shares.