The shares of Canada’s largest movie-theatre chain soared to their highest level this year, increasing by over 41 per cent to $33.93 in late afternoon trading after news broke of its takeover by U.K.-based Cineworld. The deal will create the largest cinema operator in North America. (The Logic)

Talking point: Cineplex said the deal gives it “access to the global opportunities required to compete effectively in an evolving entertainment landscape,” which includes the U.K. chain’s 9,498 screens across 786 sites in the U.S. and Europe. Cineworld is planning a subscription service in Canada that provides unlimited movie tickets for a monthly fee. Cineplex, like other theatre chains, has seen declining attendance due to pressure from streaming services like Netflix, Amazon Prime Video, Apple TV Plus and most recently Disney Plus. In 2018, Canada’s theatregoers filled about 69.3 million seats, down from a previous high of around 77 million in 2015. The company has expanded to the amusement and leisure industry, building branches of The Rec Room, Playdium and Topgolf, and recently announced a hybrid movie, dining and entertainment space called Junxion, which it dubbed “the cinema of the future.”