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CEO Ellis Jacob has been reaching out to rivals, including Regal Cineworld Group and Cinemark, about a possible acquisition of Canada’s largest movie theatre chain, sources told Bloomberg. (Bloomberg)
Talking point: The movie theatre business has struggled through the COVID-19 pandemic and the rise of streaming services. Cineplex has tried to diversify, opening a series of Rec Room social arcades and partnering with Topgolf. In late 2019, U.K.-based Cineworld entered into a deal to acquire Cineplex, but the pandemic devastated the movie theatre industry before the deal could close. Cineworld walked away from the deal and underwent a restructuring. Cineplex shares were up about six per cent in mid-day trading.
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