Toronto, ON -- Cineplex Inc. ("Cineplex") today announced it has agreed to purchase four theatres from Kansas City, MO based AMC Entertainment Inc. As part of the acquisition, Cineplex will acquire AMC Ventures Inc. ("AMC Ventures"), an indirect subsidiary of AMC Entertainment Inc., which includes the four theatres listed below in addition to the associated tax attributes. The purchase price for AMC Ventures is nominal and the transaction is expected to close shortly, subject to customary closing conditions.
"Our operating and programming expertise, combined with our merchandising, media, marketing, interactive and SCENE loyalty programs, will positively and significantly impact the business while also providing guests with additional benefits," said Ellis Jacob, President and CEO, Cineplex Inc. "We are also very pleased to extend employment to approximately 250 theatre employees who will now become Cineplex employees."
Cineplex will invest in each of the locations and may add its proprietary UltraAVXTM auditoriums, VIP Cinemas or XSCAPE Entertainment Centres to one or more of the locations. All remaining 35mm theatre projectors will be converted to Christie digital DLP Cinema® projectors to bring the theatres to 100% digital and additional RealD 3D systems may also be added.
Theatres being acquired by Cineplex include:
AMC Courtney Park (16 screens)
(Hwy 10 and Hwy 401)
101 Courtney Park Drive
AMC Yonge & Dundas (24 screens)
10 Dundas Street East
AMC Winston Churchill (24 screens)
(Winston Park Drive and the QEW)
2081 Winston Park Drive
AMC Forum (22 screens)
2313 St. Catherine Street West
All theatres will operate under the Cineplex Odeon brand name.