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Cineplex to Acquire Four AMC Theatres in Canada(June 21, 2012)
TORONTO, ONTARIO -- (Marketwire) -- 06/21/12 -- Cineplex Inc. ("Cineplex") (TSX:CGX) 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 UltraAVX(TM) 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) AMC Yonge & Dundas (24 screens) (Hwy 10 and Hwy 401) 10 Dundas Street East 101 Courtney Park Drive Toronto, ON Mississauga, ON AMC Winston Churchill (24 screens) AMC Forum (22 screens) (Winston Park Drive and the QEW) 2313 St. Catherine Street West 2081 Winston Park Drive Montreal, QC Oakville, ON
All theatres will operate under the Cineplex Odeon brand name.
About VIP Cinemas
With VIP Cinemas, guests enjoy a premium entertainment experience available exclusively in Canada at Cineplex Entertainment theatres. They feature auditoriums for guests of legal drinking age or older, in- seat menu service, a private licensed lounge and a dedicated box office. VIP auditoriums feature reserved seating enabling guests to select their specific seat at the time of purchase. A VIP auditorium also features full stadium seating with larger, upgraded leather seats interspersed with table tops embedded in their armrest. Once seated, a cast member will present the guest with a menu and take their concession order. Ordered items will be delivered directly to the guest at their seat. Guests can also enjoy a private licensed lounge before and after a movie.
About XSCAPE Entertainment Centres ("XSCAPE")
XSCAPE is a new entertainment destination featuring the latest video and interactive games, a redemption area featuring great prizes, full-service licensed lounge and special event party suites. Some of the games featured in XSCAPE include Wheel Of Fortune, Fast & Furious(TM) SuperCars(TM), Slam-A- Winner Xtreme, Big Bass Wheel, House of the Dead 4, Guitar Hero and a new edition of the classic Frogger to name a few. Several games dispense prize tickets which can then be exchanged at a redemption counter for one of many great prizes. SCENE members can earn and redeem their SCENE points when purchasing XSCAPE Play Cards.
UltraAVX provides guests with the sharpest picture, powerful digital surround sound system and reserved seating, delivering a truly immersive movie-going experience. UltraAVX features wall-to-wall screens that are significantly larger on average than our traditional screens. Christie Solaria(TM) Series 4230 DLP Cinema projectors provide a superior digital presentation projecting super bright, crystal clear images onto the big screen. The system is further enhanced with the addition of RealD 3D technology enabling the presentation of the latest 3D movies. Complementing the stunning on-screen picture from these new 4K projectors is a superb 7.1 Dolby digital surround sound system that envelops the audience and takes the cinema experience to a whole new level. Guests will enjoy the super comfy high-back rocker seats. Because all seats are reserved, guests can select the specific seat(s) they want in the auditorium when they purchase their tickets.
About Front Row Centre Events ("FRCE")
Brought to you by Cineplex Entertainment, Front Row Centre Events bring world class entertainment to your local Cineplex Entertainment theatre and other participating locations! Presented in high-definition with digital surround sound, guests can experience the best in original one-night only and series-based programming. With the Metropolitan Opera's Live in HD series, Broadway productions, live broadcasts direct from the stage of London's National Theatre, Bolshoi Ballet performances, classic films, concerts, live sporting events and documentaries, Front Row Centre Events put you in the centre of the action on the big screen!
About Cineplex Entertainment
Cineplex Inc. ("Cineplex") is the largest motion picture exhibitor in Canada and with today's acquisition owns leases or has a joint-venture interest in 134 theatres with 1,445 screens serving approximately 66 million guests annually. Headquartered in Toronto, Canada, Cineplex operates theatres from British Columbia to Quebec and is the exclusive provider of UltraAVX(TM) and the largest exhibitor of digital 3D and IMAX projection technologies in the country. Proudly Canadian and with a workforce of approximately 10,000 employees, the company operates the following top tier brands: Cineplex Odeon, Galaxy, Famous Players, Colossus, Coliseum, SilverCity, Cinema City and Scotiabank Theatres. Cineplex shares trade on the Toronto Stock Exchange (TSX) under the symbol "CGX". For more information, visit www.cineplex.com.
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