Cineplex Buys Four Canadian AMC Theaters in Ontario and Quebec
The deal follows China's Wanda Group snapping up the Kansas City-based movie theater giant AMC Entertainment.
TORONTO – In the wake of China's Wanda Group buying U.S. movie theater giant AMC Entertainment, the sell-off of AMC Canada multiplexes has started.
Cineplex has snapped up four theaters in Ontario and Quebec from Kansas City-AMC Entertainment for what Canada’s biggest cinema chain put as a “nominal” purchase price.
The four theaters – AMC Courtney Park in west Toronto, with 16 screens, the 24-screen AMC Yonge & Dundas complex in downtown Toronto, AMC Winston Churchill in Oakville, Ontario with 24 screens and Montreal’s 22-screen AMC Forum complex -- will operate under the Cineplex Odeon brand name.
The four theaters have around 250 employees in all, and stand to be updated with digital projectors and state-of-the-art auditoriums.
There’s another four AMC multiplexes in the U.S. chain’s Canadian circuit that could potentially land with Empire Theaters, or another rival cinema chain here.