Ticket prices include P55 for a 2D movie and P80 for a 3D movie. Cineplex Inc. said revenue dropped 95 per cent in the second quarter and that it burned through about US$40 million in cash as it shut theaters because of the coronavirus. To enable Verizon Media and our partners to process your personal data select 'I agree', or select 'Manage settings' for more information and to manage your choices. Landmark Cinemas and Imagine Cinemas, two other chains that operate a number of multiplexes, have kept their theatres shut in the province as well. The number of people allowed inside a movie theatre varies by province, depending on the impact of COVID-19 and the reopening measures introduced by local health authorities. In Nova Scotia, movie theatres can operate at 50 per cent of the auditorium's capacity for up to 200 people with physical distancing in effect, while Saskatchewan movie screens are capped at 30 per cent. Column: Raiders on notice for shoddy COVID-19 compliance, Inside Out LGBT Film Festival: ‘No Hard Feelings’, ‘No Ordinary Man’ Among Juried Winners, Protect Your Teeth From Tartar Stains With This Dentist's Hygiene Tips, 7 Places In Edmonton With All-You-Can Eat Menus For Anyone Who's Hungry & Broke, Jaguar XF Sportbrake discontinued in US for 2021, Outage at Bell facility in Ontario knocks channels off air from Winnipeg east, Biden aims to expand map as Trump recovers from coronavirus, Why now is a good time to have a few hundred engineers on staff, Injuries, losses keep piling up for winless Falcons, LL Cool J Slams Kanye West For Urinating On Grammy, Invites Him To Do The Same ‘On A Yeezy’, Hilariously Perfect Costumes For Kids And Pets, Yes, You Can Be Pro-Abortion & Still Grieve A Miscarriage, Radish seeds, meats and cheeses launched to space station, Latest Bond, Fast and Furious Movies Postponed...Again, Youth facing murder charge after assault on 13-year-old girl in Edmonton, Orphaned Canadian girl finally on way to Canada from Syrian camp, Singapore's Temasek establishes new asset manager overseeing $55 billion, New Zealand ATP, WTA tournaments in January both cancelled, Prince William Says Kate Middleton and 'Cheeky' Princess Charlotte Have Mastered the Floss Dance, Microsoft may earn an Affiliate Commission if you purchase something through recommended links in this article, Turn Your Old Computer To Like New Again - Blazing Fast, Diagnose Car Problems Using Your Smartphone And This Simple Device. The company introduced new seating plans to meet guidelines and boosted its cleaning procedures, but its Ontario theatres remain closed. Cineplex said in June it was working with lenders on a deal to relax financial covenants after London-based Cineworld Group Plc, the world’s second-largest cinema group, scrapped its deal to take over the Canadian chain, alleging breach of contract. "Unless we can get 50 people per auditorium, we'd be operating at a loss," he said on Wednesday.
The trial is tentatively set for September 2021. ESG CORPORATE RATING. Jennifer Lawrence and Husband Cooke Maroney Wear Matching Masks While Out to Lunch in N.Y.C. Does the company provide information indicating a link between consideration of ESG risks and performance, and executive remuneration? More. As of Aug. 14, approximately 80 per cent of locations have resumed operations, the company said in a call with analysts Friday, with the remaining 20 per cent set to open by next week. The Toronto-based company said it’s “implementing a number of pricing and marketing strategies to entice its guests to return.” Jacob said in an interview with Bloomberg News on Friday that customers “are starved for content, and they can’t wait to come back.”. The company was originally set to be purchased by Cineworld Group PLC for $2.8 billion earlier this year, but the U.K.-based chain walked away from the agreement because of alleged material adverse effects — or unforeseen circumstances that affected the value of the deal — and breaches of contract. Many of those theatres are showing older titles, such as "Jurassic Park" and "The Goonies," or more recent films released before the shutdown, including "Emma" and "The Invisible Man.". Find out more about how we use your information in our Privacy Policy and Cookie Policy. Benefit from the huge on screen experience and the impact of cinema surround sound. The urgency around theatres reopening has been minimal this summer, partly because Hollywood continues to push its biggest new films down the calendar as the U.S. struggles with the spread of the virus. 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Information about your device and internet connection, including your IP address, Browsing and search activity while using Verizon Media websites and apps. ESG ratings on companies, countries and green bonds provide investors with the in-depth insight to effectively incorporate sustainability in their investment decision. Some single-screen, independent theatres have reopened in Ontario over the past week, including cinemas in Kingston and Waterloo. Dan McGrath, chief operating officer of the Canadian movie theatre chain, says the company has been in conversations with the province's health ministry in hopes of revising limits that allow up to 50 moviegoers inside a single auditorium. Cinema advertising gets the audiences undivided attention. A previous version included an incorrect total of reopened theatres provided by Cineplex. Last week, Cineplex laid off more than 130 employees as it looks towards an uncertain slate of movie releases in the coming months. McGrath says the existing capacity rules don't make economic sense for the chain. Ticket Prices. Partners. “We also shifted our attention to plan for the safe return of our employees and guests and to strengthen Cineplex’s financial position over the short and long term.”. Cineplex has denied the claims and says Cineworld is backing away from the deal because of buyer's remorse. Cineplex denied the claim and has filed a suit against Cineworld, seeking billions in damages. Cineplex said in June it was working with lenders on a deal to relax financial covenants after London-based Cineworld Group Plc, the world’s second-largest cinema group, scrapped its deal to take over the Canadian chain, alleging breach of contract. You can change your choices at any time by visiting Your Privacy Controls. Market to an entire generation growing up in Botswana. "The combination of the number of people that we are seeing come now, along with the wage subsidy program, certainly makes this sustainable for us, at least for the next couple of months," McGrath said. The company lost $98.9 million (US$74.7 million) in the quarter and said free cash flow was negative $53.8 million on an adjusted basis. Yes . Ross McKitrick: If carbon taxes work, why all the new regulations? See MAJOR CINEPLEX -FGN- BA 1 (MJG1.F) Environment, Social and Governance Ratings to help you in your stock buying decisions. "Businesses and sectors not able to open or viably operate due to Stage 3 restrictions are invited to visit Ontario.ca/reopen to submit a reopening proposal," Timpson added in an email. Now, the stock is the worst performer in the S&P/TSX Composite Index this year, falling about 75 per cent.
Many theaters have already reached capacity under physical-distancing rules, and attendance numbers are expected to increase as new films such as “Unhinged” and “The SpongeBob Movie: Sponge on the Run” come out, he added.
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