Two major Canadian movie theatre chains are uniting, as Cineplex Galaxy announced Monday that it will buy Famous Players from Viacom Inc. for $500 million. Famous Players operates 81 theatres with 787 screens. Cineplex operates 86 theatres with 775 screens. Under an agreement with the federal Commissioner of Competition, Cineplex Galaxy will have to sell off 35 theatres with an annual box office revenues of over $100 million to complete the deal. Cineplex's takeover of Famous Players is expected to close during the third fiscal quarter. What this means to Canadians is... well... I really have no idea. What is for sure, is that I live in the States, where most of the big corporations have already merged together.
categories Movies, Cinematical