If you go to a movie theatre in Canada, chances are it’s at a Cineplex. After all, they own approximately 75% of all movie theatres in Canada…
And that’s not so bad, especially since their SCENE rewards program makes it easy to see free movies.
However, a big change is on the horizon.
Cineplex being sold to Cineworld
In a deal that has been recently announced, British-owned Cineworld is buying Cineplex for 1.65 billion in cash.
Cineworld is the 2nd largest theatre operator in the world. And they’re clearly still looking to grow – 2 years ago they acquired Regal Cinemas in the U.S. for 3.6 billion.
So what does it all mean for us movie goers? Well, this was only just announced, so we don’t have any concrete details. And since the deal still needs Canadian Regulatory approval, it may be some time until the actual changing of hands goes through.
The major questions, like whether they’ll be closing or revamping any existing theatres, or maybe even expanding, remain to be seen.
What about the SCENE program?
The biggest question on our minds is what happens to the SCENE program – and what about the
Again, nothing has been mentioned about this yet:. This part of the purchase is more complicated, as the SCENE program is a joint venture between Cineplex and Scotiabank.
Will the program remain as is, are changes coming, or will Cineworld simply launch a new program? It’s all very much up in the air.
So, stayed tuned. When we hear more about what will become of the SCENE program, we’ll let you know.
If you have the Scotiabank SCENE Visa
So, if you do have the
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What are your thoughts on this news?
Good, bad, or do you think nothing will really change?
Let us know in the comments below, and share them with your fellow reader.