May 8, 1986
The company, one of North America's largest motion picture exhibitors, said it has filed an action in the Supreme Court of British Columbia for damages and an injunction against Paramount Pictures and De Laurentiis Entertainment Group seeking to restrain Paramount from distributing De Laurentiis' films in Canada. Cineplex contends that its Canadian film distribution company had already secured a two-year agreement to distribute De Laurentiis films in Canada.
October 25, 1989 |
Six months after a nasty brawl with his major shareholder, the intrepid chairman of Cineplex Odeon Corp. on Tuesday reached an agreement with his outside directors to proceed with a takeover bid for the company. The bid is valued at nearly $16.50 per share (Canadian), or almost $14 in U.S. currency, according to sources familiar with the Toronto movie-theater concern. The bid would be worth about $700 million (U.S.), and the buyer would also assume about $600 million in debt.
June 16, 1989 |
Cineplex Odeon Corp., North America's second-largest movie theater company, formally went on the auction block Thursday with the announcement that financial data has been assembled for interested bidders. The action--initiated by a special committee of Cineplex directors--is the upshot of a fierce battle for control waged two months ago by Cineplex's co-founder and chairman, Garth H. Drabinsky. The auction appears certain to be a hot topic at Cineplex's twice-postponed shareholder meeting, now set for June 30 in Toronto.
June 1, 1990 |
Cineplex Odeon Theatres in Los Angeles has raised its ticket prices by 50 cents to $7.50, and ushers may have to ask for combat pay because moviegoers aren't happy about it. "Fifty percent of the people complain. Some of them get angry and ask to see the manager," said Victor Hahn, who works in the ticket window at the Cineplex in Universal City. "I'm sure the manager can tell you some pretty unique stories about (customer reactions)."
March 3, 1995 |
Cineplex Odeon Corp. and Cinemark USA Inc. announced plans Thursday to merge the two movie theater chains into one company that would dominate the industry. The stock swap and cash deal, valued at about $300 million, would create a combined company called Cineplex International that would operate 519 movie theaters with 2,839 screens, surpassing United Artists as the largest theater chain in North America.
July 3, 1990 |
Universal Studios has agreed to buy the luxurious, 18-screen Universal City Cinemas complex from the debt-ridden Cineplex Odeon Corp. for $45 million, the exhibitor announced Monday. The state-of-the-art facility, which sits on a hill overlooking the MCA/Universal headquarters and the popular Universal Studios tour, would be acquired by Universal by Sept. 26 under the terms of the deal. Cineplex Odeon would continue to manage the theater complex through its subsidiary, Plitt Theatres Inc.