TORONTO – Cineplex Inc. said Thursday that it has signed a deal to buy four theatres in Canada from AMC Entertainment Inc. and plans to upgrade the locations to include digital projection systems.
Under the deal, Cineplex will acquire AMC Ventures, which includes the theatres in Toronto, Oakville, Ont., Mississauga, Ont., and Montreal, for a nominal price.
The roughly 250 workers at the theatres will become Cineplex employees.
Cineplex is the largest movie exhibitor in Canada and with the acquisition Thursday owns, leases or has a joint-venture interest in 134 theatres with 1,445 screens.
Shares in the company were down 36 cents at $29.19 on the Toronto Stock Exchange on Thursday.
Cineplex to buy four AMC theatres in Canada from AMC Entertainment
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