Published • loading... • Updated
Cineplex Selling Digital Signage Unit to U.S. Company Creative Realities for $70M
Cineplex aims to reduce debt and focus on entertainment as Creative Realities plans $10 million in annual cost synergies from the acquisition.
- On Thursday, Cineplex Inc. announced it is selling Cineplex Digital Media to Creative Realities Inc. for $70 million, while retaining Canadian advertising sales rights.
- Launched in 2009, Cineplex Digital Media was Cineplex Inc.'s last business-to-business subsidiary as the company shed ancillary businesses last year while refocusing on entertainment.
- Under the deal, Cineplex Inc. will continue operating Canadian digital networks across malls and offices serving Scotiabank, RBC, AMC Theatres and Tim Hortons.
- Cineplex said the sale will strengthen its balance sheet by reducing debt and supporting corporate purposes, with Ellis Jacob saying proceeds could fund buybacks and debt reduction; the deal is expected to close in the coming weeks.
- Creative Realities said the acquisition will double its size, expand U.S. operations, and achieve at least $10 million in annual cost synergies by the end of 2026.
Insights by Ground AI
12 Articles
12 Articles
The cinema giant Cineplex has signed an agreement for the sale of its digital signage subsidiary, Cineplex Médias Numériques, for $70 million.
·Montreal, Canada
Read Full ArticleCineplex has signed an agreement for the sale of its subsidiary Cineplex Médias Numériques (CMN) to Creative Realities, an American digital signage company, for 70 million.
·Montreal, Canada
Read Full ArticleCoverage Details
Total News Sources12
Leaning Left4Leaning Right0Center3Last UpdatedBias Distribution57% Left
Bias Distribution
- 57% of the sources lean Left
57% Left
L 57%
C 43%
Factuality
To view factuality data please Upgrade to Premium