Cineworld bids USD2.1B for Canadian peer Cineplex

LONDON (AFP) – British cinema chain Cineworld yesterday said it had bid USD2.1 billion for Canadian peer Cineplex, as it looks to create the largest movie-theatre group in North America.

A tie-up would represent further major international expansion for Cineworld after striking a deal to buy United States (US) group Regal for a blockbuster fee two years ago.

“The combination of Cineplex and Regal will create the leading North American cinema operator with unrivalled scale and opportunity,” Cineworld chief executive Mooky Greidinger said in a statement yesterday.

He added that the approach for Cineplex strengthens Cineworld’s “belief in the theatrical business, one of the most affordable out-of-home forms of entertainment”.