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Cineworld calls the transaction outlined today “Highly synergistic” bringing approximately $130M of annual pre-tax combination benefits by the end of 2021. Mr Greidinger said: “The acquisition of Cineplex strengthens our belief in the theatrical business, one of the most affordable out-of-home forms of entertainment. “The growth comes from new sites and new premium offerings,” he noted. Next year, there won’t be the same huge peaks but there are a number of strong movies. Cineplex Inc. and U.K.-based Cineworld Group PLC announced the deal Monday. Cineplex declined an interview request, with Van Lange saying the company can not provide additional information while it is involved in a seven-week period during which Cineplex can solicit, evaluate and negotiate other acquisition offers from third parties. This report by The Canadian Press was first published Dec. 16, 2019. The company completed its acquisition of Regal in the U.S. in March 2018 and rolled out the Unlimited pass at the end of July. A debt-financed acquisition, it remains subject to Cineworld and Cineplex shareholder approval, and other regulatory approvals. Canada ’s Cineplex has initiated legal proceedings against Regal Cinemas owner Cineworld Group over its failed acquisition deal. Cineworld Group Plc shares fell 42% on concerns about the coronavirus and as its plan to buy Toronto-based cinema chain Cineplex Inc. came under fire from an activist investor. "We have no reason to believe that there will be any changes to the Scene program as a result of this transaction," spokeswoman Sarah Van Lange wrote in an email. People make their way an escalator at the Cineplex Entertainment company's annual general meeting in Toronto on May 17, 2017. He said there wouldn’t be any changes to the terms of contracts with the studios as a result of the acquisition and confirmed that the company isn’t planning on listing in the U.S. anytime soon. In addition to the movie pass, Cineworld plans to roll out reserved seating and enhanced concessions, according to its shareholder presentation on the proposed acquisition. On July 3, Cineplex filed a lawsuit against Cineworld in the Ontario Superior Court of Justice. The service, which the company operates in some of its existing markets, has consumers pay a monthly fee to watch as many movies as they want -- with an upgrade fee for special viewing options, such as 3D or Imax. The online price includes a 75-pence booking charge. It follows the 2017 acquisition of  US cinema operator Regal. Cineworld moved on June 12 to scrap its $1.6 billion acquisition … Cineworld CEO Mooky Greidinger says, “Cineplex is a great business. That period expires on Feb. 2. The Canadian chain rebranded as an entertainment company in recent years in an effort to overcome declining attendance and boost profits. “Some members of the Cineplex team have informed us of other plans.”. A Cineplex takeover would add 165 cinemas and 1,695 screens to Cineworld's 9,500 screens and almost 800 sites. It plans to do so "quicker" in Canada, said Greidinger. I think it is great. 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