In Canada, the 2 main theatre chains (by FAR) are Cineplex Odeon and Famous Players. The two of them account for over 70% of the theatre market share in Canada.
HUGE news today, apparently Cineplex Odeon (the smaller of the two) has decided to put up $500 million to buy it’s arch rival. The good folks over at The Globe and Mail report the following:
Last fall, New York-based Viacom said it planned to sell its Famous Players arm in Canada, the largest movie exhibitor in this country with a market share of about 40 per cent. For months, industry observers have seen Cineplex, with a 31-per-cent share, as a top contender for the unit.
Famous Players operates at 81 locations with 787 screens across the country, including theatres in its joint ventures with Imax Corp. and its partnership with Alliance Atlantis. Cineplex Galaxy operates or has an interest in 86 theatres with 775 screens across Canada in six provinces.
What kind of effect this will have on Canadian film goers is yet to be seen. Will “Silver City’s” continue to operate? What effect will this have on ticket prices? Lots of question… very few answers right now. I’m very interested to see how this all plays out.
