TORONTO, Oct. 24,
2024 /CNW/ - (TSX: CGX) – Cineplex, Canada's leading entertainment and media
company, issued the following statement regarding the appeal of the
Competition Tribunal's decision:
"Yesterday, we filed a Notice of Appeal, with the Federal Court
of Appeal to overturn the Competition Tribunal's recent decision
against Cineplex. With the consent of the Competition Bureau,
we are bringing a motion to request a stay of the monetary penalty
pending completion of the appeal. We have been granted an
interim stay of the monetary penalty until our motion is heard by
the Federal Court of Appeal.
We continue to emphasize that the online booking fee has always
been about choice and is an optional, value-added service. It
provides moviegoers with the convenience of online booking -
knowing they have a ticket for a specific show time and an exact
seat location before they arrive at a theatre. We believe that the
fee is presented on our website and app in a clear and prominent
manner, and fully complies with the spirit and letter of the
law."
About Cineplex
Cineplex (TSX:CGX) is a top-tier Canadian brand that operates in
the Film Entertainment and Content, Amusement and Leisure, and
Media sectors. Cineplex offers a unique escape from the everyday to
millions of guests through its circuit of 169 movie theatres and
location-based entertainment venues. In addition to being
Canada's largest and most
innovative film exhibitor, the company operates Canada's favourite destination for 'Eats
& Entertainment' (The Rec Room), complexes specially designed
for teens and families (Playdium), and an entertainment concept
that brings movies, amusement gaming, dining, and live performances
together under one roof (Cineplex Junxion). It also operates
successful businesses in digital commerce (CineplexStore.com),
alternative programming (Cineplex Events), motion picture
distribution (Cineplex Pictures), cinema media (Cineplex Media) and
digital place-based media (Cineplex Digital Media). Providing even
more value for its guests, Cineplex is a partner in Scene+,
Canada's largest entertainment and
lifestyle loyalty program.
Proudly recognized as having one of the country's Most Admired
Corporate Cultures, Cineplex employs over 10,000 people in its
offices and venues across Canada.
To learn more, visit Cineplex.com.
Caution Regarding Forward-Looking Statements
Certain statements and/or information in this news release
(identified by words such as "may", "will", "could", "should",
"would", "suspect", "outlook", "believe", "plan", "anticipate",
"estimate", "expect", "intend", "forecast", "objective" and
"continue" (or the negative thereof)), and words and expressions of
similar import, and similar expressions suggesting future events or
future performance are intended to identify forward-looking
statements. Such forward-looking statements are based on
expectations and assumptions made by Cineplex and is subject to
risks and uncertainties which may be beyond Cineplex's control. A
comprehensive discussion of risks that may impact Cineplex can be
found in Cineplex's public reports and filings, including those
described in Cineplex's Annual Information Form for the year ended
December 31, 2022 ("AIF"), and the
management's discussion and analysis for the year ended
December 31, 2023 ("Annual
MD&A"), which are available under the Company's profile on
Sedar+ (www.sedarplus.ca). The foregoing list of factors that may
affect future operations and results is not exhaustive. Readers are
cautioned that undue reliance should not be placed on
forward-looking statements as actual operations and results may
vary materially from the beliefs, plans, objectives, expectations,
anticipations, estimates and intentions expressed in such
forward-looking statements. Cineplex does not undertake to update,
correct or revise any forward-looking statements as a result of any
new information, future events or otherwise, except as may be
required by applicable law.
SOURCE Cineplex