Cineworld Group PLC's chief executive was planning to sell off Cineplex Inc.'s RecRoom and signage business in a secret initiative he called "Project Jumanji."
The U.K. cinema chain's head Moshe "Mooky" Greidinger testified today at the Ontario Superior Court of Justice that his company was planning to find buyers for the businesses.
Greidinger was planning for the sale as he worked to close a $2.8-billion deal Cineworld signed in December 2019 to acquire Cineplex.
He says he wanted to rid Cineplex of the businesses because Cineworld's focus was primarily on theatres and it didn't have the expertise to keep other ventures open.
Greidinger and Cineworld worked to sell the businesses before June 2020, when they backed out of the takeover deal and blamed Cineplex for breaching its terms.
Cineplex has focused on arcade and dining venues called RecRoom as well as a digital sign business to offset swings in the box office and increased streaming options.
This report by The Canadian Press was first published Oct. 6, 2021
This week, Avery Haines follows migrants' harrowing journeys across the Darien Gap. Strict new rules to stem the flood of migrants through the notorious stretch of dense jungle appear to be working, but advocates fear it could backfire.
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Overnight on Thursday as the community of Elliot Lake was resting to prepare for the upcoming Kraft Hockeyville celebrations, when vandals struck a building that has been top of mind for the northern Ontario city for more than a year.
Ontario Provincial Police remind the public that ‘a case is never closed until it is solved,’ while highlighting the force's continued investigation of the 1996 disappearance of Melanie Ethier.
Sault residents may notice some commotion on the Algoma University campus over the next two weeks as a team conducts an archaeological search.
A mother in a community where the cost of living is one of the highest in the country says grocery prices are 'inhumane' and retailers are putting profits ahead of people’s basic human right to food.
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Newfoundland and Labrador sponsored a minor football team in England, now they’re about to play one of the biggest clubs in European soccer.
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