Canadian theatre-chain Empire Theatres sold to Cineplex, Landmark for $255 million - Polidicks

[URL="http://www.theglobeandmail.com/report-on-business/empire-sells-theatre-business-cineplex-gets-26-locations-landmark-gets-20/article12853451"]Source[/URL] [quote] Empire Company Ltd. is exiting the movie-theatre business as it narrows its focus on its grocery business after the recent deal to buy Safeway Inc.’s Canadian stores. Stellarton, N.S.-based Empire said it has struck two separate deals to sell 46 movie theatres in Atlantic and Western Canada as well as Ontario. In a $200-million transaction, Cineplex Inc. will acquire 24 Empire theatres in Atlantic Canada – 13 in Nova Scotia, six in New Brunswick, three in Newfoundland and Labrador and two on Prince Edward Island – and two in Ontario. Meanwhile, Western Canada theatre operator Landmark Cinemas Inc. plans to buy 20 Empire locations in Ontario and Western Canada in an agreement valued at $55-million. For Toronto-based Cineplex, the agreement broadens its national presence, with a foothold in Atlantic Canada. Empire president and chief executive officer Paul Sobey said in a news release Thursday the decision to sell the movie-theatre division “aligns with the strategic direction of the Company to focus our resources on our food retail business through our 100 per cent interest in Sobeys Inc. and on our related real estate investment through our 42.8 per cent ownership interest in Crombie REIT.” Empire said it intends to use proceeds of about $216-million for debt repayment. Ellis Jacob, president and CEO of Cineplex, said in a statement: “This is a significant event for Cineplex, as the acquisition will provide our company with a truly national, coast-to-coast presence. “This acquisition is an excellent strategic fit for Cineplex. It provides us with a presence in Atlantic Canada and it will enable us to leverage our existing businesses to maximize shareholder value.” Empire also said on Thursday that it posted fourth-quarter profit of $98.6-million or $1.45 per share of adjusted earnings, up from $89.6-million or $1.32 in the year-earlier period. Sales reached $4.31-billion, up $235.1-million or 5.8 per cent. Empire said earlier this month that Sobeys has struck an agreement with Safeway Inc. to buy all of its Canadian assets for $5.8-billion. The deal includes 213 full-service grocery stores in Western Canada and 199 in-store pharmacies.[/quote] I am so pissed off. My theatre was just sold to Empire last July from AMC, and now less than a year later we're being sold to Cineplex. This is ridiculous.

Cineplex bought the AMC Yonge-Dundas a while back and never bothered to change any signage, it still says AMC all over it and when my lectures end up there, because Ryerson runs lectures in the theatre, it's still referred to as the AMC. The only reason I know it's a Cineplex now is because of a couple of crappy little standing signs posted around the theatre. It has a shit movie selection too, usually runs b-movies and foreign films. You'd expect downtown Toronto's main cinema to run some blockbusters, but it never seems to run anything opening day.

[QUOTE=DaCommie1;41210899]Cineplex bought the AMC Yonge-Dundas a while back and never bothered to change any signage, it still says AMC all over it and when my lectures end up there, because Ryerson runs lectures in the theatre, it's still referred to as the AMC. The only reason I know it's a Cineplex now is because of a couple of crappy little standing signs posted around the theatre. It has a shit movie selection too, usually runs b-movies and foreign films. You'd expect downtown Toronto's main cinema to run some blockbusters, but it never seems to run anything opening day.[/QUOTE] That's the one with the giant mural of famous movie scenes in the foyer? Nvm , i just googled it. [B]It is[/B] the one im referring to. Funny cause I was looking forever for this one a couple months back [img]http://www.blogto.com/upload/2008/03/20080323_AMC.jpg[/img] Also what's so bad about cineplex that it pisses you off [I]that much[/I]? me and my girlfriend visit the movies quite frequently and have never had a problem with their theatre

It's not the fact that we're Cineplex, it's the fact that my theatre has been through THREE different companies in the past year. All of the registers and POS systems will have to be replaced, again, as well as all of the projectors and other film equipment (as Cineplex uses Christie vs. Barco for Empire), different concession stock and product, prices, employee wages, and the possibility of replacing our entire management team with current Cineplex managers (and possibly replacing me as supervisor with current ones). It was not fun to go through this once, let alone twice in 11 months. [editline]27th June 2013[/editline] Then again, at least you guys can use Scene points at my place now :v:

[QUOTE=Prez;41211013]It's not the fact that we're Cineplex, it's the fact that my theatre has been through THREE different companies in the past year. All of the registers and POS systems will have to be replaced, again, as well as all of the projectors and other film equipment (as Cineplex uses Christie vs. Barco for Empire), different concession stock and product, prices, employee wages, and the possibility of replacing our entire management team with current Cineplex managers (and possibly replacing me as supervisor with current ones). It was not fun to go through this once, let alone twice in 11 months. [editline]27th June 2013[/editline] Then again, at least you guys can use Scene points at my place now :v:[/QUOTE] Ohhhhhhhhhhhhhh. I see what youre talking about now. I thought you were just a customer. Yeah that does sound like its gunna be hectic. I should really start saving up scene points, id have like a bajillion by now

No worries! Yeah, I've worked at my theatre for almost 5 years, so it's a little disheartening to hear it's been sold again. :(

craziness. my first job ever was at the wellington 8 empire theatres in london ontario [editline]27th June 2013[/editline] poeple would always come in and give us cineplex gift cards and then get pissed off that we werent a cineplex. well look at us now bitches

[QUOTE=DaCommie1;41210899]Cineplex bought the AMC Yonge-Dundas a while back and never bothered to change any signage, it still says AMC all over it and when my lectures end up there, because Ryerson runs lectures in the theatre, it's still referred to as the AMC. The only reason I know it's a Cineplex now is because of a couple of crappy little standing signs posted around the theatre. It has a shit movie selection too, usually runs b-movies and foreign films. You'd expect downtown Toronto's main cinema to run some blockbusters, but it never seems to run anything opening day.[/QUOTE] The one in downtown montreal is pretty good. Unless you have to take a final exam there.

yeah why are people so angry about the buyout? if you work there, it means you keep your job. if you dont, it means you get to see better movies at your current empire theatres. win-win.

Yeah I hear that, hopefully things work out and you won't have that many losses! Not going to lie, a lot of the Cineplex managers look like complete tools and it almost looks like they hire anybody.

[QUOTE=Poo Monst3r;41211121]yeah why are people so angry about the buyout? if you work there, it means you keep your job. if you dont, it means you get to see better movies at your current empire theatres. win-win.[/QUOTE] Above: [QUOTE=Prez;41211013]It's not the fact that we're Cineplex, it's the fact that my theatre has been through THREE different companies in the past year. All of the registers and POS systems will have to be replaced, again, as well as all of the projectors and other film equipment (as Cineplex uses Christie vs. Barco for Empire), different concession stock and product, prices, employee wages, and the possibility of replacing our entire management team with current Cineplex managers (and possibly replacing me as supervisor with current ones). It was not fun to go through this once, let alone twice in 11 months. [editline]27th June 2013[/editline] Then again, at least you guys can use Scene points at my place now :v:[/QUOTE] After a while it'll be fine, but we lost about half of our staff last time because the corporate office kind of changed our building overnight and didn't train us properly. Let's hope it doesn't happen this time.

whoops i missed that. that's understandable. i would think cineplex has better equipment though and a more advanced/comprehensible POS system too. as for staff replacements, thats just silly, cineplex should respect the integrity of a work environment. but i guess big corporations couldnt give a fuck less about that kind of stuff [editline]27th June 2013[/editline] also maybe its just me, but every time i see the word POS system, i still automatically think Piece of Shit system.

I agree, and usually they are pieces of shit haha. Empire's equipment was certainly better than what we had with AMC, but I dunno Cineplex might be better than that as well. Hoping for the best though.

[QUOTE=markfu;41211114]The one in downtown montreal is pretty good. Unless you have to take a final exam there.[/QUOTE] The problem is I have regular lectures in the theatre, so now every time I go into a theatre I expect some old person to show up and talk about science or math with a crappy powerpoint on the screen.

Cineplex drove the independent theater I work at to shut down about a month ago, same fate is happening to the only other theater in town. They did terribly mean things to make sure we didn't get half our movies on time. I don't like Cineplex.

I was pretty pissed that I couldn't use/collect Scene points when I went to St. John's. I, for one, welcome our monopolistic overlords. [editline]27th June 2013[/editline] [QUOTE=dedo678;41214600]Cineplex drove the independent theater I work at to shut down about a month ago, same fate is happening to the only other theater in town. They did terribly mean things to make sure we didn't get half our movies on time. I don't like Cineplex.[/QUOTE] Hmm, yeah, I don't feel sorry for Empire but I do feel sorry for the independents.

Shit Is this gonna change anything?

[QUOTE=Liem;41214770]Shit Is this gonna change anything?[/QUOTE] If you're in the maritimes, yes because Cineplex owns all of the Empire locations that were there (hint: Empire was the ONLY big chain operating out in the east). Otherwise, not much unless you frequented an Empire.

[QUOTE=dedo678;41214600]Cineplex drove the independent theater I work at to shut down about a month ago, same fate is happening to the only other theater in town. They did terribly mean things to make sure we didn't get half our movies on time. I don't like Cineplex.[/QUOTE] plus there's that charm in independent one's you just can't get at a Mega Chain

I liked Empire because they had a student deal (at least in Vancouver/Victoria area?), and even though it doesn't run in the summer, my girlfriend and I took full advantage of it whenever we could. Cineplex has cheap Tuesdays and scene points, but even with that it was still a better value at Empire. Also sometimes I'm busy on Tuesdays damn it. Edit for clarity: I know the article says the Western Canada theaters are being sold to Landmark, but as far as I know I've never seen a Landmark theater in the areas I've lived, so I cannot comment on them.