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Cineplex Inc
Symbol CGX
Shares Issued 63,500,028
Close 2024-10-23 C$ 10.31
Market Cap C$ 654,685,289
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Cineplex appeals $39M penalty for on-line booking fee

2024-10-24 12:03 ET - News Release

An anonymous director reports

CINEPLEX APPEALS COMPETITION TRIBUNAL DECISION

Cineplex Inc. has 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 on-line booking fee has always been about choice and is an optional, value-added service. It provides moviegoers with the convenience of on-line 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 Inc.

Cineplex 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 and entertainment (The Rec Room), complexes specially designed for teens and families (Playdium), and a newly launched 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, 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.

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