The Globe and Mail reports in its Tuesday, May 12, edition that no deal is currently in the works to sell Cineplex, said chief executive officer Ellis Jacob on Monday, but the company remains open to a potential merger or acquisition if the right offer comes along. The Globe's Susan Krashinsky Robertson writes that Mr. Ellis said, "There is no deal on the table," referring to reports about the company seeking a potential buyer in order to combine its operations with other movie-theatre chains. "But I basically always say, I'm opportunistic, that if something comes out that's beneficial to our shareholders and our employees, I would look at it." Cineplex has not engaged advisers on a potential deal, he said. "The biggest thing is, we are focused on our recovery." Mr. Jacob said Cineplex's first quarter results, which it reported on Monday, signal that it is headed in the right direction. The company ended the quarter with cash in the bank, and not drawing on its credit line, he added. Cineplex narrowed its losses to $22.4-million or 36 cents per diluted share in the quarter ended March 31, compared with a loss of $36.6-million or 58 cents a share during the same period last year.