Cineplex Entertainment
TSX : CGX.UN

Cineplex Entertainment

May 01, 2009 08:29 ET

Cineplex Entertainment Completes Acquisition of Onsite Media Network Inc.

TORONTO, ONTARIO--(Marketwire - May 1, 2009) - Cineplex Entertainment Limited Partnership ("Cineplex") (TSX:CGX.UN) announced today it has completed its previously announced plan to acquire Onsite Media Network Inc. ("Onsite") through a shareholder approved Plan of Arrangement. Onsite is an Alberta-based digital signage network company that broadcasts advertising and custom content to premium office towers and sports stadiums across Canada. The total transaction value is approximately $1.7 million.

The Onsite network includes a sports stadium network with 1,000 screens located at GM Place (Vancouver), Pengrowth Saddledome (Calgary), Rexall Place (Edmonton), Scotiabank Place (Ottawa) as well as a high-rise office tower network which features approximately 200 screens located in public concourses and food courts throughout 22 office towers in major metropolitan areas. Encompassing marquee properties in Toronto's vibrant PATH system, high profile locations along Calgary's PLUS 15 walkways, and Ottawa's downtown core, the Onsite networks will add more than 120 million annual impressions to the current Cineplex Media offerings.

About Cineplex Entertainment LP:

As the largest motion picture exhibitor in Canada, Cineplex Entertainment LP owns, leases or has a joint-venture interest in 130 theatres with 1,328 screens serving more than 63.5 million guests annually. Headquartered in Toronto, Canada, Cineplex Entertainment operates theatres from British Columbia to Quebec and is the largest exhibitor of digital, 3D and IMAX projection technologies in the country. Proudly Canadian and with a workforce of more than 9,000, the company operates the following top tier brands: Cineplex Odeon, Galaxy, Famous Players, Colossus, Coliseum, SilverCity, Cinema City and Scotiabank Theatres. The units of Cineplex Galaxy Income Fund, which owns approximately 99.5% of Cineplex Entertainment LP, are traded on the Toronto Stock Exchange (symbol CGX.UN). For more information, visit www.cineplex.com.

Contact Information

  • Cineplex Entertainment
    Pat Marshall
    Vice President, Communications and Investor Relations
    416-323-6648
    pat.marshall@cineplex.com