British cinema operator Cineworld said it will buy Canada's Cineplex for $2.1 billion, including debt to expand its operations
) Prime Video are invading that space with direct to stream movies or releasing movies within a few weeks of their cinema debut.
Cineworld’s adjusted net debt stood at $3.3 billion as at June 30, which was 3.3 times adjusted earnings before interest, tax, depreciation and amortization . The Cineplex deal would add 165 cinemas and 1,695 screens to Cineworld’s network of 9,498 screens across 786 sites. The deal also allows Cineworld to tap into the Canadian box office which grossed about $770 million last year. Cineplex has a 75% share of this market.
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