Canada movie chain Cineplex mulls sale, hires Goldman and TD

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Photo by Mike Campbell/NurPhoto via Getty ImagesCanadian movie theatre operator Cineplex Inc. launched a strategic review that may lead to a sale and announced a new chief executive to replace longtime head Ellis Jacob.THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLYSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.SUBSCRIBE TO UNLOCK MORE ARTICLESSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.REGISTER / SIGN IN TO UNLOCK MORE ARTICLESCreate an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountCineplex is the dominant owner of movie theatres in the country. It struck a deal to be acquired by Cineworld in 2019, but that fell apart because of severe losses during the COVID-19 pandemic.The company said Wednesday it has hired Goldman Sachs and TD Securities to help it conduct the strategic review, with Jacob involved as a strategic adviser to the board. He had been reaching out to peers such as Cineworld and Cinemark Holdings Inc. to gauge their interest in taking over the business, Bloomberg News reported in April.Breaking business news, incisive views, must-reads and market signals. Weekdays by 9 a.m.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Posthaste will soon be in your inbox.We encountered an issue signing you up. Please try againJacob, who’s headed the company since 2003, had already announced his plan to retire by the end of the year. Bill Walker, the former chief executive of Canadian chain Landmark Cinemas, was named Cineplex’s new CEO, effective immediately.In August 2025, Florida-based Windward Management LP, which owned seven per cent of outstanding Cineplex shares at the time, urged the theatre operator to sell off its non-core assets. The activist firm said then that the shares had 200 per cent upside potential and could exceed $30 by the end of 2026.Cineplex stock closed at $12.74 on Tuesday, up 21 per cent so far this year thanks in part to a successful summer season. Hollywood blockbusters such as Spider-Man: Brand New Day and The Odyssey drove the chain to record box office revenue last month.We apologize, but this video has failed to load.This advertisement has not loaded yet.Notice for the Postmedia NetworkThis website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. 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