Cineplex CEO Talks Hunt for Possible Buyer as Company Explores Different Options
Review leaves options open
Walker said Cineplex is conducting a strategic process to consider a broad range of paths. He declined to offer a specific update or timeline, saying the company wants to preserve its options.
The possibilities include continuing as a Canadian private company or as a publicly traded business, alongside a potential sale. Cineplex has engaged Goldman Sachs and TD Securities to lead the review.
Quarterly results improve
Cineplex reported third-quarter net income of $23.8 million, compared with $1.2 million a year earlier. Revenue rose 26 percent to a record $440 million, up from $349 million in the same period of 2025.
Attendance also increased 26 percent, reaching 14.8 million patrons. Earnings per share were 34 cents, compared with 2 cents a year earlier, while shares rose about 2.5 percent to CAN$13.97 late Friday morning on the Toronto Stock Exchange.
Earlier takeover fell through
The review comes as Walker takes over from retiring CEO Ellis Jacob. In 2019, Cineworld Group agreed to acquire Cineplex for $2.1 billion, in a deal that would have created a company with more than 11,200 screens worldwide.
Cineworld abandoned the agreement a year later as the pandemic hit the exhibition business. Cineplex was awarded $1.236 billion in damages for lost synergies, but could not collect after Cineworld entered Chapter 11 bankruptcy in the United States.
Box office recovery supports outlook
Walker described the current environment as a return to stability after disruptions from the pandemic and the 2023 Hollywood strikes. He said audiences are interested in seeing films in theaters when content is available.
He also pointed to renewed support from studios and streamers for exclusive theatrical releases. Walker said those releases can help build franchises and introduce intellectual property to audiences.
Key points
- Cineplex is reviewing options that include a possible sale or remaining a Canadian private or public company.
- Third-quarter revenue reached a record $440 million, while net income rose to $23.8 million.
- Attendance increased 26 percent to 14.8 million patrons.
- Cineworld’s 2019 takeover agreement collapsed during the pandemic, and Cineplex could not collect its damages award.