Canada's Cineplex Sues Regal Owner Cineworld Over Abandoned Takeover
As it continues a phased reopening, Canadian exhibitor Cineplex has started legal proceedings in the Ontario Superior Court of Justice against Regal owner Cineworld Group, "seeking damages after Cineworld wrongfully repudiated the transaction to acquire Cineplex." On June 12, the U.K.-based cinema giant had called off its planned $2.1 billion takeover of Cineplex, which would have created one of the world's largest cinema companies with more than 11,200 screens globally.