Cineplex, a major Canadian cinema chain, has announced its consideration of a potential sale as part of a Strategic Review to enhance shareholder value. The company has appointed Bill Walker, former head of Landmark Cinemas, as the new CEO. The Board of Cineplex, while confident in the company’s future, is exploring various options for maximizing value, including the possibility of a sale.

Goldman Sachs and TD Securities have been appointed as co-financial advisers for the strategic review process. Cineplex, operating over 1,600 movie screens in nearly 170 theaters across Canada and employing more than 10,000 individuals, is the largest cinema chain in the country.

In 2019, Cineplex faced a potential sale when it agreed to a $2.8-billion acquisition by Cineworld Group PLC, but the deal ultimately collapsed. Former CEO Ellis Jacob will provide guidance to the board during the current strategic review. Phyllis Yaffe, chair of the board, highlighted Cineplex’s strong market position and leading entertainment assets.

Bill Walker, with previous experience leading Landmark Cinemas, expressed support for the strategic review. Regardless of the outcome, he emphasized his commitment to operational excellence, exceptional guest experiences, and value creation for shareholders.