Cineplex Appeals Competition Tribunal Decision

TORONTO , Oct. 24, 2024 /CNW/ - (TSX: CGX) – Cineplex, Canada's leading entertainment and media company, issued the following statement regarding the appeal of the Competition Tribunal's decision:

"Yesterday, we filed a Notice of Appeal, with the Federal Court of Appeal to overturn the Competition Tribunal's recent decision against Cineplex.  With the consent of the Competition Bureau, we are bringing a motion to request a stay of the monetary penalty pending completion of the appeal.  We have been granted an interim stay of the monetary penalty until our motion is heard by the Federal Court of Appeal.

We continue to emphasize that the online booking fee has always been about choice and is an optional, value-added service. It provides moviegoers with the convenience of online booking - knowing they have a ticket for a specific show time and an exact seat location before they arrive at a theatre. We believe that the fee is presented on our website and app in a clear and prominent manner, and fully complies with the spirit and letter of the law."

About Cineplex

Cineplex (TSX:CGX) is a top-tier Canadian brand that operates in the Film Entertainment and Content, Amusement and Leisure, and Media sectors. Cineplex offers a unique escape from the everyday to millions of guests through its circuit of 169 movie theatres and location-based entertainment venues. In addition to being Canada's largest and most innovative film exhibitor, the company operates Canada's favourite destination for 'Eats & Entertainment' (The Rec Room), complexes specially designed for teens and families (Playdium), and an entertainment concept that brings movies, amusement gaming, dining, and live performances together under one roof (Cineplex Junxion). It also operates successful businesses in digital commerce (CineplexStore.com), alternative programming (Cineplex Events), motion picture distribution (Cineplex Pictures), cinema media (Cineplex Media) and digital place-based media (Cineplex Digital Media). Providing even more value for its guests, Cineplex is a partner in Scene+, Canada's largest entertainment and lifestyle loyalty program.

Proudly recognized as having one of the country's Most Admired Corporate Cultures, Cineplex employs over 10,000 people in its offices and venues across Canada . To learn more, visit Cineplex.com .

Caution Regarding Forward-Looking Statements

Certain statements and/or information in this news release (identified by words such as "may", "will", "could", "should", "would", "suspect", "outlook", "believe", "plan", "anticipate", "estimate", "expect", "intend", "forecast", "objective" and "continue" (or the negative thereof)), and words and expressions of similar import, and similar expressions suggesting future events or future performance are intended to identify forward-looking statements. Such forward-looking statements are based on expectations and assumptions made by Cineplex and is subject to risks and uncertainties which may be beyond Cineplex's control. A comprehensive discussion of risks that may impact Cineplex can be found in Cineplex's public reports and filings, including those described in Cineplex's Annual Information Form for the year ended December 31, 2022 ("AIF"), and the management's discussion and analysis for the year ended December 31, 2023 ("Annual MD&A"), which are available under the Company's profile on Sedar+ ( www.sedarplus.ca ). The foregoing list of factors that may affect future operations and results is not exhaustive. Readers are cautioned that undue reliance should not be placed on forward-looking statements as actual operations and results may vary materially from the beliefs, plans, objectives, expectations, anticipations, estimates and intentions expressed in such forward-looking statements. Cineplex does not undertake to update, correct or revise any forward-looking statements as a result of any new information, future events or otherwise, except as may be required by applicable law.

SOURCE Cineplex